Interesting.Back in early October 2023 after Milford had...

Interesting.

Back in early October 2023 after Milford had significantly reduced their holding in NEU hey had this to say: (paraphrased from their "Stock Story - Neuren Pharmaceuticals")

"...At Milford we run a very active investment approach to investing which means managing these risks by taking profits along the way

Beyond Daybue Neuren also has four phase Ii clinical trials for a second drug to treat genetic diseases... but this new drug is in early stage clinical trials so the chance of success is low and would require significant investment to reach commercialisation... Milford retains a core position in the company as the risk/reward is still attractive but not as attractive as it once was which has been reflected in our position sizing."


Whoops. Easy in retrospect but it is now fairly obvious that Milford's assessment of COS being "low" was a significant misread. I can only assume they were looking at industry averages of phase 2 success rather than taking NNZ-2591 on its merits. After selling down between $14-$10 pre PMS phase 2 they are now buying back above $22 it would seem - one can only infer they think the risk/reward ratio has improved considerably. One also wonders if they will sell down again prior to the remaining phase 2 results later this year, I suspect the answer will be no. AIMO.