Down 10% today on moderate volume, $1.20 drop in a day would be...

Down 10% today on moderate volume, $1.20 drop in a day would be the biggest drop in ? forever. There is probably no reason for it however Clinuvel haven’t really been kicking goals of late.

Nice rejection, NDA delay, skin care line launch delay, ineffectual director appointment, vitiligo results delayed, no meaningful growth in revenue reported last 2 quarters, no increase in EU rollout and the 2 largest shareholders selling down. The timelines for some of these events was given to us in December at the AGM or later with the launch of the skin care line launch. It really isn’t good enough but it is the same old Clinuvel. Over promise and under deliver. The only good news was Wolgren’s $800,000 signing bonus for his contract renewal didn’t put Clinuvel into negative cash flow last quarter.

The positive this year was the European Annual and Periodic Reports. Excellent safety and efficacy.

Clinuvel shareholders are a patient lot and we will need to carry on being patient for a bit longer yet. Today (and possibly the rest of the month) is just another bump in the road.