bounce predicted

Nice article published online yesterday by FNArena. Here's the gist:

Heading:
Avexa Looks Cheap
FN Arena News - June 20 2007

ABN Amro Morgans believes that Avexa is cheap at 57c and provides a significant buying opportunity. They have a 12-month target price of $1.42.

They mention Avexa's timetable of upcoming milestones , including trial results to be published at the International Aids Society conference in Sydney next month, a Phase III testing sites to be initiated in the second half of '07, and a paediatrics trial will commence. They predict that these milestones will all have a positive impact on the share price.

Says ABN Amro Morgans: "The current share price weakness creates a buying opportunity. The company is well funded with approximately A$80m in cash, sufficient to fund the Phase 3 trials for its HIV compound."