Well well....it took some time but the truth is coming out now. Benitec cancelled the program because Axovant was making slow progress and dragging its feet on the OPMD program having taken on too many new indications. The improvements to delivery would have been completed in time if Axovant had been moving more quickly on the program. Benitec ends up with the 10 million US and the fully paid improvements in the program made over last 12 months.
Here it is from the horse mouth:
"Benetic Biopharma (ASX: BLT)At first glance, Benetic’s quarterly may not seem flash, with a net loss of $2.6 million in operating activities. But it has undergone a workforce reduction, has $22 million in cash and net cash from operating activities at nearly $5.9 million.The company’s drug, BB-301 aims to treat oculopharyngeal muscular dystrophy and CEO Jerel Banks said the team would continue to work diligently on progressing it.The drug remains at a pre-clinical stage and the company, keen to progress it, terminated a collaboration agreement it thought was going too slow. It is still looking for another partner. The stock climbed 8 per cent this morning but is still down 49 per cent this year."
https://**promotion blocked**/health/quarterlies-the-five-4c-filings-investors-liked-most-in-health-today/
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