Biotron Share Price Up, Letter to Shareholders Includes Useful Information
Early this morning, the share price of Biotron Limited [ASX:BIT] managed to spike up 7.69%, trading at 14 cents per share. At time of writing, shares are currently close to yesterday’s market closing price at 13.5 cents each.
The stock has been trading sideways since 29 November:
In a letter to the shareholders, the company disclosed a couple of useful pieces of information.
Presentation of data
The letter to shareholders summarised the progress the company has made over the course of the year.
This includes the successful phase 2 trial, which showed that the company’s BIT225 drug attacks HIV-1 in macrophage cells.
Perhaps most notable in the letter to shareholders was news the company has presented data from the Phase 2 trial to the scientific community.
This took place at the HIV DART and Emerging Viruses 2018 conference in Miami, Florida. Biotron’s head of Research and Development, Dr Carolyn Luscombe, was presented with the 2018 HIV DART Poster Award.
Commercialisation meetings over several months, shift to Hepatitis B virus
This is important for the company’s long-term future as the path to commercialisation begins with sharing the results of trials with fellow scientists.
The company also provided a timeline for future meetings with potential partners, saying that there would be ‘multiple meetings, spread several months’.
Finally, the company flagged that it would be evaluating the activity of other Biotron compounds against the Hepatitis B virus, marking a significant step towards diversification of its drug portfolio.
So, while it remains a speculative play, this news taken as a whole could be interpreted to mean that investors will have to wait months before significant news moves its share price.
For Money Morning
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