Oh boy, money was wasted on this during the GameStop craze and sold off last year before the current rock bottom. But why my interest has now reawakened in this company that has caused bitter losses for many is because;
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Ctxr owns over 90% of a spinoff company called Ctor, which is responsible for the company’s FDA-approved drug LYMPHIR, developed to combat a rare skin cancer. CTOR’s market value is 120mUSD (with a very small free float of just over 300k shares). The drug is expected to enter the market soon.
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Mino-lok is a treatment/drug that has successfully completed Phase 3, developed for preventing/treating venous catheter infections. It currently has FDA fast track status.
CTXR’s current market value is 28mUSD, with about 8 million shares. It has one completed and another promising treatment (perhaps) receiving FDA approval.
This hovered at a market value of 200-400mUSD during the craze, before any completed treatments/drugs, from which, due to schedule delays and finally a delisting threat, the stock underwent a 25:1 reverse split.
All in all, I myself decided some time ago that I would no longer touch biotech, BUT as an unwavering Helsinki investor, I consider the current risk/reward ratio to be smaller than playing colors on a casino roulette.