By Elric Langton | 14 September 2022
Updated 15 September 2022
I have a financial interest in hVivo Plc and Poolbeg Pharma Plc.
I added to both today because I try not to look a gift horse in the mouth. The shares in hVIVO Plc (AIM: HVO - formerly Open Orphan Plc) have fallen through the support level of 10p to close 1p lower at 9p. This is due to panic selling by some retail investors brought about by an article today, The Currency, in which the article’s headline has had retail investors rushing to sell their shares. The headline states; Man arrested in insider trading probe was trading shares of Dublin pharma company Open Orphan.
The man, not a well-known figure in Irish business, was not working for the pharma services company. Open Orphan (hVivo) is “helping the relevant Irish authorities in respect of this allegation.”
It turns out this investigation dates back to 2020. Moreover, it has no real connection to the board, and therefore, should be no lobby heads off the board members. Sa…