CUV 0.62% $16.29 clinuvel pharmaceuticals limited

interesting reading, what is next?

  1. 22,691 Posts.
    Thanks to the Groove:

    Herald Sun
    Edition 1 - FIRSTMON 03 NOV 2003, Page 090
    Sun shines on tans without UV
    By Clive Henley

    Epitan (EPT)
    INCORPORATED in 1999, Epitan listed in mid-2000 to commercialise the company's principal skin cancer prevention and tanning product -- Melanotan.
    This product is a novel pharmaceutical that mimics the human body's own skin tanning hormone, alpha-Melanocyte Stimulating Hormone, or a-MSH.
    Epitan's product will give you a natural tan without exposure to damaging UV sunlight.
    The maturity of the project has resulted in granted patents in all major countries. Currently Epitan is in the process of evaluating drug delivery methods such as patches and small implants. This clinical evaluation is anticipated to conclude in May 2004.

    Technical Comment
    It is rare that we revisit a stock in a timeframe of less than a year, but with EPT a full market cycle has been completed since our review in early June.
    Admittedly the price hasn't come back to the mid-20 mark where it sat at the time of the earlier article. Despite this obvious drawback, the current level appears a likely re-entry point.
    The history since June has been a run to a high of 84 in August and a decline to 44 in September.
    This proved to be the low point of a base pattern which demonstrated considerable lateral activity as buyers and sellers battled it out for dominance.
    The buyers prevailed which caused a break upwards in price in early October which peaked at 90 following the latest report.
    The upmove is likely to resume after the recent pullback to current levels of around 75 where there is good support.
    The next move is likely to attain levels around $1.10, however, with little selling likely above 90 this mark could be exceeded.
    * Clive Henley is a technical analyst/adviser with Tolhurst Noall. Phone:(03) 9242 4143

    Column: Analysis
    Section: MONEY

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