THE CLINUVEL SHARE BUYBACK, page-81

Very interesting week just gone. Clinuvel released excellent results last Thursday with nicely growing profits and cash pouring into the kitty, the annual report contained many mentions of the enormous boost that Vitiligo will give in Revenues and they just appointed one of the worlds Vitiligo experts to the board. Blockbuster Vitiligo Phase 3 running, slated for FDA submission 2026, drug already FDA approved and SAFE for EPP. Vitiligo TAM mentioned $4.5 BILLION USD and 9% penetration years 1-2 giving $490 - $570 Million USD. Compelling pictures of treatment shown and lots of centres ready to go if/when approved.

Despite this the shorters carefully dropped the share price every single day this week on low volume. (Cash burning and triple market valued Disc keeps going up in value despite Clinuvel chewing up the EPP market all to themselves and despite Disc flunking a P2 trial for EPP - their lead drug?). The Clinuvel share buyback is allowing this undervaluation to continue by only buying a pittance of what is required to complete the share buyback on time, ie it looks like they will not fulfil their own words at this stage. As I said the other day, Clinuvel is the only company in the history of share buybacks I know of where every single day they have bought back shares the share price has fallen, generally buybacks will increase SPs. This is despite Clinuvel enjoying growing profits, massive cash reserves, absolute monopoly status, Blockbuster trials and generally being in the best position they have ever been in while they are also probably more undervalued than ever. Only a very small fraction of the nearly $200 Million cash pile CUV is sitting on will be used by the buyback so what are they doing? Let's see what the next week brings, we know it will bring more profits, cash and the Phase 3 blockbuster completion a little closer. Will Clinuvel begin the buyback in serious fashion, or will they allow the shorters to keep writing the CUV narrative?

ALL IMO DYOR