Most biotechs are set to rally into 2023 following suppression and release of $XBI through institutional channels. Components inside of $XBI that initially contributed to its rise and gains over the years will be the source to start the process again.
Couple shots on goal here in the near term, mainly accelerating revenue based off existing sales of PCR based COVID tests plus a new 12-min rapid antigen test coming in Feb. This is a turnaround play as the stock was previously priced for bankruptcy. Valuation should be 10-12x sales or $25-$30. Patience on this one, its a slow grinder.
Company has been plagued by system issues, dilutive financing, short sightedness and questionable management; all of which are great reasons to say the bar is about as low as it can get on this one. About a year ago a small biotech hedge fund took control (DAFNA), kicked out the CEO and installed new blood. DAFNA also brought in a high caliber roster of...
