hi. I think the reason it didnt explode on covid news is because they still havent commenced phase 1 trial yet, so even if results are good it is still likely years away from actually being used and generating income. The news on trial start and location was sort of just conformation of what they announced in march, ie human trials would commence around now. That news in march started the run up from 40 to 80c I think. Covid then got us up into $1+.
A few of us have had a go at estimating possible price targets but the important facts are that currently there are only 160 million shares available on issue, and the target market if the anti biotic goes through trials successfully would possibly be hundreds of millions if not billions. Could easily be $10 plus just conservatively. The low shares on issue has a lot to do with why it has already run up so fast. See afterpay as an example of low shares on issue (around 280 million) and large demand. Went to $70+
RCE Price at posting:
$1.61 Sentiment: Buy Disclosure: Held
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