It's interesting that in the aftermath of the BARDA stop work and cancellation of contract, some funds and institutions were buyers. How do you figure that? In fact, aside from a couple of major holders selling out/down, the impact at that point seemed controlled.
It will take another three months, alas, to discover the damage to the register caused by the IGLOO trial failure. While Broadfin has bought since then, the selling might have been curtailed by the fact that the stock is so unknown and illiquid that they couldn't sell for cash backing. So they held. Welcome to our little club.
I wonder if BARDA will now feel obliged to offer any compensation for cancellation of the contract, given the Phase 2 result.
Well, the rest is conjecture, and because there is such an information vacuum at present, we'd be just whistling in the wind.
Jim Fox has taken over chairmanship of Genmark Diagnostics. It's a maker
of diagnostic PCR tests, with a strong Australian background. Does PCR for influenza and HRV as a matter of fact, but hardly a portable device. A half a
billion dollar company, Nasdaq listed.
In case anyone local reads this, I'm planning a Melbourne based Ozbiota shareholders (classy) pub meeting in September. Sorrow drowning, at least. More details later.
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