PYC's drop in sp at the moment is possibly a reflection of some investor's lack of understanding of this company and of biotechnology in general.
It is important to consider at this point, before selling shares too hastily, what this company has announced recently:
"DR Douglas Francis, Pharmaxis' founding drug development expert and former Therapeutic Goods Administration drug reviewer, has moved to Phylogica and will head up the novel peptide company's drug development team."
The key words here are 'DRUG DEVELOPMENT'.
PYC is far from being in the business of hoping to find something that could one day become a blockbuster drug. They've found several significant leads in their patented phylomer library and are in the process of drug development.
The appointment of Dr Francis is a significant step forward and evidence that this company is on track. You don't attract someone with his skill set, knowledge and experience unless you have a serious business with massive potential.
Watch this space - Phylogica is going places!
DYOR - have a look at Phylogica's website - some very interesting information!
PYC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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