In my opinion the ASX is far too strict in its listing requirements around biotechs and these are responsible for some of the problems we see in the industry. To be listed on the ASX you need to be at “clinical stage” (basically treating patients). This has the unfortunate side effect of “encouraging” biotechs to push whatever they have into the clinic rather than take their time to get it right in the lab first.
What we really lack in Australia is a way to move a great idea from university labs to viable clinical trials. You really need around $20 to $30m to do this and there really is no source of funding to accomplish this. We as a country spend billions on early and late stage science and almost nothing in the critical middle.
BIT Price at posting:
0.4¢ Sentiment: Sell Disclosure: Not Held
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