The issue is not that the drug will not work - it clearly has some positive anti-cancer activity and an early lab based framework for cardio protection. (although it is far from proven to do so in formal clinical trials that regulators will accept).
Single drug development companies run many risks including being swamped by new developments that are simply better. Look at IXC as a perfect example of this over the last week. Drug probably works but just not going to be prescribed due to much better competition results and doctors prescribing practices. Their program is now shot.
The longer it takes to develop (or do a deal) the more risk occurs. Pharma will buy early if they believe a candidate has great potential and is unique. Otherwise they let small companies take all the early risk and then buy (at premium). This seems to relate to RAC.
General Comments / Chat, page-8373
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Last
$1.68 |
Change
0.130(8.39%) |
Mkt cap ! $277.8M | |||
| Open | High | Low | Value | Volume |
| $1.65 | $1.75 | $1.61 | $652.3K | 389.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 201 | $1.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.69 | 100 | 1 |
View Market Depth
| Last trade - 15.52pm 14/05/2024 (20 minute delay) ? |
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Last
$1.67 |
Change
0.130 ( 8.61 %) |
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| Open | High | Low | Volume | ||
| $1.64 | $1.73 | $1.63 | 33428 | ||
| Last updated 15.54pm 14/05/2024 ? | |||||
| RAC (ASX) Chart |