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Prestige Management Doubles Down On Share Purchase After Setbacks

Recent Fall In Stock Price ‘Doesn’t Reflect Potential Value’ Insists CEO

 
• By Dave Wallace

Still reeling from the EMA’s recent rejection of its biosimilar trastuzumab candidate, Prestige BioPharma’s management have bought up more shares in the company, insisting that the “recent fall in stock price doesn’t reflect the potential value” of the firm.

Businessman standing on rock in sea with umbrella, protecting business during turbulent times, financial background
Prestige management is taking action to protect the business in turbulent times • Source: Shutterstock

Just weeks after announcing the purchase of around KRW2bn ($1.58m) in Prestige Biopharma shares, the company’s management has gone ahead with a further purchase of additional shares in Prestige Biopharma and CDMO sister company Prestige Biologics that are again worth around KRW2bn.

The move forms part of efforts to stabilize the company following turbulence stemming from the European Medicines Agency’s rejection of...

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