Ah well - that's a good question,
@wiet ....
Major price spikes in the absence of an Announcement are always a bit of a mystery and there is no certain answer. I would suggest there are a few factors going here:
- PTX is looking seriously undervalued compared to some other Biotechs - IMU for example. I don't think PTX should have the same MC as IMU because (personal assessment here), I think the IMU portfolio is more extensive and is right in the "hot zone" of Immuno-oncology. However, (personal opinion again ) I don't think IMU is over-valued and I do believe that PTX should have a MC a lot more than one twelfth that of Imugene.
- A lot of IMU holders are also in PTX, and I suspect many more are now diversifying into PTX - with the reasonable feeling that PTX is woefully undervalued
- Ppl who have crystallised losses for tax write offs in other stocks, for EOFY, have realised some cash from that activity and some of them may have been buying PTX today - again because PTX looks seriously undervalued compared to IMU.
- Anyone who has been looking at PTX will know that news on PTX-100 is expected very soon. Tomorrow's presentation by the MD may be interpreted as a clue that the Announcement is both imminent and also good - even though the briefing is about OmniCar.
- "Other" - Phases of the moon, FIIK etc lol.
My personal view is that PTX has huge potential and it would have a much higher market cap if the company communicated as well as IMU does.
I'm hoping that Stevie YC is taking a leaf out of Leslie Chong's book (the IMU CEO), and that tomorrow's briefing will be the start of better and more regular communications from PTX.
I'm certainly planning to watch!!!
Cheers
Dave
