speculative buy

Bought back at 3.4 on the close. This from Criterion in today's Australian:


"Cellmid (CDY) 3.3c

OUR latest Biotech Big Mover accolade goes to this heart disease minnow, stock of which gained as much as 38 per cent on turnover of 116 million shares.

Unlike other recent examples, there was at least a decent announcement to justify the interest.

Cellmid has signed a deal with Hungarian research house Pharmahungary, by which Pharmahungary will fund Cellmid's early clinical programs for midkine (for acute myocardial infarction).

Although there are other treatments for side-effects, such as high blood pressure, there's nothing out there to prevent the death of cells as such.

Cellmid chief Maria Halasz says it chose Pharmahungary for its network of clinical centres.

As for yesterday's share trading, it's another apparent case of highly organised day traders swooping big and swooping fast. "We know who holds 60 per cent of the shares and these people are not trading it," Halasz says.

Speculative buy."