Folks who follow this one will be aware that the phase 1 safety trial is due for completion shortly. It's difficult to make meaningful contact with the company and the CEO Michelle Miller seems rather reticent to return calls however, for what it's worth, a secretary informed me that they were expecting results around the middle of July.
Followers of this stock will be familiar with its trading patterns. Typically, it lies dormant for long periods of time and then spikes with the excitement of an announcement only to retrace fairly quickly. Currently, the share price has been declining since Feb following the announcement of the clinical trial and is hovering around a reasonable support level which extends down to around $0.23.
This trial is crucial for BIT as it is a bit of a one trick pony having effectively curtailed most of its research projects in order to concentrate on its viral channel blockers. If this class of drugs can be shown to have minimal side effects then I would expect their clinical potential in the areas of HIV and Hep C etc to be massively enhanced. I have previously expressed my fear that channel blocking drugs have the potential to have wide ranging effects and that this may limit their clinical value. In this event, a poor safety result in the current trial may very well mean the effective end of the company.
Bottom line to all of this is that the forthcoming result will either bring a significant positive rerating of the company or it may bring about its demise....
Comments welcome.
BIT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
