After a story was printed in todays advertiser this is an email my broker sent me to clarify what's happening at BNO and some milestones we can expect to make in the near future!
Dear xxxxxx
Comments in this mornings paper follow on from the companies AGM yesterday. The company is coming into a very active period of results/share price catalysts in the coming 3-4 months which could see the share price substantially rerated depending on results/outcomes;
NB - the company has reiterated that negotiations are at an advanced stage on both of these early stage drug candidates and also commented on the fact that the strong financial position that they are in has put them in a position to negotiate better outcomes for these candidates.
BNC 105 - Renal Cancer trial is "Unblinded " 27 December - expect full results to be reported from this trial by end of January, the company has also commented that they will have results from the Ovarian Phase 1 trial (12 patients) to report around the same time. Positive results would be expected to lead on to a large licencing transaction with this drug candidate
BNC 210 (Anxiety/Depression Compound) - licenced to Ironwood there is some expectation of feedback from Ironwood as to further progress of the drug development from this candidate which is Phase 1 Clinical trials in the US at Ironwoods Investor Day in December. BNO also expect to receive their first milestone payment from Ironwood within the next few months.
BNC101 (Cancer Stem Cell Candidate) - It is now apparent that BNO's acquisition of Eclipse last September was very well timed. BNO states that it has the leading Cancer Stem Cell program in development in the world. They have received very positive feedback from the FDA from their pre IND submission and we would expect a final IND submission to be made in early to mid 2014 with first human clinical trials to start shortly thereafter. This drug candidate has the potential to be part of a very large licencing transaction in 2-3 years time once they have shown early proof of efficacy in human trials.
Give me a call if you would like to discuss.
Kind Regards xxxx xxxxxx
BNO Price at posting:
77.0¢ Sentiment: None Disclosure: Held
