Health Biotech IMU manufacturers vaccines for gastric and breast cancer, it may look / feel like a “penny dreadful” trading at 17c but it does have a market cap of almost $1bn. This is a ‘risk on’ stock and is only likely to rally when the market feels confident enough to take on risk. Right now, it’s a coin toss to guess where it could end although the company has $100mn in cash and a number of promising trials in the pipeline but April was the worst month for US biotech shares since 1997, and the local sector has been caught in the major downdraft.
MM is neutral IMU – one for a high risk punt ~17c for the brave using stops below 15c
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