Good news - Ord Minnett starts coverage, page-4

Let's be honest here, it's a little more nuanced than what you're stating. In the absence of market cap growth, Clinuvel has dedicated itself to wooing institutional investors and analysts for "credibility". It needs the support of these observers and investors to underline the Clinuvel narrative which generally consists of two aspects: reminding people of the history of Clinuvel, and how financially well managed the company is. Anyone who follows Clinuvel can see there is pressure mounting on Philippe Wolgen to finally deliver on long promised goals, it's tangible in the letters from the Chair.
This has not come about because of a handful of disgruntled investors, it's an industry wide occurrence that is filtering down to the Board. Surely they wouldn't give a rag band of malcontents the time of day let alone acquiesce to agitation from a select few??

The other thing to mention is these handful of investors are probably well versed in the medical potential of this drug which goes beyond cosmetics, read up on the various scientific papers and you'll understand why these people still hang around. It's a mistake to link these people to shorting activities, you only need to look at the activities of JP Morgan to understand they control a vast amount of trading in a thinly traded stock. You give too much credit to a handful of people...