Never seen anything like it. Market darling, 400% increase in six months to ASX200 meme stock, over 80% decrease in next six months. And according to the company, not a single negative scientific outcome to report.
Imagine the staff moral. Apparently most are shareholders. No doubt they tipped family and friends into the stock and were heroes for a while. Now they're probably facing "what's going on" questions on a regular basis. How can they still be focused on the job at hand?
What price capital now? Every capital raise from the first $1m to the last $100+m has been done at a higher price than the previous. Now its already down 25% from the last raise price and with no reversal catalyst in sight. And at a time where more capital then ever is required.
Such a high level of conviction that CU6 was a must-takeover for any BP in this most promising of cancer therapies. Now none even around for an opportunistic buy at an 80% discount.
Are we still "following the science"? The SP is suggesting that Clarity's diagnostic science is never going to make it to market. Cancel the trials, preserve capital and bunker down until cu67 is further developed?
Boards of course shouldn't give running commentary on company shareprices, but for an ASX200 to lose 80% of value in under six months on the back of apparently nothing negative that the Board considers worthy of reporting is unprecedented.
CU6 Price at posting:
$1.89 Sentiment: Sell Disclosure: Held
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