Not many eyes on this one yet guys but the potential here is huge with phase 1 trials starting in July for the anti fibrotic drug VB0004
This drug has been proven in mice to not just stop but actually reverse the affects of fibrosis effectively replacing scar tissue with healthy tissue, the market for these drugs is huge I believe around 50-100m people a year worldwide are affected by fibrosis in one form or another.
Add to that Low SOI of ~ 31.65m mostly held tight by directors and top 20 this has the potential to move very fast when the trials get underway next month.
Anyway enough of the FA
Here's my chart with the Elliot wave count, I believe today we are at the beginning of w(1) of the higher division wave 5. You'll need to put your chart to heikin-ashi for this one as the liquidity is poor due to such low SOI and being so tightly held hence lots of gaps on the candlestick chart, HA connects the dots and makes it easier to see how its moving, also throw it into Log to see the trend that's developing.
If I'm right here Wave 5 will take around 3 months to play out and I have a target around the $3.50 mark assuming the trial provides the results we are hoping for, w(1) should test the most recent high of $1.54 and then backtest the $1.35 see chart for the rest, obviously this is reliant on the fundamentals providing but the time scales on the chart fit quite nicely with the trial commencement.
This is a bit of a slow burner so don't expect too much excitement although todays volume and PA was little more interesting than usual lets see if it continues into tomorrow and next week.
@Assassin617 what do you think to the count.
(20min delay)