Hey Lifeistoshort , I was advised by Michelle Miller herself , Benitec would struggle with their drug , and hence was no surprise to me that Benitec withdrew . Had nothing to do with the supposed crowded space that rgc speaks of . I spoke with my chemist the other day , who is a holder of BIT after my recommendation . He is on BIT because it will be a winner . Why would a chemist buy into BIT , surely he knows the drug market . Anyway Gileads drug is on sale in Australia of $64,000 per course . The distributors are asking for cash up front , no 30 day credit . He suggested he would hesitate ordering in as if he had 5, 6 or more patients roll up at once he would need to fund the $400,000 sale with no margin . With no guarantee to be paid by pbs . Great politics yeh .
There is still plenty of money to be made in the Hep C market . Our stock market has got it wrong for now . Just take a look at some of our other biotechs .
BIT Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
