Huge Gains for Biotron Share Price following Positive HIV Drug Trial Result
In just the past three trading days Biotron Limited [ASX:BIT] has rocketed up.
As at time of writing, it’s trading at $.093, a 489% increase from three trading days ago where it closed at $.019.
Biotron is a biotechnology research company working on a range of antiretroviral drugs.
Antiretroviral drugs fight viruses, and Biotron has recently had a positive drug trial result for its HIV medication.
Biotron working on other drugs as well
According to the company, the HIV drug is not the only one it’s working on:
‘The company is developing and commercialising a novel small molecule approach that has the potential to treat a number of serious viral diseases. The technology targets viroporin proteins, which are key to enabling the pathogenicity of a number of viruses including hepatitis C, HIV-1, Dengue, Zika, Influenza and Respiratory Syncytial Virus (RSV).’
The HIV drug it’s developing is called BIT225, which based on the Phase 2 clinical trial is demonstrating, ‘significant immunological benefits’.
The drug does this by rooting out the virus from cellular ‘reservoirs’.
In other words, the virus builds up in cells and current drugs are unable to remove this build up.
BIT225 is being hailed as ‘…a major step to the ultimate goal of curing HIV-1 infection.’
Biotron Director: ‘No one has done this before’
The company’s Managing Director, Dr Michelle Miller, says that:
‘No one has done this before, and there were no guidelines to follow. We have had to use a range of techniques to show that BIT225 has done what we expected it to do.’
This can only be big news for Biotron, with the share currently experiencing a 259% one year return.
Small-cap/micro-cap biotech stocks are notoriously difficult to gauge as so much rides on the outcomes of clinical trials.
We will be watching Biotron as it presents its findings to the scientific community over the coming months.
For Money Morning
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