The Clinuvel Pharmaceuticals Limited (ASX: CUV) and Harvey Norman Holdings Limited (ASX: HVN) share prices are down, here’s why.
Harvey Norman
Harvey Norman Holdings is a major retailer that both operates company-run stores and also franchises Harvey Norman stores. There are Harvey Normans in Australia, New Zealand, Slovenia, Croatia, Ireland, Northern Ireland, Singapore and Malaysia. Gerry Harvey and Ian Norman opened the first store over 50 years ago in 1961.
The Harvey Norman share price is down over 6% according to the ASX. Harven Norman has gone ex-dividend, so new investors today are no longer entitled to the 21 cents per share dividend.
Most of the share price fall can be attributed to the dividend. But it has fallen further than that, which can probably be attributed to the fact that the ASX share market is looking a bit rocky due to continuing trade concerns because of the dispute between the US and China.
Clinuvel Pharmaceuticals
The Clinuvel Pharmaceuticals share price is down around 16.6% after yesterday’s huge rise.
I wouldn’t be surprised if a lot of the decline is due to some investors taking money off the table.
Clinuvel Pharmaceuticals shares are still up 33.9% since Tuesday after the healthcare business announced that the US Food & Drug Administration (FDA) has granted marketing approval to use SCENESSE for the treatment of EPP patients in the United States.
SCENESSE is the first global systemic photoprotective drug for the treatment of patients with EPP.
Yesterday, Clinuvel’s CEO Dr Philippe Wolgen said: “This event is transformational in that we are now accelerating our exchange with the FDA and European Medicines Agency to expand the use of SCENESSE in additional indications, as the passing of time has unveiled that our breakthrough technology deserves wider application in modern medicine.
“I am confident that our teams will understand going forward that art and skills will be required to execute against due dates while containing the costs.”
I’m unsure if Clinuvel Pharmaceuticals and Harvey Norman are opportunities at these share prices, but I reckon the ones below could be exciting prospects.
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