Invion Ltd [ASX:IVX] has also been on the ASI buy list for some time. Originally tipped in September 2013 the stock is languishing 66% down from its initial price.
The company has three drugs in development for inflammatory conditions such as asthma, bronchitis and lupus. The company has clinical trials underway with INV102 and INV103 in Phase II trials. The simple fact is there’s a long way to go to get meaningful outcomes from any of these trials. And subsequently there will still be phase III trials…if they make it there.
The length of time this will take could stretch into years. And with the stock well down in price — and the length of time that it may take to even get back to ‘break-even’ — I think there are far better opportunities on the ASX.
This will also impact the ASI Favourite Four. Take a look below as Invion is out and is being replaced with what I think is one of the best in the buy list.
Action to take: Sell Invion TD [ASX:INV] at a price of 2.4 cents recording a 66.7% loss on the stock. We will no longer provide coverage for Invion Ltd in ASI.
IVX Price at posting:
2.4¢ Sentiment: None Disclosure: Held
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