Acrux: The bear case

Acrux is the second most shorted stock on the ASX but, as Graham Witcomb explains, the bear case doesn't stack up.

Just a month after we upgraded Acrux, the Financial Review has published the case for selling. That’s despite the most recent research finding testosterone replacement therapy (TRT) is safer than earlier studies suggested.

Acrux’s share price has more than halved since the unfavourable studies triggered an investigation by the US Food and Drug Administration (FDA) in February, with a decision expected early next year.

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