I suppose I do have another concern about focusing on Adapt, and that is thanks to my experience with Alchemia (ACL:ASX) where the company managed to reformulate the extremely complex Arixta into a low cost generic first to market.
On all available figures the stock should have been worth multiples upon FDA approval of that drug with $20-30m p/a. It was already partnered and ready to go. We where also about to commence a rather expensive ph3 trial of HA-Irinotecan for $20m+. The argument was why are we blowing all our profit on this pie in the sky trial when we could be pocketing it as dividends?
Well jump forward a while and generic Arixta is delivering about $6m p/a and falling, about 20% of what was hoped for, and the ph3 is complete and about to report in a few weeks. How is the stock valued now? I reckon about 80% is the trial and 20% at best is the product that so many thought would be the driver of future profits.
You just can't tell how the future will play out with biotech, so I'm a believer in having lots of strings to your bow.
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Last
$18.00 |
Change
0.000(0.00%) |
Mkt cap ! $346.0M |
Open | High | Low | Value | Volume |
$18.00 | $18.10 | $17.70 | $58.64K | 3.27K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 109 | $18.00 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$18.10 | 700 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 48 | 17.750 |
1 | 26 | 17.650 |
1 | 200 | 17.560 |
1 | 500 | 17.550 |
1 | 1 | 17.510 |
Price($) | Vol. | No. |
---|---|---|
18.100 | 700 | 1 |
18.300 | 150 | 1 |
18.500 | 43 | 1 |
18.690 | 550 | 1 |
18.750 | 143 | 1 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
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