Viralytics Ltd.(ASX: VLA)
Viralytics is a company intent on developing novel cancer treatments. On Monday the company updated the market on the use of its CAVATAK product in the treatment of both melanoma and non-muscle invasive bladder cancer. CAVATAK is a novel cancer immunotherapy based on a proprietary cold virus that has been shown to preferentially infect and attack cancer cells. It has been designed to enhance the body’s own defences in fighting cancer.
Both trials have produced positive results and it comes as little surprise to see its share price rally by over 12% since the announcement. According to a research note out of Roth Capital, its analysts estimate that CAVATAK’s use in melanoma treatment could deliver sales of US$600 million a year eventually. It is still early days and there are a number of trials and regulatory approvals needed before it hits the market, so investors may be best adding Viralytics to their watch list for the time being.
If you need to make room in your portfolio for either of these shares then I would highly recommend removing these rotten ASX shares from it before they potentially destroy your wealth.
