Pharmamar today rose by 1.50%, although it has risen more than 5%, after linking four sessions downwards coinciding with the announcement that Zepzelca , lurbinectidine, did not achieve the necessary objective of efficacy against small cell lung cancer.
The Galician company sank 13.73% last Thursday, the day it communicated to the market the negative result of the Atlantis study. Pharmamar, which had already lost 3.95% the day before, on Wednesday, entered a negative spiral with falls of 5.2%, on Friday, and 8.69%, this Monday.
In December their titles accumulated a 25% drop. Nonetheless. So far this year, their titles accumulate a revaluation of 66%.
This behavior by Pharmamar is reminiscent of its former parent company Zeltia , which was listed on the IBEX 35 for twenty years, and which turned its listing into a real roller coaster, with dizzying movements in the heat of the results that its star drug, Yondelis , obtained the congresses he attended.
In the end the stock was embraced by permanent volatility. This dynamic becomes very dangerous for investors who seemed to have found a certain stability in Pharmamar’s price after its entry on the IBEX 35.
The bears get lined
Those that can be satisfied with what is happening are firms such as Great Point and Point72 Asset Management, which have raised, with considerable success, their bearish positions in the value.
The consequences of the failed phase III Atlantis trial are also clearly reflected in the recommendations of the analysis houses released on the value. 90% of the analysts who follow Pharmamar have cut their target prices for the next twelve months with reductions that range between 16 and 21%.