Agreed 100%...with two caveats...
1 - If we get additional broker coverage along with valuation analysis showing that BIOM will, in fact, be worth $50/share once Theratope hits the market. This is one reason IMCL has actually sustained, and actually broke through, it's news related price spike.
2 - If Biomira gets the focus of a major media player, such as NY Times or WSJ. No doubt that BIOM couldn't sustain a price spike to $20....but such an article could do to BIOM's trading range what similar articles have done for ENMD and IMCL. Although we would come down from any initial spike, we could still end up in a trading range between $8-10 for a long time to come. Big media exposure often leads to more frequent media exposure - consider how every minor news item for ENMD hits CNBC - even though it's a tiny, pre-clinical stage biotech.
Given the right circumstances, BIOM might very well continue to trade in it's present range, or significantly higher, even after the news "pop".
SM |
