Wow. That is quite the breakout in AVH today. The rise is getting sold into (as expected, given overhead resistance), but this is playing out even better than I anticipated.

A quick technical update from my straw 2 months ago -

We've had the two FDA announcements and an expected ramp up of the cost base to expand the market over the next couple of quarters as flagged by management, in this time.

The price in the lead up had a surprisingly sharp drawdown but found support in an expected zone near $3.25-3.30. The rebound has also been quick, and the shares seem to be building momentum to make new 52w highs in the coming weeks.

So yes, price-action idiosyncrasies aside, it is playing out as expected. I expect a test of resistance closer to $6, though I flagged that in the last upswing, and the rally stalled just after $5. Hopefully it's different this time!

This is another biotech name that has surged off its lows of just a few months ago, catalysed by a change in management primarily. With two pending FDA approvals expected soon that expands its TAM for burns treatment, the price has carved out a new 52w high today.

It is getting close to a zone of resistance now, but the momentum and price action it has demonstrated thus far has been very healthy, and the upcoming catalysts could well see it breach the wall of resistance it will be running into soon.

One to watch.

Disc. : Small position held IRL.

About time Dr. Perry was shown the door given the woeful underperformance of the business for multiple years from a shareholder return perspective and unjustifiable board and management compensation, though the timing is abrupt.