Wow. I was looking back on my last posts about BIT, it's been > 3 years. I questioned then what was the point of this company, said then how it looked little more than an academic's hobby and asked who was propping up this outfit. I said in a post from March 2021 I'd return in March 2024 to see what they're doing, well here I am, sorry bit late.
>>>Hmm, not much has changed, SP is at 40% of what it was back then but good to see one staff member being kept employed.
>>> They are still "synthesising and designing" stuff which is pretty much what they said 3 years ago I recall. A 10th century druid could come up with something quicker and more effective.
>>>They do seem to have advanced a couple of tiny HIV phase 2 trial, basically at snails pace, is that about the extent of it since 2021? Now off looking into zika and dengue? Why???? How about Monkey pox. Maybe the greyscale from Game of Thrones might be a better disease target.
>>>Really nothing has changed, has it? The SH letter from last month read like little more than a "please stick with us, we're really really trying, it's all quite hard you know, oh yeah I'd still like to be CEO". Shocking indictment of the Aus biotech sector. No CEO should last 20+ years in position. It's looks suspiciously like a sinecure. If their science and technology really are genuine & credible, why not overhaul board and CEO, bring in fresh minds who really have the competence and ambition to push this forward? The clinical development lacks urgency, there's no strategy from what I see apart from going after any virus that takes their fancy, and no evidence of commercial competence. Many of their peers in the sector at least regularly post to social media like LinkedIn to show what they're doing, elevating their profile, getting out there. This outfit has no LI page, no postings, no profile. Seriously what do they do day to day?
All IMO.
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