I've thought Acrux was undervalued for some time.
I bought at $1.27 in August last year when the KV deal was announced, only to see the share price plummet. And now it's climbed back up again following apparently bad news - slow Evamist sales and KV backing out of development of the other six products.
The dramatic share price rise on moderate volumes suggests someone is keen to buy a large stake quickly. Which could be based on suspicion of a takeover or other news, but could also just be a value investment.
The breadth, length and speed of Acrux's product pipeline are what attract me. There seems like little long-term downside and many possibilities for very large upsides.
I'm tempted to rebalance a little from Acrux into Alchemia (my other large biotech holding), but will wait while the share price is on its current trajectory.
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