Tuesday, 30 March 2010

"Surprise" prognosis on Antisoma

Whither Antisoma, once one of British biotech's greatest stars that's now worth less than its £50m bank balance?
Its shares slumped 75% to 8p yesterday (plus another 1.3p today) after trials of its cancer drug failed - all of which sounds like bad news for patients, investors and, er, the City "experts" who followed the company.
As recently as September, KBC Peel Hunt reckoned the shares were a "buy" at 27p (and set them a target of 70p!) while last month Charles Stanley confidently told its clients to wade in at 35.5p. D'oh!

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