buy, buy, buy

As late as 4 December 2012, in a speech to the Sydney Emerging Company Showcase, Nick Woolf was lamenting the fact that "the value of our platform is not recognised today in our current share price." Its a case of buy, buy, buy because "if not taken out in a trade sale [we] will see the company expand revenue rapidly over [the] next couple of years."

The buy case for PYC is well documented (as is the sell case based upon missed guidance). But why does the market seem particularly disinterested so much so that the market cap is less than $15m? Is it a case of the Woolf who Cried Buy.

In the original fable, the boy who cried wolf successfully brought his rescuers running until they tired of the exertion. Investors in PYC presumably have also tired and many have gone home. They are sitting in their armchairs and are deaf to Nick Woolf's call despite Phylogica having signed four partnerships with Big Pharma. And yes, the Woolf also said at the December presentation that the next deal will be the largest to date.