Huntley's update on SBP..... Progress has been frustratingly slow on the group's lead cancer drug SBP 002. Through special access patients and lab work, the company has demonstrated that SBP 002 is effective against a range of cancers. The latest development appears to be quite exciting. In recent testing at the University of Western Australia, it appears that in addition to destroying tumors, the drug may activate the immune system to destroy both the primary tumor and any micro metastases (or secondary tumors), even when the drug is no longer in the system. It is too early to tell whether the drug actually does switch on the immune system to attack cancers, with the group now discussing with researchers the best way to prove the observations. Funding will then be sought for that specific project once the way forward is determined. We have been disappointed that there has been no obvious progress on the Mesothelioma front, but we understand the discussions are underway with a number of hospitals regarding trials. It is not imperative that the group starts its testing with Mesothelioma, where a University of WA study showed a high level of activity against the five human Mesothelioma cell lines tested. Any solid tumor may be investigated as SBP initially will undertake purely safety trials. That process should start in the current half. The animal work is now essentially over and everything is in place for the full testing phase to proceed. The company had $1.3m in cash left at the end of December and should have generated a further $800,000 plus from the sale of the position in Jetset Travel World. The quarterly cash burn for December was around $336,000, suggesting cash will be tight if the June options are not exercised at 20 cents as seems likely. Clearly SBP remains a spec, but the early stage research is throwing up intriguing results which indicate an unusual method of action against a whole range of cancer types. Given the relatively low market capitalisation, this is one to lock away for patient speculative capital.
(Voluntary Disclosure:Position Short Term rating:Buy Long Term Rating:Buy)
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SBP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
