BIT 0.00% 1.9¢ biotron limited

Ann: Response to ASX Aware Query, page-61

  1. 2,003 Posts.
    lightbulb Created with Sketch. 286
    More new information coming to light, which isn't good. So we now know that the company's reps went to Thailand at the end of September 2023 and discovered issues with the trial, and it wasn't deemed to be worthy of an update...

    2 big issues here.

    1- share price (massive upward spike end of September 2023)
    2- The visit to Thailand within close proximity to mishttps://hotcopper.com.au/data/attachments/6486/6486985-a6326d5075ebccd9b907580a339f3d5c.jpg
    https://hotcopper.com.au/data/attachments/6486/6486988-7c987ddf5214e645b0af3c324f1a54d4.jpg
    leading updates

    At the end of September to early October 2023, the share price went up 300%.

    At the same they were saying "HEADLINE data" due in "coming weeks" (last week of September)and then in mid October, we get the results are in the final throes of analysis... results due imminently".

    I suspect that this won't be the end of it from a regulatory perspective. This will go to asic and a more thorough investigation will take place.

    If you are dismissing asx's letter as "BS" (as one poster said yesterday), then please ensue you think carefully, put on a risk management hat on, think critically.

    a serious enough breach of the disclosure rules leads to a company being temporarily suspended and / or removal from the asx listing.

    I'm not saying it's at that level here, but you never know. The other big issues is whether there are any other "typographical errros" in other updates relating to HIV and other trials. Other updates could be contaminated.

    I wonder what reputational damage these admissions of typographical errors and having the regulators pull them apart? How will the science peers react to this? Also would a commercial partner complete a take over, and inherit the class action risk?

    unfortunately; I think the company is in the final throes...
 
watchlist Created with Sketch. Add BIT (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.