Food for thought in regards to ASX listed Biotech stocks across the board.
It's occurred to me that the weakening Aussie dollar would be placing increasing pressure on biotech budgets, largely due to instability in China which is our bread and butter for iron ore and other export. This and a hot US market attracting much of the global investment dollars on offer, weakening demand for other currency.
The burden of exchanging dollars for other currency would be particularly harsh on ASX listed companies with studies, employment and drugs sourced from the US.
Given that the US remains the dominant development ground in pharma and biotech, I'd imagine more companies than not would be effected on ASX and other trading platforms by weakening currencies against the US dollar which is running hot.
Just something to take into consideration while we ponder why our investments aren't performing to our liking, it isn't always necessarily an internal factor but may be more related to general macro environment.
Perhaps a good reason for Steven to pause or farm out PTX-200 which is currently trialing from Florida, as opposed to PTX-100 which is based out of Melbourne's Epworth. Dr Dan Shelly's wages would also be placing a bit of extra pressure on the budget given the fact that Dan is based in the US.
If I'm seeing this, then funds and sophisticated investors are seeing this same Aussie dollar problem.
Not to worry though, PTX is well funded and can weather these troughs. Patience is the key in my opnion.
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