Prima Biomed (PRR) is a company that specialises in cancer treatment technologies and it's flagship product is CVac, which is used in the treatment of ovarian cancer. It has always been a company that I have avoided. Early last year it traded under a cent and for me it was a bit of a 'pump and dump' penny dreadful. Anyway, the company did come to life and surged as high as $0.29 in October last year before slowly trickling down to yesterday's closing price of $0.125.
One thing that has got me interested in the company is the fact that it is seeking a listing on the NASDAQ. This is very good news. The ASX has only a small space for Biotech stocks and it is a sector that hasn't had any love for a long time. The US market on the other hand has a much larger interest in Biotechs and values these type of companies much higher than Australia. I expect that the company stock price will appreciate in the lead up to being listed on the NASDAQ because of this and it appears to have already started to occur in the last few trading sessions. The rise in share price has also been slow and steady and not like the old 'pump and dump' days. For evidence of this phenomenon I recommend that readers take a look at Unilife Corporation (UNS) and it's movements prior to becoming listed in the US.
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