Cuv (who I also hold) has had their drug on the market way...

Cuv (who I also hold) has had their drug on the market way longer than Neuren and are managing the whole roll out themselves. They get all revenues but carry all the costs. The pace of growth has disappointed the market and managements inability to diversify at all over that extended timeframe has given the shorters their opportunity. Clinuvel is also extremely frustrating with their public communications and whilst it has improved I have a very limited idea of what to expect from them. For example how close is Vitiligo?? Will they need the second 107 trial or not? Will the tanning OTCs ever happen??

Contrast this with Neuren. There is uncertainty about the Ph3 endpoints but we know they are meeting this month. If that gets cleared I have every faith they will get the trial started mid year and finished in 18-24 months. Also you can't discount the milestones they get to zero. Why doe Neuren have more cash than Clinuvel despite their drug being available for a much shorter time? Because of the milestones.

Now with the current macro environment nothing would surprise me. Stocks are getting slammed. I certainly don't have anytime for the gap filling talk as to why Neuren is sub $10 now. But in the absence of where the world is currently at, Neuren is the company I would back more strongly.