Well, I'm only half way through my list of ASX biotech stocks, but I am yet to find one other biotech company that is trading below cash backing (yet alone well below cash backing) and there are so many companies on that list that I would consider 'junk' stock or 'scam' stocks.
So far I have looked at approximately 35 companies. I'll continue my search and let you know whether I find another one.
In the meantime, I'm calling this a screaming buy for new investors. The old ones are probably well and truly over it.
Keep in mind too that BLT are still owed around $5m in R&D tax refund due shortly and their cash burn will be around half what it has been in the last year due to ceasation of the TT-034 trial.
I find it incredible that this is trading where it is when BLT have 3 near term clinical programs.
BLT Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
