bta starting above 80c today?
My lucky charm - Biota - last had good news on the Asian Bird flu when CSIRO began an assesment of Relenza's usefuleness in treating the illness. The confirming (or denying) final report has not yet been published but the mere announcement of CSIRO interest pumped the price from 48cents to a peak of $1.27 falling back to around 70cents. Last night's ACA on Ch 9 should do something similar, although tabloid television claims of "cure for the common cold" are not exactly new.
My personal view is that Biota has long legs and is worth as much as any other small successful biotech. It's both a long termer and a short termer depending on the price you pay. I'd be surprised if it doesn't settle above $1 and possibly $1.50 - $2.00 by the end of this financial year.
I own shares in Biota and other biotechs.
BTA Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
