That sounds like short seller 'scuttlebutt' to me. If it was...

That sounds like short seller 'scuttlebutt' to me. If it was true, and I doubt it, then it is a direct contradiction of statements made to the ASX just months ago and I would expect the entire board to be removed as they are there to protect shareholder interests. They have acknowledged short seller activity, which is clear for everyone to see on a daily basis, and to say $15 is acceptable would be basically acting in support of short sellers and not shareholders. It is a 5 year low share price when the company is stronger than ever and markets are at all time highs. To support a $15 figure would be ludicrous when it is easy to observe short sellers have created this figure with massive amounts of manipulation and fake liquidity as shown by ASIC data over many years. It is also factually wrong because short sellers have repeatedly knocked the CUV price below $15 and they have not activated the share buyback to restore the price to $15. I expect come the new financial year next week that they will get moving on this buyback program, PW said in an interview on Youtube that he wants patience as the buyback program is delivered and he has had that even as shorters continue constant manipulations. And to be clear the share buyback will only use about 10% of total cash reserves, that is shareholder cash and they must return that cash to shareholders as they have stated.

Here's what the Clinuvel board of directors said about the crazy undervaluation, and also what the company said in a recent newsletter regarding the share buyback (underline mine):

"Board of Directors view current market capitalisation as decoupled from the Company's value". PW said on the same release "Given expected earnings, underlying growth in existing and new porphyria markets, current cash reserves, and projected expenses over the next 12 months, redistribution of capital to shareholders through a buy-back program is appropriate".

"We have chosen the moment of a repurchase as first clinical results for 2024 are published, and we will keep at it until those who gamble against the Company have understood the message. Given the expected future cash flows, we are in the position to prolong the program when required, since Board and management do not believe that market value has reflected the Company's performance in recent months. To those shareholders who have proven supportive, we have waited for the right moment to strike on your behalf."

"The share buy-back further increases the relative percentage of ownership for our owners, and thereby compounds CLINUVEL'S strategy to minimise dilution. With 1,500,000 shares (or approximately 3% of the outstanding share capital) to be repurchased, we hold a longer-term view on capital management without jeopardising plans to reinvest and expand the Company."

"The first trading days after the buy-back announcement on 14 March dispelled the myth that the share price is reflective of performance only"

All IMO DYOR