Also the last four days for which ASIC data is available shows...

Also the last four days for which ASIC data is available shows open short positions increasing by a small amount on each day. The short selling hedge fund is still providing fake liquidity to keep the price under control. IMO the price would already be mid $20s since the buyback was announced and since Disc flunked their EPP trial if they had not provided massive amounts of fake liquidity via new open short positions - the increase was 500000 shares in a tightly held company that is already undervalued thanks to shorters. That is a significant increase of over 1% open shorts in just a couple of weeks, taking CUV into the top 20 most shorted where it really stands out amongst quite a few companies that may struggle to survive without capital.

Interestingly, the open shorts increasing in the most recent 4 days is by about 5000 shares each day in very light trade. That is the amount that Clinuvel should be buying back every day with the share buyback, they are simply allowing shorters to manipulate the price to their hearts desire even if they have provided somewhat of a floor. I believe shareholders interests are only protected if CUV provide a somewhat more aggressive approach to the buyback to restore shareholder value which has been destroyed over the past 5 years by a combination of short sellers and management missteps. As they said they have plenty of cash to do this, even if they spend $25 Million it is only a small fraction of cash on hand which will be pushing toward $200 Million when FY results come out (that in itself is amazing in a very profitable company only valued at $770 Million).

At the very least the lack of a buyback so far provides plenty of ammunition to accelerate to a higher buyback pace when desired - there is still close to 1.5 Million shares to be bought back. I would just like a bit more predictability out of this company, they said they have chosen this moment to strike on our behalf but then they largely didn't - except for 40K shares in 2 months - and this doesn't help a base who already have a negative sentiment due to 5 year lows in the SP.

All IMO DYOR