Eli Lilly have at least one repurposed drug in Phase 3 trial to treat COVID : https://investor.lilly.com/news-releases/news-release-details/lilly-begins-phase-3-clinical-trial-baricitinib-hospitalized
Baricitinib is owned by Incyte, which popped about $4B USD in MC on the news its product was being trialled. I would expect a similar pop for PAA if MPL gets to Phase 3, say $6B AUD. So my rough calculation is PAA gets to $20 a share BEFORE MPLs effectiveness is proven (or not).
THEN, I’ll know the pressure the holders of 2 million shares are feeling this weekend.
Clinical Trials, page-301
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Mkt cap ! $71.26M | |||
| Open | High | Low | Value | Volume |
| 18.0¢ | 18.0¢ | 17.0¢ | $119.0K | 679.3K |
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| No. | Vol. | Price($) |
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| 4 | 235714 | 17.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 18.0¢ | 190570 | 5 |
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| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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| Open | High | Low | Volume | ||
| 17.5¢ | 18.0¢ | 17.5¢ | 48353 | ||
| Last updated 15.51pm 24/05/2024 ? | |||||
| PAA (ASX) Chart |