A few hours ago, Orthocell received an ASX Price Query in reaction to an almost 20% bump in share price today, despite no new information to the market since May when an R&D tax credit was announced (yawn). I think it was summed up with almost nonchalant indifference by a punter on HotCopper:
Does anyone have any explanation of today’s trading? Biggish volume for this share. News coming?
News coming??? Insider trading maybe?
Well, I guess we wont know until Orthocell makes some big announcement and maybe a desk jockey at the ASX tweaks to it. Even then, it’s pretty unlikely that someone will make the connection.
What really pisses me off is when a company uses a price query as an opportunity to get out a sneaky press release. To be clear, an unsubstantiated 20% hike in a stock price is not really an appropriate trigger to then go out and expound the virtues of your company. In response to an ASX query, the ideal answer should be as follows:
Instead of a simple answer for Question #3, in the case of Orthocell, we get a mini corporate presentation that has the timbre of something between a high density advertisement for the company’s stock, and a ball-slap to all the stupid investors that obviously didn’t understand that the stock was hot before this point in time.
Now in moments like this, I check myself by making sure I am not over-reacting. My standard mechanism is to put the announcement through my Cockney dialectizer. If it reads like it was spoken by an East London hustler who is ‘avin a go at me and is, in all likelihood, going to print out 20 copies of the ASX disclosure, roll it up into a tight tube and stick it somewhere that the sun don’t shine … then I know my instincts are correct.
Here goes (with a Michael Cain Italian Job accent, please):
Since listin’ in August 2014 the bloody Company ‘as continued ter effectively execute its strategy of developin’ and commercialisin’ its regenerative medicine products includin’ Orffocell’s:
1. Leadin’ tendon fixin’ product, Orffo-ATI
2. Colla-gin scaffold product for the repair of bung knees, right, Celgro; and
3. The next-gen bit o’ cartilage bees ‘n honey, Orffo-ACI
As announced recently the bloomin’ Company ‘as ‘ad recent results in respect of its Orffo-ATI tendon fixin’ product published in the bloomin’ septic tank Journal of Sports medicine and also nattered ’bout long term efficacy and safety info for Orffo-ATI recently at the Lundin Regenerative Medicine Congress.
The Company ‘as also announced the approval ter commence an ‘uman study in dental application for its Celgro colla-gin scaffold for fixin’ soft tissue defects and is workin’ towards the bleedin’ commencement of uvver gigs later in 2015. As part of its hussle the Company is in chats wiv a number of keen knees-ups and the Company will update the bleedin’ market at an appropriate time if any of these chit chats results in a bindin’ handshake bein’ done.
So get that up your Kyber Pass.