100% agree. They have executed this buyback brilliantly. Extending it tightens things up nicely and increases the efficiency of share price recovery. When you look at the situations of many Aussie biotechs - frequently rattling the tin and issuing many millions of shares at a bargain basement prices, often just to keep pace with director salaries and contribute to a modest funding runway; we have to remind ourselves how good we have it -modest director compensation pool, frugal to a fault, and self-funded to unlock new indications and pursue pivotal trials in what may well be proven to be a superior molecule. This runway is funded by a highly motivated partner whose milestone payments cover our clinical trials and whose royalties provide working capital and fuel for the share buyback... Jon and his team are class and play the long game so well. Will also be heading in for the AGM.
NEU Price at posting:
$12.87 Sentiment: None Disclosure: Held
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(20min delay)