eG Capital have identified a number of Australian biotechs they believe will perform strongly in 2008, including Peplin, Progen Pharmaceuticals, Avexa, Heartware and ChemGenex Pharmaceuticals. There is a big difference between the high quality and low quality biotechs,” he said
We'll see with the 24 week phase IIb results if they are on the money. Many buyers seem to be getting set for a huge run if the ballooning market depth is anything to go by. The old high of $1.13 translates to 79c after the placement but a modest 25% this time round should take us to $1.00. Given that the 21 day results produced over a 100% spike a 25% spike on the old high based on the 24 week data should be a very strong possibility and more sustainable, IMHO. But please do your own research as analysts are placing a much higher valuation on this but anything is possible.
AVX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
