Shorts - general info, page-188

It's possible Investek that you are right but it would be a massive risk and exposure they have taken just on the hope that Clinuvel will drop out of the ASX200. It would seem very unlikely this would happen now that FDA approval is ticked off and US rollout is well underway not to mention XP and the rest. So I still think my hypothesis is a bit more likely as CUV did fail to achieve FDA approval a couple of times earlier on in their history, and with the FDA extension shorters likely took the view of 'here we go again' - lucky they got that wrong or we would have been in trouble and shorters would have made plenty. FDA approval was unanimous I believe so a good signal to future indications like XP, Vitiligo and hopefully skin cancer prevention bearing in mind that Safety is of paramount importance to these regulators.

Either way it's great to have these discussions and it is really good news no matter what the short sellers reasoning is because they have not been able to close out their positions with any large scale success to this point in time. They were even shorting CUV when the company share price collapsed (shorters probably forced the collapse) earlier this year and of course all those positions they took in the mid-teens they lost plenty of money on. Ultimately short selling a very profitable, debt free, growing, relatively undervalued stock that continued operations without much disruption even by COVID will prove to be unsustainable for too much longer. Revenue and profit increases, pricing in of new indications, and new buyers coming in will put them off. Risk versus reward is already stacked heavily against shorters, over time it will become ridiculously stacked against them.
All IMO