Last week, the small end of town was where all the action was in biotech-land with Biotron (ASX:BIT) up 97%, newcomer Innate Therapeutics (ASX:IIL) up 33% and...
Last week, the small end of town was where all the action was in biotech-land with Biotron (ASX:BIT) up 97%, newcomer Innate Therapeutics (ASX:IIL) up 33% and Anteo Diagnostics (ASX:ADO) up 27%. BIT sky-rocketed after announcing interim data from a Phase-2 trial showing its drug eliminated the hepatitis-C virus in patients infected with both hepatitis-C and HIV. BIT's price touched $0.31, a 300% gain on the previous day, and closed the week at $0.17. The price gains in ADO and IIL occurred despite the company's not making any announcements. Elsewhere, Alchemia (ASX:ACL) brought in some very early stage cancer drugs while the market awaits data from its Phase-3 trial and Phosphogenics (ASX:POH) set the refresh button on its Board with only one of the original directors remaining. Calzada (ASX:CZD) got FDA clearance for its wound dressing. The Canaccord Biotech Index closed flat and $113M of shares changed hands.
PhD Human Genetics, MBA, BSc Hons (1st Class). Sell side analyst specialising in life science companies since 2006. Previous background in biotech companies, medical research, consulting with BCG and scientific journalism with Nature
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