Listed Biotechnology Companies B

This Page Last Updated On 20/2/18

BD1 - Bard1 Ltd.

This company, evolving from Eurogold, relisted in June 2016. The company is developing diagnostics and therapeutics for treatment of cancer and the basic technology appears to be commercially immature as indicated by the low initial listing price. Shares up 70% by end of 2016 due to speculation but have fallen back in 2017 due to lack of progress to commercialisation with a 64% fall in May with release of trial results indicating current diagnostic has problems. Down 82% in 2017 to $4 million with company needing to demonstrate relevance to gain value. In early 2018 it announced positive and accurate diagnosis of ovarian cancer which resulted in an 57% increase in share price to $8 million. (7/2/18)

BGT - Bio-Gene Technology Ltd.

Agtech development company following in the footsteps of Bioprospect with a novel platform technology based on naturally occurring chemicals for insecticide applications. Listed in late November 2017 and shares declined 3% by the end of the year with company value at $25 million. There has been a 3% increase in 2018 to $26 million. (19/2/18)

BIT - Biotron Ltd.

When Biotron listed a decade ago, it was hard to determine the justification for listing. Following listing, prices dropped 50%, bottoming at 17¢ in July 2004 then bouncing to over 30¢ before gradually declining to around 9¢ with speculative rises due to research findings on potential anti-influenza and anti-HIV products. The company had a market cap of $20 million at the end of 2011 which was high and prices were expected to fall again as the company had not yet indicated any substance. In early 2007, prices which were level in 2006 spiked up 60% as a result of speculation over early laboratory results with one of Biotron's compounds but by year's end were down 22%. Shares oscillated wildly in 2008 and a jump was unexplained (down 33%). There was some uncertainty in 2009 (down 20%) with little signs of routes to commercialisation and prices rose 26% in 2010 due to heightened expectations for clinical trial results. There were price oscillations in 2011 (eventually up 4%) associated with a new round of fund raising and positive results in clinical trials. Raising of new funds and optimism about the future increased share prices in 2012 initially but there was then a decline followed by a temporary 50% jump with announcement of positive early trial results (eventually up 8% at $31 million). There was a 44% decline in 2013 to $17 million despite the announcement of encouraging trial results. There was a 38% increase to $29 million in 2014 with trials in Thailand indicating successful treatment of HCV infection with BIT225 and resulting in further fund raising. There have been price oscillations in 2015 and a 40% drop with announcement of higher than expected drop outs in clinical trials, eventually down 51% at $16 million with new fund raising successful. There had been a 4% decline in 2016 to $15 million but the announcement that compounds were being tested against Zika virus and publication of recent research resulted in a 30% lift and a further lift with announcement of positive results in phase 2 trial of BIT225 in treating Hepatitis C infection and activity of compounds against Zika virus (eventually down 24% at $12 million). There was a 26% decrease in 2017 to $11 million associated with a 1:4 rights issue to raise more funds. A temporary jump in price resulted from promising preclinical testing of products against Hepatitis B Virus. There has been a 10% decrease in 2018 to $10 million. ( 20/2/18)

BLT - Benitec Biopharma Ltd.

Following listing of the company in August 2002, the share price grew from 25¢ to over $1 by September 2003. The technology works in the laboratory, but there has been some question as to its practicality in the field. As a result, we considered that the highest market cap of the company of $80 million was too high for a technology at such an early stage and we expected prices to fall. It was therefore not surprising that shares fell 50% in 2004, a further 70% in 2005 and 49% in 2006 with a late recovery associated with new prominent shareholders. This recovery has carried over into 2007 with a 65% speculative jump associated with licensing of Benitec technology via Sigma Aldrich to Pfizer and fund raising (up 22% in 2007 following favourable court decision). There was a further temporary speculative jump in 2008 associated with related parties but prices fell 63% in 2008, changed little in 2009 and down 45% in mid 2010 following agreement to give CSIRO a 10% stake in company, Pfizer taking up option to develop products with Tacere, a licensee of Benitec and appointment of CSO as CEO. The market cap at the end of 2010 of $12 million (following fund raising and speculation) was reasonable. The company has gained licensing opportunities and the investment by companies like Promega offered some blue sky potential. Difficult conditions in 2008 and 2009 forced cost cutting activities and staff reductions. However, USPTO acceptance of Graham patent has led to an almost doubling of share price in September 2010 following a decline (down 34% in 2010). There was an increase in 2011 but a clear decline from mid year and was eventually down 40% at $14 million (following 4 for 5 rights issue) with little evidence to support any improvement other than speculation, an improving patent position and a rights issue to recapitalise the company. There has been some variability in 2012 (eventually down 7% at $15 million) with speculation over application of technology to hepatitis therapy and acquisition of Tacere Therapeutics, a US drug development company using Benitec technology. There was a 7% increase to $31 million in 2013 with new funds raised and a 25:1 consolidation post July and favourable clinical developments in the US. There was a further speculative jump in October 2013 (eventually up 64% in 2013 to $49 million). There was further speculation in February 2014 but this had passed by late 2014 (up 66% to $110 million) with FDA approval for clinical trial to proceed and publication of successful research as well as new fund raising with institutional investors. There was a 69% decrease in 2015 to $43 million with listing on NASDAQ with an associated IPO not totally successful. There was a further 15% decrease to $37 million in 2016 with losses increasing and then a 56% drop when the company announced winding down of its Hepatitis C program due to lack of partnering interest (now down 69% at $13 million - less than cash holdings). No explanation has been given for a recent jump in share price but there has been a reorganisation of executive positions followed by indifferent results from a clinical trial which led to a further drop in price. Strategic engagement with Nantventures has resulted in some price recovery, new key shareholder and new technology licensed in (down 63% to $19 million). There was an 82% increase to $41 million in 2017 with orphan drug designation in EU and new applications associated with application to the eye and with new funds raised. There has been an 8% increase in 2018 to $44 million with FDA granting Orphan Drug Designation to BB-301 for treatment of oculopharyngeal muscular dystrophy. (7/2/18)

BNO - Bionomics Ltd.

The share price of the company dropped to a low of 20¢ at the end of July 2004 then increased 50% up to the end of November 2004 due to a strong push to have alliances in the US and Europe, but retreated to the 20¢ level since then, despite the merger with Iliad Chemicals. Following the merger, associated capital raising and recent announcements of licensing arrangements, there has been some price oscillation. We expected share prices to remain at around these levels or increase if further alliances with the US and Europe could be built. In the longer term, the company will need to demonstrate significantly increased revenues (gradually occurring) and eventually profitability. There were no major changes in prices in 2006 (up 4%) but with the announcement of a new CRC for Cancer Therapy which would be closely associated with Bionomics, there was a jump in early 2007 followed up by new candidate drugs in the pipeline (up 79% in 2007). There was a fall and recovery in 2008 (down 46%). The company had a market cap of $99 million at the end of 2010 which was reasonable (up 67% in 2009 with announcement of $15 million placement but down 17% in 2010). There was an 105% increase in 2011 to $219 million with announcement of positive clinical trials, positive promotion in the market and sale of majority of Start up Australia holding as well as new funds raised. However general share market downturn has affected prices (eventually up 90% at $203 million). There was a 57% decline to $88 million in 2012 despite announcement of collaboration with Ironwood Pharmaceuticals and significantly improved financials but positive end of year financials provided a temporary recovery as well as acquisition of US cancer stem cell company Eclipse Therapeutics and announcement of new drug candidate (eventually down 39% at $131 million). There was a 15% increase in early 2013 to $151 million with advancement of clinical trials reported but a fall once a new fund raising round announced. There was a further spurt with signing of agreement with Merck (up 110% in 2013 to $311 million). There has been a fall in 2014 associated with release of clinical trial data and a significant recovery with announcement of new agreement with Merck with a subsequent recovery associated with favourable clinical trial data and acquisition of Prestwick Chemical in France to improve vertical integration and link with important client base (eventually down 43% to $180 million). There was a 14% decrease in 2015 to $178 million with FDA approving IND for new anticancer candidate, positive results from clinical trials and extension of agreement with Merck as well as a significant new investment in the company by Merck and further fund raising to support a trial on treatment of post traumatic stress disorder which occasioned a 25% fall in share price. There was a further 26% decline in 2016 to $132 million with substantial new funds being raised but at a recent extraordinary general meeting, shareholders did not support issuing shares to new investors. So much so that a 5% holder, CVC called for a General Meeting to remove the chairman and one other director with the claim that flawed board decisions had significantly eroded the company's value. This resulted in some turnover of the board. Positive trial results resulted in a 40% jump in prices which then dissipated (eventually down 11% at $159 million). There was a 17% recovery in 2017 to $186 million and there has been a 9% decline in 2018 to $169 million. (13/2/18)

BOT - Botanix Pharmaceuticals Ltd.

Name changed from Bone Medical to Botanix Pharmaceuticals at end of June 2016 with acquisition of US company Botanix Pharmaceuticals which had a drug delivery technology for treating acne and psoriasis. There was a consolidation of shares with the acquisition and a name change approved by shareholders. Shares up 16% in 2016 after relisting with value of $11 million following good promotion in the market. There has been a 50% increase in 2017 to $23 million with ethics approval for trial involving cannabidiol, promising preclinical results and substantial new funds raised. There has been a 67% increase in 2018 to $75 million with increasing market interest in cannabis products and positive results in clinical trials with planning to fast track next clinical trials as well as raising of new funds. (13/2/18)

BRC - Brain Resource Ltd.

Following the listing of BRC a decade ago, the market showed little interest initially in the company because of the lack of movement or commercialisation. Following July 2003, there was significant interest with doubling of the share price due to announcements of commercialisation of product and the potential collaborations with major pharmaceutical companies. However, this pressure was not maintained and prices fell to 30¢ before increasing by 50% from August to November 2004 but fell back to the 20¢ level by August 2006. There has been a 100% increase since that time associated with substantially increased revenues and profitability. However a sharp drop in October 2008 was of concern. In our view the market cap then of $18 million was low with the company having four profitable years (prices down 28% in 2006, up 70% in 2007, down 56% in 2008, up 50% in 2009 but down 33% in 2010 with latest financial results indicating a slow growth in revenues). Prices rose 15% in 2011 ($21 million) with a levelling off in income and profitability with new moves or new announcements likely such as take up of MyBrainSolutions and new ADHD joint venture. There was a 7% increase in 2012 to $22 million with revenues and profitability stable and a 2% increase in 2013 to $25 million with new funds raised from previous major shareholder. Shares even at $33 million in 2014 with discussions continuing with FDA on diagnostic for depression, new fund raising and growing market penetration of products. There is increasing optimism on submission to FDA for depression treatment test and a new deal with Boeing (down 28% in 2015 to $27 million with new funds raised). Company is also proposing to change its name to MyBrainSolutions. Further decline of 17% in 2016 to $22 million with expansion of collaborations in the US and a sudden unexplained 30% drop in June (eventually down 47% at $15 million). Was a further 30% decrease in 2017 to $12 million with appointment of new CEO likely to gain the company higher profile and new funds being raised to expand in the US market. Following the AGM in November 2017, there was a temporary recovery (eventually down 40% at $31 million) with raising of substantial funds. There has been a further 8% decline in 2018 to $28 million. (18/2/18)

BTC - BTC health Ltd.

Originally called Biotech Capital and then name changed to BTC health in November 2017. After relatively stable prices in the mid 40¢ range during 2004, prices fell 15% in 2005 in line with declines in the biotech sector in 2005 but recovered to their former trading band until late 2006. The company appeared to be losing momentum in late 2006 and prices declined significantly and this was partly countered by share buyback (down 7% in 2006). The decline continued in 2007 (down 20%), in 2008 (down 63%), in 2009 up 161% and down 58% in 2010. The company had a market cap of $3 million which was less than its reported net asset backing of $4.1 million even after write offs. The company was considering alternative options for moving forward including removal of pooled development fund status and investment outside the biotech industry. This culminated in board change suggesting move out of life science sector. Share buyback was supporting price but with the change this was no longer effective as there were questions about the value of the company's portfolio and more write offs were likely. Prices oscillating and eventually down 43% in 2011 with dividends being paid and shareholdings being offloaded for around half of book value prior to restructure of company. There was an unexplained and temporary 41% lift in early 2012: eventually down 51% with only one unsold investment remaining in portfolio and departure of Chairman. There was a further temporary decline in 2013 with questions asked about the net tangible asset valuation of the company and share trading. Even in 2014 and no explanation for a 30% temporary jump in prices. In July 2014, there was a change of Board members with new funds injected and a 268% increase in share price to company value of $8 million with speculation as to future activities of the company with a major shareholder increasing share. There was a 9% increase in 2015 to $10 million with the injection of funds by Lang Walker and change of Board but the company has indicated it only had net tangible backing of less than $2 million suggesting the extent of speculation. Company has moved from WA to Victoria. In 2016 shares up 15% at $12 million with acquisition of advisory company Biointelect, major shareholder selling out and investment in bio101 Group as well as paying Chairman consulting fees instead of lower director fees. Shares up 100% to $30 million in 2017 with new funds raised and change of company name to BTC Health in November 2017. There has been a 2% decline in 2018 to $29 million and company is proposing to divest its consultancy subsidiary with downward valuation of its tangible assets to less than $3 million. (15/2/18)

BXN - Bioxyne Ltd.

Formed from merger of Probiomics and Hunter Immunology in April 2012 with a market value at the time of around $30 million. Since listing, there was a 15% increase to $34 million apparently on basis of speculation and a sharp reversal in June 2012 with announcement of results of clinical trial (down 85% to $5 million). Recent shareholder meeting unseated three directors and an agreement is in negotiation for sale of probiotics business and sale of equity to Vaxine for $4.3 million to continue trials. A further meeting of shareholders in December resulted in the departure of two more directors, a refutation of the strategy of the company and further price falls (down 93% to $2 million). An eventual result was the exit of the CEO and replacement with an interim CEO who is a major shareholder. There was a 7% increase in 2013 initially without explanation but due to speculation over proposal for acquisition of Vitality, a marketing company formed by ex-executives of Chemgenex. This acquisition did not proceed and value of company fell 29% in 2013 to $2 million with sale of COPD technology to Mariposa Health. There was an unexplained recovery in 2014 with financials improving and temporary profitability (up 40% to $3 million). Up 57% in 2015 at $4 million with sales of probiotics higher than expected and deal with Mariposa likely to provide unprojected income. Down 18% in 2016 at $4 million and up 121% in 2017 at $21 million with acquisition of product development company, new CEO and new funds raised. There was a 300% jump in December 2017 with the launch of new dairy formula products in South East Asia (eventually up 411% at $59 million). There has been a 24% decrease in 2018 to $45 million. (11/2/18)