I wouldn't be getting very excited about the bounce. It's likely just the shorters buying shares to cover their positions and locking-in their profits.
I must say I am very disappointed at the announcement - if ever there was a time for a clearer explanation from management it would be this result.
While we don't know if they have more data than in the announcement, they had 2 days to work on this and frankly it is devoid of any detail.
For example 20% lower but unlikely to meet 43% primary with the inclusion of 67 more patients is far different to what we currently have.
The inclusion of Novartis in the announcement was interesting, this usually takes some negotiation/approval - hopefully they've received that. It's hard to tell, given that it is weak enough to not indicate much - but it's about as much as I would have expected Novartis to agree to.
I wouldn't be getting very excited about the bounce. It's likely...
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Last
$1.57 |
Change
-0.210(11.8%) |
Mkt cap ! $1.792B | |||
| Open | High | Low | Value | Volume |
| $1.72 | $1.74 | $1.52 | $15.63M | 9.716M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5127 | $1.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.57 | 39613 | 3 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| MSB (ASX) Chart |