The problem is DELIVERY. There have been several attempts to get ddRNAi to work, not just Benitec, and they have all come up short. Alnylam realised delivery was a problem for siRNA, worked out (With others) how to fix it for liver indications, and concentrated their efforts accordingly.
Benitec made a conscious decision to leave the problem of delivery to others, vector manufactures. While sound at the time, this decision has left the company vulnerable. A significant component of its drug was determined by technology over which it had/has little control.
This remains the problem. If we could fix it, we would have a valuation many times greater than that which we have now.
One good thing about the current team is that they are trying to fix delivery for OPMD rather simply moving on. I support that tactic. If they get it right, Lawrence can fly us all to Melbourne to celebrate.
BLT Price at posting:
5.2¢ Sentiment: None Disclosure: Held
