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By Rudi Filapek-Vandyck
Shares of local biotech Metabolic (MBP) are expected to land into a freefall as the company has reported its obesity trial results do not support the commercial viability of its key project.
Healthcare analysts at ABN Amro Morgans are quick in pointing out to their clientele it is probably wise to leave the company’s register… NOW!
As Metabolic’s other projects such as pain, osteoporosis and oral delivery are at an early stage, the disappointing trial result is unlikely to receive a soft approach by investors.
ABN Amro Morgans has downgraded the stock to Sell, from Buy, and expects the share price to fall below $0.30.
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