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
$1.21 |
Change
0.050(4.33%) |
Mkt cap ! $1.364B | |||
| Open | High | Low | Value | Volume |
| $1.20 | $1.21 | $1.17 | $12.71M | 10.71M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 58458 | $1.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.21 | 1093 | 2 |
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| Last trade - 14.27pm 07/05/2024 (20 minute delay) ? |
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Last
$1.20 |
Change
0.050 ( 4.28 %) |
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| Open | High | Low | Volume | ||
| $1.21 | $1.21 | $1.17 | 2088746 | ||
| Last updated 14.48pm 07/05/2024 ? | |||||
| MSB (ASX) Chart |