Clinuvel's market cap has claimbed to a high of $1.4 bln from $490 mln a year ago.
Clinuvel's key drug activates the production of melanin - the skin's natural defence against ultra-violet light - to protect patients against sun-related diseases.
Toppled German financier Florian Homm was once a major Clinuvel shareholder, and still speaks highly of the biotech.
Clinuvel is waiting to hear from the US FDA on July 8 for the approval of its marketing authorisation for its key drug.
It is not often a chief executive of a listed company dismisses an analyst who suggests bullishly that the value of the company he leads is set to triple.
It's also unusual for a small Australian drug company to attract a raft of major investors – from superannuation funds to asset management giant Fidelity and even Napster founder Sean Parker – before it has even entered the crucial US market.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
