Medigene AG shares hit a historic low of €0.024, erasing nearly all market value amid ongoing bankruptcy proceedings and a lack of communication on asset sales.
The stock of German biotech firm Medigene AG experienced a dramatic single-day collapse, shedding nearly a quarter of its value. This plunge, which saw shares trading for mere cents, underscores a profound erosion of investor confidence in the company’s ongoing insolvency proceedings.
On Thursday, the share price on the Tradegate exchange plummeted to a historic low of €0.024. This leaves the market capitalization of the once-promising biotechnology company at approximately €469,000. The valuation stands in stark contrast to the hundreds of millions of…