With the latest price slide to 2.45 I've picked up a few shares (albeit at a slightly higher price).
I think the stock has been caught up with selling in other Health/Biotech stocks e.g. ResMed, Mayne, CSL etc...
Their latest announcement confirmed that 6 out of 10 patients that were in the late stages of cancer and who didn't respond to other standard anti-cancer drugs actually had their cancer progession stopped or slowed.
Think about it, these people are on their death bed and no other medicine could help apart from Novogens drug.
The other positive is that these trials are mainly to test how toxic the drug is (which is only moderate according to the announcement) not what the ideal dose is, method of injesting the drug or what cancers it works best against. There is still alot of upside to the drugs performance given they can do further adjustments to doses etc.
Anyway, brokers have downgraded their recommendations but for a patient investor this stock could be quite fruitfull.
Any other comments about the stock are greatly appreciated.
NRT Price at posting:
0.0¢ Sentiment: None Disclosure: Held
