# ACR - Acrux Limited



## Gurgler (14 March 2007)

I'm interested in this biotech which has 7 products in development focused on their own non-invasive alternative-delivery method - a transdermal spray onto the skin for absorption over a 24 hour period. Over the past seven years, they have evolved to the stage where they have partners for four products - including CSL, Vivus, EliLilly and Organon (the latter signed up just last week). They also appear to have an impressive array of industry experience in there management team.   

Could be one to watch in these turbulent times - up 5 cents (4.17%) today against the flow!

For their Investor presentation see their Company website:
http://www.acrux.com.au/IRM/content/default.html


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## Go Nuke (14 March 2007)

*Re: ACR - Acrux*

Yeah ive been watching this stock for awhile along with AVX.
I must say, Im impressed with how well it withstood the last couple of weeks with the lows of the stockmarket.

If I had some extra cash i would throw some at it.
Mind you...has it been overbought maybe?Can we see a correction in the future? I dunno.

Im sticking with the resources mostly though for the time being. I feel that Bio stocks are a bit hit and miss. If a product works...great..if not...well..bad.
At least i KNOW people out there want my resources...and they work!

Still it look sgood to me.


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## Go Nuke (19 March 2007)

*Re: ACR - Acrux*

Hmmm..wish i had that extra cash still
Im just watching it go up and up.
Might put a buy in at $1.10 IF...it falls that far in the near future.


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## Halba (19 March 2007)

*Re: ACR - Acrux*

wowww its gone to 1.40. Another miss go nuke?

Note:

I have no idea re: fundamentals of this co


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## Go Nuke (19 March 2007)

*Re: ACR - Acrux*

Yeah mate
Im not sure if Ive missed the boat or not.
I just asked Kennas for an interpretation of their chart. Im still very new to all this. Just getting experience

Im hopeing it takes a bit of a fall..(fingers crossed)

Almost doubled since Jan


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## Gurgler (19 March 2007)

*Re: ACR - Acrux*

Have a look at slide 8 of this presentation - entitled:  *Investor presentation at Australian Biotechnology Expo, 14 June 2006* at 
http://www.acrux.com.au/IRM/content/default.html

Very impressive: 7 products, three in Phase 2 with already with potential distribution partners.


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## Halba (19 March 2007)

*Re: ACR - Acrux*

Looks impressive but I note they only get royalties/licensing fees (not the full hog) and they made a loss.


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## Go Nuke (19 March 2007)

*Re: ACR - Acrux*

Surely it cant sustain that kind of climb without coming down soon?


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## Gurgler (31 March 2007)

*Re: ACR - Acrux*

That's what we need - a retrace so we can buy in!

These biotechs can be volatile from time to time. Keep watching. Check out CYT also.


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## Go Nuke (24 April 2007)

*Re: ACR - Acrux*



Gurgler said:


> That's what we need - a retrace so we can buy in!
> 
> These biotechs can be volatile from time to time. Keep watching. Check out CYT also.




Your chance might be comming up on this one Gurgler.
Its starting to take a bit of a fall, though Ive not looked at the sp chart for a bit, so have no idea when its going to turn around

Maybe they have alot of their money pooled into CUV
Its dropped off a bit too lately.


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## Gurgler (24 April 2007)

*Re: ACR - Acrux*

Yes, still keeping an eye open. I'm not that experienced with charts but the MACD is still heading south, atm.

Resistance levels, anyone?


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## Go Nuke (25 April 2007)

*Re: ACR - Acrux*

Well the SS is moving into oversold space I think, but the next resistance level looks to be around $1.10.


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## Gurgler (8 May 2007)

*Re: ACR - Acrux*



Go Nuke said:


> but the next resistance level looks to be around $1.10.




Go Nuke, I reckon this might a turning point. Look at the current MACD flattening out and perhaps moving into a change. What do you think?

Bioshares recommend as a Speculative A Buy.

*And this from Bio Intelligence:*
Acrux completes enrolment in key Phase 2 trial 
Acrux (AUSTRALIA) 
May 2, 2007 
 • 40 patients successfully enrolled in final Phase 2 trial of Testosterone MD-Lotion ® for men with testosterone deficiency
• Preliminary results expected July 2007
• Phase 3 trial requirements well defined and considered low risk
• Strong global commercial prospects

o Target market US$0.6 billion, growing at 14%
o Preference over existing products confirmed by market research with patients in USA
o Key product attributes covered by patents granted to 2017 and pending to 2026

Melbourne, Australia, 2 May 2007: Drug delivery company Acrux (ASX: ACR), announced today that it has successfully completed enrolment of 40 patients in the final Phase 2 trial of its unique testosterone lotion for treatment of testosterone deficiency in men. Preliminary results of the trial are expected to be available in July 2007. 
(source: http://www.biotech-intelligence.com/html/html/pool_4/ffbe9e55e49e323d13977754f0bd27d1.html)


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## Go Nuke (16 May 2007)

*Re: ACR - Acrux*

Anyone got an thoughts on this stock?

Ive been watching it for a while. Its going sideways at the moment.

Will it go up from here or down????

Has anyone done any research about Acrux?
I know the biostocks report that Kennas sends me holds Acrux. {thanks again for that Kennas}


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## Gurgler (1 June 2007)

*Re: ACR - Acrux*



Go Nuke said:


> Anyone got an thoughts on this stock?
> 
> Ive been watching it for a while. Its going sideways at the moment.
> 
> ...




Bit of a recovery there, Go nuke! Forming a cup of sorts - bit ugly at the end of April, though. Will watch to see how it goes.


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## Go Nuke (15 June 2007)

*Re: ACR - Acrux*

Setting new highs now!

Buying in at $1.25 would have been good!

This stock was mentioned in Kennas Biostocks report that he forwards me awhile back as a Speculative Buy Class A I think.

I dont hold, but its looking good at the moment.


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## Bungay (17 June 2007)

*Re: ACR - Acrux*

Yep little interest in this one on this forum but yet slowly making its way up.  A better story I reckon than ACL or CXS.


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## Go Nuke (18 June 2007)

*Re: ACR - Acrux*



Bungay said:


> Yep little interest in this one on this forum but yet slowly making its way up.  A better story I reckon than ACL or CXS.




Ahhh CXS is the other stock in my watchlist
Its a pretty good looking chart..but Ive no cash to spare.
Besides Im a bit wary of the biostocks a little after looking at my AVX and CUV shares lately

I personally would buy into ACR if I had the opportunity.


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## Gurgler (16 July 2007)

*Re: ACR - Acrux*

Trading halt last Thurs (12/7) ahead of todays ann. and voluntary suspension.

Placement to investors coming up, so how much do people think the sp will jump on Wed, come open?

This company certainly seems to have legs. What with the satisfactory completion of Testosterone Lotion Phase 2 trials and positive trial results of the combination contraceptive sprays in the past fortnight, it now has four products having satisfactorily completed Phase 2 trials using their transdermal spray technology.

(Disclosure: NOT holding)


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## Gurgler (22 September 2007)

*Re: ACR - Acrux*

Been a bumpy ride for this stock (and most Biochems) over the past year. I bought in during the recent slump as I believe the portfolio of products (see below) and the technology still have a sound future. However, still heading south .

If you check out their website (http://www.acrux.com.au/IRM/content/products/default_frame.html) you can get more info on the individual products.


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## Go Nuke (24 September 2007)

*Re: ACR - Acrux*

Yeah Gurgler I still have this on my watchlist.

To me it looks like an ugly head and shoulders fromation, which i believe isn't a very good sign.
Ive noticed that the multiple moving averages are all travelling downwards too.
I too still think that this is a great company though. It always gets a mention in the Biostock newsletter that Kennas kindly forwards too me.

Hang in there mate. Gues it might just be turning from a trade to a "longer term investment"


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## Gurgler (6 May 2008)

*Re: ACR - Acrux*

Big spike in volume today! Something's up. Is that an inverted head and shoulders, techies - possibly with epaulettes?

Wonder if it is company specific or related to the pro-Australian biotech article I was reading earlier today - see link. 

http://business.theage.com.au/australia-can-be-trial-hub-biotech-review-told/20080505-2b4w.html


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## Gurgler (7 May 2008)

*Re: ACR - Acrux*



LittleFish said:


> The volume on ACR was due to Opus Prime doing a cross trade of the 10 million shares they still had to liquidate, to a private investor.
> 
> It could well move up from here quickly without the Opus shadow hanging over it.
> 
> Little Fish (big pond)




How does this figure with the ACR ann on ASX (listed below)? Or am I missing something?

http://www.asx.com.au/asxpdf/20080507/pdf/31900gmytw5bdy.pdf


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## Mutley (21 May 2008)

*Re: ACR - Acrux*

I see Ross Dobinson (director) sold all his shares (9.20% of market cap) as a result of Opes Prime...this may have been the good buying opportunity supporters were waiting for


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## petervan (30 June 2008)

*Re: ACR - Acrux*

Commences phase 3 trial of testosterone md lotion vetinary phase 3 trial.      Roadshow commences in July.                                                        Chairman buys back 3.3million shares taken by ANZ.                            Spoke to directors last week and sounded bullish with more news coming in and revenue.                                                                                  Up 25% last week.


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## Gurgler (2 July 2008)

*Re: ACR - Acrux*

Bit of a retrace underway, but still optimistic on this stock, given Phase 3 trials well underway:

Today's FN Arena:

Acrux A Standout Life Science Play
FN Arena News - July 02 2008 
By Chris Shaw

*Excerpts:
...  according to ABN Amro Morgans Acrux (ACR) is one such stock, the broker seeing the company as a standout in the sector and initiating coverage on the company with a Buy rating .....

... the product is targeting a market worth around US$1.4 billion and given the company has a solid partner in KV Pharmaceuticals there is hope peak annual sales can grow to something in the order of US$125 million  .....

.... the broker expects group revenue will grow to around $3.8 million this year, $6.3 million in FY09 and $19.5 million in FY10, which in that year would translate into a profit of around $8.1 million......

The broker values the stock at $2.09 and has set its price target at this level, which implies significant upside given the stock is currently trading at around the $1.20 level. *


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## Go Nuke (2 July 2008)

*Re: ACR - Acrux*

yeah breaking above $1 was really positive for this stock.

I'd go as far as to say its now in an uptrend.

Its all on low volume though with this company. but then again CXS is a bio that trends up well on low volume.

Goodluck to those that hold


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## Go Nuke (28 July 2008)

*Re: ACR - Acrux*

I'd have to say this is definitely a *Buy* has been for sometime I think.

Chart is trending up nicely and brokers have had a buy on this stock for ages.

Bit of resistance to get through coming up, but it might just bounce between $1.30 and $1.40 if it gets there.

(I don't hold any ACR)


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## michael_selway (28 July 2008)

*Re: ACR - Acrux*



Go Nuke said:


> I'd have to say this is definitely a *Buy* has been for sometime I think.
> 
> Chart is trending up nicely and brokers have had a buy on this stock for ages.
> 
> ...





Hm not too bad

*Earnings and Dividends Forecast (cents per share) 
2007 2008 2009 2010 
EPS -5.7 -3.7 -3.5 15.3 
DPS 0.0 0.0 0.0 0.0 *

Business Description 
Acrux Limited is a pooled development fund investing in pharmaceutical products intended to enable safe and effective delivery of a broad range of drugs through the skin known as transdermal drug delivery. ACR holds IP to transdermal drug delivery technology platform made up of Across Enhancers, MDTS and the Patchless Patch. 






thx

MS


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## dizzy (31 July 2008)

*Re: ACR - Acrux*

I'm an Acrux fan - I bought in at the IPO in 1999 and have held my shares ever since. New positive announcement today - here are some excerpts:

ACRUX REPORTS POSITIVE RESULTS OF US PHYSICIAN MARKET RESEARCH ON TESTOSTERONE MD-LOTION ®

91% of physicians surveyed in the US rated Testosterone MD-Lotion as very good or excellent in being able to improve the patient experience, compared with existing gel treatments 87% of physicians said they would offer Testosterone MD-Lotion to their existing gel patients

Acrux CEO Richard Treagus said “This positive endorsement of Testosterone MD-Lotion by a cross section of US physicians complements the strong patient preference already shown by our previous research. This provides the clearest indicator yet of the potential for the Acrux product to capture a significant share of the US$900 million testosterone therapy market”.


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## Go Nuke (11 August 2008)

*Re: ACR - Acrux*

Anyone got any ideas as to the trading halt?

How much cash have they got? Capital raising.....or possible partnership I wonder.

My internet has been capped from excess usage (for 2 more days anyway), so browsing newswebsites with heaps of ads etc is impossible when you have been limited to about 6kbs


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## Gurgler (9 January 2009)

*Re: ACR - Acrux*

Something's up here - anyone with any biotech insight?

Gone from 48 to 69 today - that's 43% without any announcement; speeding ticket on the way!


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## Go Nuke (9 January 2009)

*Re: ACR - Acrux*

7.2+ Mil shares got XTOS'd this morning.

Perhaps an insto taking a position in ACR.
I haven't really been following shares too closly lately.
Its been a bit depressing and so my interest has lost its way


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## Gurgler (11 May 2009)

*Re: ACR - Acrux*

Interesting movement in the past couple of months.

Could this mainly be related to their Phase 3 trial for Testosterone MD-Lotion ®, which is now re-named under the AXIRON brand (see attached)?

Any upward movement is welcome of course, as long as it can be sustained!


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## matty193 (11 May 2009)

*Re: ACR - Acrux*

Have been watching this one for a while myself and was about to make a post too.

Does seem to have come along nicely over the last couple months, while the last two days have certainly been standouts. Greater gains and volume for this small stock.

While you probably couldn't call 0.70 a resistance level, it has certainly shot through the most recent high.


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## Gurgler (12 May 2009)

*Re: ACR - Acrux*



matty193 said:


> While you probably couldn't call 0.70 a resistance level, it has certainly shot through the most recent high.




Shot through 80 as well today. In answer to the ASX speeding ticket query, ACR responded:

Overnight on Thursday 7 May, the US Food and Drug Administration (FDA) announced that it is requiring manufacturers of two prescription topical testosterone gel products, AndroGel ® and Testim ®, to include a boxed warning on the products’ labels. The FDA is requiring this action after receiving reports of adverse effects in children who were inadvertently exposed to testosterone through contact with another person being treated with these products (secondary exposure). The required label changes will provide additional information about the risk of secondary exposure and the steps that should be taken to reduce this risk. AndroGel ® and Testim ®, which are approved for use in men who either no longer produce testosterone or produce it in very low amounts, are the principal competitor products in the market targeted by Acrux’s product AXIRON™, which is nearing the end of Phase 3 trials. *One of a number of advantages of AXIRON™ compared with these products is a reduced risk of secondary exposure.*


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## Go Nuke (18 May 2009)

*Re: ACR - Acrux*

Still following this stock I see Gurgler.

Do you hold this stock?

Ive watched it for years and was amazed to see how much it has taken off recently.
Undoubtably it would be in aticipation of the phase 3 resluts due soon.

Well done to those that have held onto this stock from its highs. The rewards may be nearing for you

ps I do not hold this stock.


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## craigj (24 May 2009)

*Re: ACR - Acrux*

bought into this company because i really like what they are developing

Hormone replacement therapy and contraception are two areas that have massive markets that will continue to grow in time
they have multiple products already generating some sales with others still at testing stage
a read of their quarterly newsletter is encouraging
their shares continue to climb a few % each day


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## Gurgler (1 June 2009)

*Re: ACR - Acrux*



Go Nuke said:


> Still following this stock I see Gurgler.
> 
> Do you hold this stock?




Yes, GN still in there and intending to stay the distance. The products that this stock possesses augur well for ongoing positive movement. As you can see there has been consistent volume over the past month.

Does this bode well for continued growth or does it prempt a retracement? Time (and the market) will tell.


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## Go Nuke (20 October 2009)

*Re: ACR - Acrux*

Wow...cant believe there are no new posts here!!!!

Acrux has gone bluesky!!

I should have bought on the breakout above $1.70. Looks great today!

One of the first stocks I stated watching...but yet never owned.
Too late too, as I bought CXS today, as I think its ready for another break upwards.

Cant be in everything I suppose.

Congrats Gurges:>


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## matty193 (20 October 2009)

*Re: ACR - Acrux*

I've been wanting to buy-in ever since I watched months of sideways movement early this year only to watch it skyrocket. Each time I've convinced myself it will pullback... but then today happens, etc.


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## tech/a (21 July 2011)

*Re: ACR - Acrux*

Another which has escaped Fundamental scrutiny of "Value" investors.


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## McCoy Pauley (21 July 2011)

*Re: ACR - Acrux*

Roger Montgomery wrote about Acrux in the Eureka Report last night. So it's not escaped the attention of all value investors.


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## VSntchr (21 July 2011)

*Re: ACR - Acrux*

I have had it on my watchlist for over a year now...I'm not sure whats holding me back...even at this prices...maybe its just due to my personal vendetta against big pharma??

Still watching with interest however.


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## skc (21 July 2011)

*Re: ACR - Acrux*



tech/a said:


> Another which has escaped Fundamental scrutiny of "Value" investors.




On what grounds do you make the above observation?


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## tinhat (21 July 2011)

*Re: ACR - Acrux*



tech/a said:


> Another which has escaped Fundamental scrutiny of "Value" investors.




As a value investor, I've beendoing very well out of ACR in recent months. I bought at 310c, sold at 381c, bought back in at 342c and I see that today it is at 415c which is above my valuation, so I might have to put a stop loss on it.

ACR are due to report around about the 22/08/11. It will be interesting to hear if there will be another milestone payment from Eli Lilly soon and if it weill be distributed as a dividend.


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## herzy (21 April 2012)

*Re: ACR - Acrux*

Just wondering if anyone has anything to add about ACR recently? Hovering around 3.95, I've always liked this share but am not convinced to go in so close to $4


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## Out Too Soon (30 January 2013)

*Re: ACR - Acrux*

Looking healthier now



nice rising price wedge has broken out


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## tinhat (11 February 2013)

*Re: ACR - Acrux*

ACR has had a nice run-up starting in Nov 12. On the weekly chart, if it does have a pull-back over the next few weeks, that could form an inverse head-and-shoulders pattern. I'll keep watching the price for a pull-back opportunity.


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## Country Lad (11 February 2013)

*Re: ACR - Acrux*



tinhat said:


> . I'll keep watching the price for a pull-back opportunity.




I have heard a few people saying that "I'll buy on a pullback" which intrigues me somewhat.  If a share is showing positive signs which signal a buy, and the market action is also positive, then I do just that - buy it, and if the signals are not there, I don't buy it.  To wait for a "pull-back" seems a bit odd to me because if it pulls back, then it quite likely has failed and could pull back a lot after you buy it.  Not a concept I understand due to adding a probability of missing a run.

In any case, ACR is a very simple one for me, if it pulls back, the pattern has failed and it is ignored.  If it breaks up and the market action is good, I will buy.

Cheers
Country Lad


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## tinhat (12 February 2013)

*Re: ACR - Acrux*



Country Lad said:


> I have heard a few people saying that "I'll buy on a pullback" which intrigues me somewhat.  If a share is showing positive signs which signal a buy, and the market action is also positive, then I do just that - buy it, and if the signals are not there, I don't buy it.  To wait for a "pull-back" seems a bit odd to me because if it pulls back, then it quite likely has failed and could pull back a lot after you buy it.  Not a concept I understand due to adding a probability of missing a run.
> 
> In any case, ACR is a very simple one for me, if it pulls back, the pattern has failed and it is ignored.  If it breaks up and the market action is good, I will buy.
> 
> ...




Thanks for the feedback and the chart Country Lad. That's my problem, I generally tend to miss most opportunities rather than pull the trigger. Acrux is looking like it may have started a solid run looking at the daily chart, but on the weekly it looks like it might be about to pull back. It's hesitating at the 200 day MA (5.53).

What I am suggesting is that a pull-back to somewhere around the 3.25 - 3.30 area would not break the momentum in my opinion. I also agree that waiting for a pull-back for entry might be missing an opportunity.

Anyway, it's nice to have a chat with someone here about stocks. You wouldn't know it was reporting season. You would think that after all the hand-wringing in the TLS thread over the past year or so, the TLS results would get at least one comment! There you go.

Do you know when Acrux is due to report?

ACR is one of the very few stocks that I have traded in and out of over the past couple of years. It came up in my filters on the weekend.


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## tinhat (12 February 2013)

*Re: ACR - Acrux*

ACR - doesn't appear to have started trading today. The market data I am getting in comsec is pre-open data with no trades recorded yet. !?!!


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## tinhat (12 February 2013)

*Re: ACR - Acrux*

Open was delayed due to announcement of granting of patent in USA for their armpit testosterone. I found this info on another forum. I bought today at 3.80 - yes, call me crazy buying on an announcement.


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## Country Lad (12 February 2013)

*Re: ACR - Acrux*



tinhat said:


> Do you know when Acrux is due to report?




22 Feb 

Cheers
Country Lad


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## notting (12 February 2013)

*Re: ACR - Acrux*



tinhat said:


> yes, call me crazy buying on an announcement.




I thought there was some kind of setback with respect to government approvals last year sending it into a tail spin.
Perhaps the market is mistaking a patent for an acceptance?


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## skc (12 February 2013)

*Re: ACR - Acrux*



notting said:


> I thought there was some kind of setback with respect to government approvals last year sending it into a tail spin.
> Perhaps the market is mistaking a patent for an acceptance?




21 June 2012 they indicated problems with the patnt application.

Important to note that they are already selling the drug using the underarm application. So the patent stops others from using the same delivery methodology (or they have to pay ACR/Lily for the privilage), but it doesn't directly change the sales revenue of the drug.

The fall of ACR really started back in Aug when they reported poor figures...so fundamentally little has changed.

The chart today is showing that buyers got a bit over excited on the news... it remains to be seen if the gap would close at ~$3.60 over the next day or two.


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## notting (12 February 2013)

*Re: ACR - Acrux*

Thanks SKC nice and clear as usual


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## tinhat (12 February 2013)

*Re: ACR - Acrux*

Sold for 3.89 for $475 profit on a $20000 trade. Was it worth the risk?

It looks like there was a panic buy early in the day (short covering?). It's not looking likely that the price will close above the open. I might put another buy order in down inside the gap at around $3.70. I've got some other orders in the market so depends on what happens there.


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## notting (12 February 2013)

*Re: ACR - Acrux*

With respect to the patent, according to some, it makes it an attractive take over and there are a few rumours floating around about a US company that is *possibly* taking a bit of a look.
That is helping fuel the bounce.
In these situations I find it's usually more enjoyable to let it do some rehab first.


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## Miner (19 November 2013)

*Re: ACR - Acrux*



tinhat said:


> Sold for 3.89 for $475 profit on a $20000 trade. Was it worth the risk?
> 
> It looks like there was a panic buy early in the day (short covering?). It's not looking likely that the price will close above the open. I might put another buy order in down inside the gap at around $3.70. I've got some other orders in the market so depends on what happens there.




Tinhat

I was browsing on ACR threads and found your posting.
What do you think of your decision made in Feb 2013 with current price. Felt lucky hey?
great job done.
What do you think of ACR today ? Re-entry level ?


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## tinhat (19 November 2013)

*Re: ACR - Acrux*



Miner said:


> Tinhat
> 
> I was browsing on ACR threads and found your posting.
> What do you think of your decision made in Feb 2013 with current price. Felt lucky hey?
> ...




That was a bit crazy. It was pure luck and not a sensible thing to have done.

I actually had two further trades in ACR.

Buy 15/2/13 @ 3.71, sell 22/2/13 @ 3.93 for 7% gain
Buy 21/2/13 @ 3.66, sell 22/2/13 @ 3.93 for 4.8% gain

I'm not really sure what I as thinking back then.

I've been watching the chart lately but not the company. I can only assume that the market no longer believes the outlook justifies the stratospheric PEs.

Do any T/As have an opinion on the bearishness of a tripple-top? The monthly is showing a triple top and the chart looks very bearish.

Looking at the Thomson Reuters consensus forecasts of six analysts the current price gives a forward looking PE of 11.71 for FY14 with an expected dividend of 19cps (yield of 7.31%) and 8.61 for FY15 with an expected dividend of 34.50cps (yield 13.27%).

I would be interested to hear more on the outlook for this company from anyone who is following. I will look at it again when it demonstrates it is in an up-swing.


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## skc (4 February 2014)

*Re: ACR - Acrux*



tinhat said:


> I would be interested to hear more on the outlook for this company from anyone who is following. I will look at it again when it demonstrates it is in an up-swing.




This name is in a bit of trouble... FDA is investigating potential safety concerns in TRT. Given the mostly discretionary nature of ACR's drug, the sales and royalty stream could be hit pretty hard. The investigation is not final yet, but unless they have something pretty positive to say, it won't be pretty when it re-opens.

This reminds me of MMS... when some trading was allowed before the company is placed into a trading halt, even though the news was already out first thing in the morning.

This from AFR



> Drug delivery company Acrux has entered a trading halt on a day that investors sent the stock plunging on the back of reports that the United States regulator will investigate whether testosterone replacement therapy increases the risk of stroke and heart attack.




http://www.afr.com/p/business/companies/acrux_enters_halt_shares_down_pc_Wx9kCGxI7Z8eOzijkhieiP

And this from the Motley Fools 



> Drug delivery company Acrux Limited’s (ASX: ACR) shares have tumbled 10.3% before being placed in a trading halt at 2.56 pm on Tuesday.
> 
> Around 4.4 million shares had changed hands before the trading halt occurred, however the reason for the sell-off* remains unclear.*






> Market routs such as this can create great buying opportunities for investors. Sell-offs are often sudden with subsequent rallies equally as quick. Savvy investors need to be alert and ready to act when opportunities present themselves.




http://www.fool.com.au/2014/02/04/acrux-limited-tumbles-10-3/

Lol Fools! Get on with the program!


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## Fire Bull (7 February 2014)

*Re: ACR - Acrux*

I owned Acrux but recently sold my stake on the back of the recent bad news. I've described my experience in more detail here. I too was worried about the discretionary nature of its testosterone replacement therapy. It'll be interesting to see if the recent negative publicity and pending investigation by the FDA leads to a significant drop in sales in the future.


----------



## skc (6 March 2014)

*Re: ACR - Acrux*

Share price down 9% possibly on the back of this.

http://www.baystreet.ca/viewarticle.aspx?id=412728



> Cochran Firm, D.C. Investigating AndroGel, Axiron and Other Potential Testosterone Replacement Therapy Lawsuit Cases




FDA investigation might be driven by facts and safety, while law firm investigation would be driven by fine and liability.

Another trading halt and carefully worded statement coming soon... probably along the lines of "no basis" and "vigorously defend any accusations".



Fire Bull said:


> I owned Acrux but recently sold my stake on the back of the recent bad news. I've described my experience in more detail here.




Nice blog


----------



## skc (28 April 2014)

*Re: ACR - Acrux*

Shorted these guys at $1.58 this morning for a tiny position (about 1/10 of what I would have taken) as I was trying to save a few ticks) and closed it at $1.42.  What's that saying? Don't be a dick for a tick.

The last few times this stock release bad news, 10% seems to be the norm in terms of falls. May be the penny finally dropped today that this company's future earnings is likely to be substantially less than what people had wished for. Down 30% and even triggered a reg_hlt. 

What I can't understand is that, industry sales figures are regularly updated (weekly or fortnightly) so how can the market take so long to mark it down. It would have been a great short back in Feb when the safty concerns first flared up.


----------



## Faramir (28 April 2014)

*Re: ACR - Acrux*



I thought $1.955 was OK.

:hide:


----------



## skc (29 April 2014)

*Re: ACR - Acrux*



Faramir said:


> I thought $1.955 was OK.
> 
> :hide:




Get out of the chair and think forward. Your purchase price is sunk cost and has little bearing except tax consequences. 

So review your outlook, your decision to hold and learn the lessons as you go (hey that rhymes).

Good luck.


----------



## Faramir (29 April 2014)

*Re: ACR - Acrux*

Thank you skc. I brought a small amount as my first share purchase. I am going to hold. I have learn much since then.


----------



## Faramir (25 July 2014)

*Re: ACR - Acrux*

Some good news
http://www.asx.com.au/asxpdf/20140725/pdf/42r0lc8tfz3757.pdf

New CEO
http://www.asx.com.au/asxpdf/20140725/pdf/42r0l2lvzhv9kq.pdf

Closed at $1.520. Up from yesterday's $1.155.


----------



## goccipgp (25 July 2014)

*Re: ACR - Acrux*

Acrux Limited soars on positive quarterly sales numbers. The positive news would propel it up to 1.775 in short term according to au stoxline.


----------



## burglar (7 September 2014)

*Re: ACR - Acrux*



goccipgp said:


> Acrux Limited soars on positive quarterly sales numbers. The positive news would propel it up to 1.775 in short term according to au stoxline.




I hope you all, had a trailing_stop in place!

S&P DJ Indices Announces September Quarterly Rebalance:
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01550341


05 Sep 2014	1.610	 -15.71%	1.900	1.515	4,652,648


----------



## Faramir (7 September 2014)

*Re: ACR - Acrux*

No. I was away from the computer all day Friday.

There are 3 products in the market: Axiron, Evamist & Recuvyra with Axion being the most dominant.

Revenue for 2013/2014 up 223% ($53.859 mil)
Profit for 2013/2014 up 304% ($27.97 mil)
Dividend 8c per share fully franked.

I am missing something. This is the second time I have watched ACR drop. I am long term holder. Many people will think I am wrong.

Thank you Burglar for your contribution.


----------



## burglar (8 September 2014)

*Re: ACR - Acrux*



Faramir said:


> ... I am missing something ...




These "Fundamentals" control the value of the company.
Other much different factors control the "Share Price".

Share price, over a long period, oscillates towards Value.
Over short timeframes, Share Price does not respect Value.



It is an auction! 

This may help ?? or not? 
Best post I have seen on AUCTION ACTION: 

https://www.aussiestockforums.com/forums/showthread.php?t=27685&p=802890&viewfull=1#post802890


----------



## skc (8 September 2014)

*Re: ACR - Acrux*



burglar said:


> S&P DJ Indices Announces September Quarterly Rebalance:




I don't know if this was the cause of the fall. The S&P 200 Australian index is more gimmick than substance.

Whereas this might be the true trigger for the Friday plunge.

http://www.usnews.com/news/business...little-evidence-to-support-testosterone-drugs



> The Food and Drug Administration says there is little evidence that testosterone-boosting drugs taken by millions of American men are beneficial, though the agency is also unconvinced by studies suggesting the hormone carries serious risks.




I am not in any position to assess what FDA's finding will reveal. But these guidance notes have caused sales to fall all through 2014. Regardless of what a doctor thinks about the FDA's investigation, prescribing these medications in light of FDA's guidance is really opening themselves up for a potential lawsuit down the track, imo.

It's an existential question for ACR... coupled with a large amount of shorts on the register. The stock will remain wild for some time.



burglar said:


> I hope you all, had a trailing_stop in place!




That is good advice for traders... although the potential for massive gaps (either way perhaps) can't be ignored in sizing a trading position.


----------



## burglar (16 September 2014)

*Re: ACR - Acrux*

I am a person who hates/fears injections!
I feel that this company has a wonderful commercial advantage going forward!!









That being said, I don't currently require any Pharmaceuticals.


----------



## Faramir (16 September 2014)

*Re: ACR - Acrux*

Thank you Burglar for taking an interest in Acrux. Since it was my first stock purchase, my ego will always tell me that I am right. There will be an announcement later this week by FDA.

http://www.fda.gov/AdvisoryCommitte...iveHealthDrugsAdvisoryCommittee/ucm412535.htm

Only part way reading some of these reports. I will comment more later when I have time.

My main comment is that men are vain. First they want hair replacement. Now we can play on their insecurities and tell them that they need 'juice' for energy drive, bedroom drive, etc. I am hoping that Acrux develop other products quickly and that they won't be so dependent on Axiron. Some of their products have yet to enter Phrase One Trials 

SKC is right that this share price will be very volatile. My first mistake is to purchase ACR mid-March instead of waiting until June-mid-July. Feel sorry for those who brought last year to January this year. My second mistake was not to ask questions about their other products and when those products will produce more revenue. I still believe Acrux has a good future. Acrux is also the third most shorted stock. Am I wrong or am I going against the trend?


----------



## pixel (16 September 2014)

*Re: ACR - Acrux*

I am predominantly trading by T/A, using trends of support and resistance, assisted by some indicators of my own.
Have missed the last 20c of profit because I didn't reenter in time. 
Now I'm waiting for the second gradient to be tested. Have set alerts at $1.50 and $1.75.


----------



## skyQuake (18 September 2014)

*Re: ACR - Acrux*

Trading halted now...

Can't believe it was allowed to trade for almost an hr on the back of negative FDA panel recommendations.


----------



## skc (18 September 2014)

*Re: ACR - Acrux*



skyQuake said:


> Trading halted now...
> 
> Can't believe it was allowed to trade for almost an hr on the back of negative FDA panel recommendations.




Yes bloody slack governance by the board and ASX.. but great for holders who had their ears to the ground and get out on the open.

(Or shorters making a good profit )


----------



## pixel (18 September 2014)

*Re: ACR - Acrux*



skc said:


> Yes bloody slack governance by the board and ASX.. but great for holders who had their ears to the ground and get out on the open.
> 
> (Or shorters making a good profit )




Given the chart patterns of recent weeks, with diverging momentum persisting for the last four, nobody can tell me that there haven't been some whispers on private lines suggesting "get out because..."

Level playing field, my tired foot 




In any case: My $1.50 alert went off and went by without me buying because the second gradient *did not hold as support.* No further explanation needed why I don't set automatic conditional orders, but always reserve manual control.


----------



## skc (18 September 2014)

*Re: ACR - Acrux*



pixel said:


> Given the chart patterns of recent weeks, with diverging momentum persisting for the last four, nobody can tell me that there haven't been some whispers on private lines suggesting "get out because..."
> 
> Level playing field, my tired foot
> 
> In any case: My $1.50 alert went off and went by without me buying because the second gradient *did not hold as support.* No further explanation needed why I don't set automatic conditional orders, but always reserve manual control.




The release date for the FDA committee report was well flagged (see several posts above) so people exiting and not wanting to hold over this event is fully understandable. I think this is one of those examples where you can approach things with TA or FA and arrive the the same place.

Why don't you short it on the break of $1.50? Or do you not usually trade on the short side?


----------



## pixel (18 September 2014)

*Re: ACR - Acrux*



skc said:


> The release date for the FDA committee report was well flagged (see several posts above) so people exiting and not wanting to hold over this event is fully understandable. I think this is one of those examples where you can approach things with TA or FA and arrive the the same place.
> 
> Why don't you short it on the break of $1.50? Or do you not usually trade on the short side?




Other than the occasional insurance hedge, I do not short. I do take note though of shorting levels where available.

As an indication of who is most likely behind significant price moves, I also use a Broker Report. It's a standard feature of Pulse, the trading platform Open Markets provide:





It's not totally "scientific", but tells me what clients of the "Biggies" have been doing, as compared to onliners.


----------



## skc (18 September 2014)

*Re: ACR - Acrux*



pixel said:


> Other than the occasional insurance hedge, I do not short. I do take note though of shorting levels where available.
> 
> As an indication of who is most likely behind significant price moves, I also use a Broker Report. It's a standard feature of Pulse, the trading platform Open Markets provide:
> 
> It's not totally "scientific", but tells me what clients of the "Biggies" have been doing, as compared to onliners.




Yes I think there's tons of money to be made if one could crack the code in broker reports.


----------



## BarneyChambers (6 December 2016)

Acrux limited are not looking too hot right about now, their share price has crashed over 35%! YIKES

There's an interesting article on it here:

http://au.advfn.com/newsletter/barneyc/637/acrux-limited-crash-over-patent-problems


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## ReXXar (7 December 2016)

I been watching this stock for quite some time..  I first took notice when it was declined to 70cents, it has a strong cash position and generating positive cashflow yet trading around the same level at years ago when it had no products and negative cash flow

Regardless of the litigation, they have crappy product, Eli Lilly is driving the sales by giving rebates to people who buy it, I found this out through checking the testosterone forums, people are not driven by their product due to superior quality but by curiosity and rebate, so their figures on gaining market share is true yet misleading because it is distorted by Eli Lilly

Still, now its trading at 31cents (they're generating more cash than they were when they were trading at $4!!), their EV/MC discount is on the top of my list due to their massive cash and no debt, capital gains tax on ACR is also tax free, I'm ready to pounce on this when the management has some skin in the game, so far their management is completely detached from shareholder interest..



BarneyChambers said:


> Acrux limited are not looking too hot right about now, their share price has crashed over 35%! YIKES
> 
> There's an interesting article on it here:
> 
> http://au.advfn.com/newsletter/barneyc/637/acrux-limited-crash-over-patent-problems


----------



## skc (7 December 2016)

ReXXar said:


> Still, now its trading at 31cents (they're generating more cash than they were when they were trading at $4!!), their EV/MC discount is on the top of my list due to their massive cash and no debt, capital gains tax on ACR is also tax free, I'm ready to pounce on this when the management has some skin in the game, so far their management is completely detached from shareholder interest..




FY14 ACR recorded net operating cashflow of $36m (I think there's some one-off milestone payments)... that's why the share price was ~$4 in early late FY13 (remember market is/was forward looking). But clearly the market incorrectly projected future cashflow at the time and missed some of the key risks. 

FY16 net operating cashflow was $16.5m so I agree on that basis ACR appears cheap, not to mention $30m odd cash on the balance sheet vs a market cap of $52m.

The key questions to ask is:
- What's the risk-adjusted sustainable future of Axiron? Will it be lower after further negative developments? 
- Will investors actually see any of the cash? Is ACR likely to return this cash to shareholder or will it simply pump it into another venture. If they develop anything medical down the line, you can pretty much consider all the cash expensed in R&D.

Lastly, let's say in 3 years, ACR has a 50% chance of worth $0 and 50% chance of worth $1.5 a share (so there's a positive expectancy of 75c). Do you take the chance? How much will you risk? Remember a positive expectancy will only deliver positive outcome with a large enough sample size over the longer term. 

A case can be made for a takeover if you have the capital. Offer 25% premium @ 39c ($65m) cash. You get $30m back straight away. Cut some costs and with 2 years of consistent operating cashflow you've paid yourself back. From year 3 you start to earn a fantastic return on your capital invested... it's worth a punt.


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## ReXXar (8 December 2016)

skc said:


> FY14 ACR recorded net operating cashflow of $36m (I think there's some one-off milestone payments)... that's why the share price was ~$4 in early late FY13 (remember market is/was forward looking). But clearly the market incorrectly projected future cashflow at the time and missed some of the key risks.
> 
> FY16 net operating cashflow was $16.5m so I agree on that basis ACR appears cheap, not to mention $30m odd cash on the balance sheet vs a market cap of $52m.
> 
> ...




Hi SKC, I really like your forward looking view and thinking in terms of probabilities.  Regarding your first question, this is probably impossible to know, not even the management themselves, however there's no reason why it can't plunge further to even more ridiculous levels.  I once followed a stock called Richfield International (RIS), it had a NEGATIVE enterprise value (that's right, you will get PAID for buying this company!!  Not only that, the PE ratio was something like 0.2, so 2 and half months to make your money back), I couldn't believe when I saw it, I looked at the data for the last 10 years and it had a negative EV every single year!  Basically it was accumulating cash year on year and not declaring a dividend, finally got noticed by a PE firm and got bought out a few months ago, causing the share price to spike several hundred per cent.

Which leads to your second question what they will do to the cash, if they don't distribute it and keep accumulating then eventually it will have to become a take over target, and that's the only way shareholders will benefit from the cash if they don't pay a dividend or stock buyback, the key issue is then when, can we afford to wait 10 years like RIS to get noticed??  That's the problem with small caps, bargain situations are scattered everywhere but unless there's some momentum and liquidity starts building it is somewhat risky to just buy and hold waiting for the value to be realised.  I very much like your scenario between 0 and $1.50, I definitely agree it has more upside than downside potential.  Their new products won't come online until 2018/19, if before that time there's a pick up in volume and management buy stocks for themselves it is probably a good signal to jump in?


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## skc (8 December 2016)

ReXXar said:


> Hi SKC, I really like your forward looking view and thinking in terms of probabilities.  Regarding your first question, this is probably impossible to know, not even the management themselves, however there's no reason why it can't plunge further to even more ridiculous levels.  I once followed a stock called Richfield International (RIS), it had a NEGATIVE enterprise value (that's right, you will get PAID for buying this company!!  Not only that, the PE ratio was something like 0.2, so 2 and half months to make your money back), I couldn't believe when I saw it, I looked at the data for the last 10 years and it had a negative EV every single year!  Basically it was accumulating cash year on year and not declaring a dividend, finally got noticed by a PE firm and got bought out a few months ago, causing the share price to spike several hundred per cent.




I have looked at RIS numerous times. It's a Chinese company so there's little guarantee that the stated assets are actually there. I doubt MVT actually got what they thought they bought... given the fact that the major shareholders / insiders were happily sell their holdings to the bidder.

Take a look at SBB... according to the books it's a profitable menswear company with ~6-7c cash per share. Last traded price was 1.6c. No one believes the story and certainly don't expect a takeover anytime soon 



ReXXar said:


> Which leads to your second question what they will do to the cash, if they don't distribute it and keep accumulating then eventually it will have to become a take over target, and that's the only way shareholders will benefit from the cash if they don't pay a dividend or stock buyback, the key issue is then when, can we afford to wait 10 years like RIS to get noticed??  That's the problem with small caps, bargain situations are scattered everywhere but unless there's some momentum and liquidity starts building it is somewhat risky to just buy and hold waiting for the value to be realised.  I very much like your scenario between 0 and $1.50, I definitely agree it has more upside than downside potential.  Their new products won't come online until 2018/19, if before that time there's a pick up in volume and management buy stocks for themselves it is probably a good signal to jump in?




I should clarify that the $0 and $1.50 range and the percentages mentioned were numbers plucked from thin air for illustrating the valuation framework only...


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## ReXXar (8 December 2016)

skc said:


> I have looked at RIS numerous times. It's a Chinese company so there's little guarantee that the stated assets are actually there. I doubt MVT actually got what they thought they bought... given the fact that the major shareholders / insiders were happily sell their holdings to the bidder.
> 
> Take a look at SBB... according to the books it's a profitable menswear company with ~6-7c cash per share. Last traded price was 1.6c. No one believes the story and certainly don't expect a takeover anytime soon
> 
> ...




I wouldn't automatically devalue them being a Chinese company (it is Singaporean), I have met several Chinese businessmen who are very low-key with high integrity.  One thing I never understood was why their account receivable turnover was reducing consistently every year, anyways thanks for SBB, I'm going to have a look now.  With stocks trading like RIS and SBB, it seems we should just raise the money ourselves and buy it outright!!


----------



## ReXXar (8 December 2016)

skc said:


> I have looked at RIS numerous times. It's a Chinese company so there's little guarantee that the stated assets are actually there. I doubt MVT actually got what they thought they bought... given the fact that the major shareholders / insiders were happily sell their holdings to the bidder.
> 
> Take a look at SBB... according to the books it's a profitable menswear company with ~6-7c cash per share. Last traded price was 1.6c. No one believes the story and certainly don't expect a takeover anytime soon
> 
> ...




OK I had a look through SBB and now I understand what you mean by the risk of the assets of these Chinese companies, I think the issue here is to ascertain whether the cash SBB holds are in Australian banks or Chinese banks, I couldn't find this out from their financial statements, but it appears to be in China?  If so I would steer clear away from this stock but if its held in Australia then its definitely worth further investigation.

A lot of these Chinese companies are highly cashed up, its probably with Chinese government's corruption crackdown so they're listing on the ASX and can transfer the money out of China at a moment's notice, so to separate the wheat from the chaff I think we must ascertain where these cash on being held, any thoughts?


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## skc (8 December 2016)

ReXXar said:


> OK I had a look through SBB and now I understand what you mean by the risk of the assets of these Chinese companies, I think the issue here is to ascertain whether the cash SBB holds are in Australian banks or Chinese banks, I couldn't find this out from their financial statements, but it appears to be in China?  If so I would steer clear away from this stock but if its held in Australia then its definitely worth further investigation.
> 
> A lot of these Chinese companies are highly cashed up, its probably with Chinese government's corruption crackdown so they're listing on the ASX and can transfer the money out of China at a moment's notice, so to separate the wheat from the chaff I think we must ascertain where these cash on being held, any thoughts?




You can forget about SBB.  The founder holds a controlling stake so if he sells to you below the net cash backing, you know something is wrong.

The money is in China as the company records currency effects on cash every report.

Looking again at RIS, it looks like MVT didn't pay below cash backing. It paid something like cash backing + 3x earning. Which is probably not that different to acquisition of a privately held business.

I don't believe a Chinese company can transfer money out of China that easily just because they are listed in Australia. If that's the case everyone would be doing it, and not just a handful. Especially since SBB has no operations in Australia aside from some accounting, director and annual listing fees.

Back to ACR... definitely not as bleak as a Chinese fraud, but the range of possible outcome is pretty huge.


----------



## ReXXar (9 December 2016)

skc said:


> You can forget about SBB.  The founder holds a controlling stake so if he sells to you below the net cash backing, you know something is wrong.
> 
> The money is in China as the company records currency effects on cash every report.
> 
> ...




Yes you're right about MVT, I think my calculation was also in that range, I actually emailed MVT on the day they announced the full takeover (was it 34 cents?) to confirm if my calculation was in the ballpark, surprisingly their director came back to me straight away and clarified they will only get access to 90% of the cash, since they're only bidding for 90%.  It appears they've done their due diligence in the prevailing months after they launched on-arket bid at 20 cents, so I'm sure they got what they wanted.

We probably should start a thread and build a list of small caps that's just accumulating cash, good to meet another investor whose looking at this.

Regarding to ACR, its largest shareholder Allan Gray has been selling consistently until now after it tanked, that gotta be painful..  What's interesting is that he sold substantially more AFTER ACR announced dividend suspension causing the share price to plunge even further, so obviously the he and the new management are not even communicating, this is why I say the new management is completely detached from shareholder interest, any thoughts?


----------



## skc (9 December 2016)

ReXXar said:


> We probably should start a thread and build a list of small caps that's just accumulating cash, good to meet another investor whose looking at this.




I think there are a few floating around. Do a search on "cigar butt", "net net" or "Ben Graham" to see what you find.

I am not really into this sort of stuff but plenty of others are.



ReXXar said:


> Regarding to ACR, its largest shareholder Allan Gray has been selling consistently until now after it tanked, that gotta be painful..  What's interesting is that he sold substantially more AFTER ACR announced dividend suspension causing the share price to plunge even further, so obviously the he and the new management are not even communicating, this is why I say the new management is completely detached from shareholder interest, any thoughts?




Isn't it wrong (and probably illegal) if Allan Gray was to know about management's intention for dividend ahead of other shareholders?! 

When fund managers get it wrong in the small caps they usually just dump without much care of whether the price depressed by their action makes any sense. The end of the line signalled by a significant XT can sometimes result in violent short term bounces.


----------



## ReXXar (9 December 2016)

skc said:


> I think there are a few floating around. Do a search on "cigar butt", "net net" or "Ben Graham" to see what you find.
> 
> I am not really into this sort of stuff but plenty of others are.
> 
> ...




Yes it is wrong, however for a small company like ACR one would assume the new management would develop some relationship with its only institutional shareholder left that still holds (15%?) of the company?  Also more often than not it seems major shareholders makes a major move before significant announcement, yes it is insider trading, but hell everyone does it.  Look at the companies with major announcements and the management buying/selling a few weeks just before, they're usually never wrong, I've lost count how many times management starts buying just before major dividend announcement.  Ross Dobinson who founded Acrux sold most of his shareholding at the peak, looking back that was the only advance signal that something ominous was coming.  I found his previous statement saying he did not believe US ruling on the labeling would have a material effect on Acrux operations, what a load of BS..


----------



## Rainman (24 November 2017)

ACR is currently trading at 30% discount to net cash.


----------



## greggles (2 August 2018)

Acrux Limited has announced that it has submitted an Abbreviated New Drug Application (ANDA) to the FDA for a generic version of Jublia® and this has been accepted for review. The FDA has confirmed that Acrux's submission date for its ANDA corresponds to the first date on which an ANDA with a Paragraph IV Certification could be submitted, making Acrux eligible for 180 days of generic market exclusivity on final  approval.

Jublia® is an antifungal drug indicated for the topical treatment of infections of the nail and US sales exceed $280 million per year.

The ACR share price is up 12.90% to 17.5c on the news, extending its rebound from a low of 14c in late June.


----------



## tasmanian (2 September 2018)

My tip for this weeks monthly comp. ACR could just keep consolidating around these levels or could be the start of a new uptrend. Worth keeping an eye on.


----------



## tasmanian (18 September 2018)

Looks like we got the breakout!


----------



## peter2 (6 September 2020)

Two years since the last post . . . 

That break-out didn't go very far and prices drifted lower. The weekly chart shows that this "pump and dump" price action happens regularly. 

The daily traded volume is too low and I shouldn't post companies like ACR but I have included it in my small cap micro cap portfolio. The weekly chart has been trending higher quite nicely and I hope it continues or suddenly spikes higher. I won't mind. 

One aspect of interest is that ACR is classified as a PDF (pooled development fund)



	

		
			
		

		
	
   Must remember this when I cash out with outrageous profits.


----------



## greggles (12 January 2021)

Lift off today for ACR after it announced that the US Food and Drug Administration (FDA) has approved its generic product based on Perrigo's Testosterone Topical Solution, 30mg/1.5mL.

In October 2020 the Company announced that it has entered into an exclusive sales, marketing and distribution agreement with Dash Pharmaceuticals and that Dash will be responsible for the commercialisation of the product in the United States, including the coordination of commercial manufacturing and management of marketing and distribution.

The ACR share price spiked 54.5% to 25.5c this morning after the announcment, reaching an intraday high of 32c but subsequently easing back as sellers took control.


----------

