Biotech: Bird flu bonanza As governments around the world spend millions of dollars preparing for the outbreak of a flu pandemic, investors are cashing in.
By Beth Quinlivan BRW. 17 November 2005
Shares in struggling Perth bio-technology company Rockeby biomed quadrupled recently after it announced it had secured marketing rights to two new tests for avian influenza. Previously trading at 1.2¢ a share, the price increased to 4.8¢ following the statement on November 8.
Aside from providing managing director Sze Wee Tan with a handy profit - he acquired an additional 26 million shares at 1¢ in October through the company's rights issue - the market response is a sign of the times.
The spectre of a deadly worldwide influenza pandemic has dramatically changed the outlook for companies, research groups and investors in the influenza detection and prevention business. With more interest and more money, the number of new research projects is ballooning. Hardly surprising is that the more experienced scientists are highly sceptical about the quality of some of the emerging anti-bird-flu initiatives.
RBY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
