I've been researching but can't find definitively what event happened to cause the share price to drop from $6 to $2 on JAN 26, 2013. Calendar items show a dividend or it may have been dilution for the acquisition. I would appreciate guidance from someone who witnessed the period.
About 5 years ago I followed NVGN. It is an ADR equal to 25 shares of Australian NRT.AU. Dr. Kelly was the CEO and a great communicator.To benefit from an American exposure, he created Marshall Edward in San Diego (MSHL and warrants) and gave them the rights to phenoxidiol and its derividives. NVGN held about 80% an d offered MSHL shares and warrants to investors. Phenoxidiol "failed" its phase III study , and both NVGN and MSHL took BIG HITs.......as did most stock markets in 2008 ! Both stocks had reverse splits (account for over $200 prices over 5 years ago, NVGN never over $30/sh)
Dr. Kelly had health and family problems! Ex wife reported him to Australian Tax Authority, so he had legal problems and left the company. Didn't help the stock price......... suprise !
Dr. Kelly along with his chief chemist started a new company, and Novogen sold off it other core business. Time passes, then Novogen announced they would distribute their MSHL shares to NVGN (NRT) holders! What ! Why!? Especially when MSHL was going up and therefore NVGN went up. Without MSHL how could NVGN justify their stock price?
The MSHL distribution took a long,long time. NVGN reported their merger with a company started by Dr.Kelly.
Still no distribution of MSHL stock (symbol now MEIP) , so I wrote Dr. Kelly , see web site communications.
Eventually, the stock was distributed, MEIP took off based on phase II study, but NVGN had not completed the distribution and rose with. After the completion NVGN dropped to a reasonable $2 / share. Then Dr. Kelly made his announcement . That's the shorten version of its history. It makes more sense at last!
I would check past messages at both sites by Shere Kahn for informed discussion of the drugs. I expect MEIP to have significant moves this year, and over the next 3 years, and I expect NVGN to have great potential for the future. If Dr. Kelly's and my health hold up I expect NVGN to have a significant impact in the future.