I think many on this forum are suffering from 'third party syndrome' - it's not the fault of our company that we're going nowhere, it's just that those stupid Pharma companies don't realise our value. This is usually a condition suffered by those who don't understand the industry they are investing in, and/or are too wedded to the company to smell the coffee, so to speak. As I have noted previously, unless this company has a deal in progress, which I strongly doubt, then they are not going to gain any Pharma support for BIT225 in HCV. These latest results were not good enough. The summer haymaking in HCV has now passed. In hindsight, Gilead's move to licence generic production in India was a bit of a masterstroke as by cutting the amount that anyone could ever hope to make in HCV in the third world, they reduce the competition in the first world by reducing the incentive for other companies to enter the market. In our clinical trials unit there has been a marked drop-off in new HCV trials in the last 6 months, which I suspect reflects a wider reduction in interest in this area because the new standards of care are so effective. This fact was recognised by Benitec a couple of months ago when they closed their HCV programme. Unfortunately, what happened to Benitec with that news, a 50% drop in share price, is likely to occur with BIT, and given a capital raising at 80% you are looking potentially at a rather large dilution at ~2.4c to fund HIV work. Cost-cutting in managerial staff and focusing on HIV is what this company needs, quickly.
BIT Price at posting:
6.5¢ Sentiment: Sell Disclosure: Not Held
