The company said they want to get into asthma and they are doing so. As they've said in the presentation they're now a diversified biotech company.
Capital raise:
The capital raise was done at the last traded price, actually at a premium to any average price over the last few months. Price had been drifting between 0.007 and 0.009 for months. As this capital raise is within the already approved limits (15% plus additional 10% approved at the AGM), there's no need for shareholder approval, so management could've easily issued shares at a discount to market, but chose not too. Or could've issued them when the price was at 0.007. IMO a good result.
1c is surely now the new base.
Oraline:
They are still keen on getting Oraline going and it would appear this is close to product launch. Judging on cash expenditure over the last year it seems that it's going to be low-cost to progress this at least to the point of launch. Oraline 4 will compete with existing products whereas Oraline 6 (assuming effective) will be at the top end of the scale, as per similar drug tests here:
Asthma:
I think this is obviously going to become a bigger focus moving forward and they are slowly transitioning into this space with today's announcement. Both announcements indicated that they are continuing to look for further acquisitions in this space. Perhaps some more research studies also?
Taken from the presentation today there's plenty of announcements due, with the last one being the key for me.
⊙ Oraline®4 strip fine tuning to be completed ⊙ Oraline®4 product validation with NATA certified laboratory ⊙ Oraline®4 product launch ⊙ Oraline®6 prototype development and first tests to be completed ⊙ Oraline®6 product validation with NATA certified laboratory ⊙ Oraline®6 product launch ⊙ Distribution agreements and licensing to third parties for Oraline® product family ⊙ Proof-of-concept study results to identify new genes and immune response mechanisms to house dust mites in asthmatic subjects ⊙ Acquisition of new technologies in the respiratory therapeutic category
also:
"Sun Biomedical will continue to explore acquisitions and licensing opportunities in this area of research."
SBN Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
