Biotech surges & pot-stocks reach new highs
Last week was a powerhouse one for biotech and pot-stocks — spaces that of course often converge.
As Meagan Evans explored earlier in the week, these kinds of high-impact performances have sparked a salient question — is biotech finally back?
One such stock is Biotron (ASX:BIT) — an $128 million-capped company that’s developing a new class of antiviral therapies.
After lifting as much as 1600% since late September, to hit a high of 33 cents after announcing significant immunological outcomes in an HIV-1 clinical trial for its lead drug, BIT225, Biotron pulled back some, ending the week at 25.5 cents.
BIT225 is in Phase 2 development for the treatment of HIV-1 and Hepatitis C virus infections. Importantly, BIT225 inhibits HIV-1 replication in macrophage reservoir cells offering the potential, when used in combination with other anti-retroviral compounds, to eradicate HIV-1.
The company also has a robust pre-clinical pipeline, including an impressive portfolio of compounds with activity against a broad range of viral diseases.
Another biotech stock that’s soaring is biopharma drug discovery and development company, Antisense Therapeutics (ASX:ANP), which ended last week at 1.8 cents, and then went on to a high of 6.2 cents this Wednesday, as it attracted attention for its current clinical trial at the Royal Children’s Hospital (RCH) in Melbourne. ANP ended the week at 5.5 cents for a 205% gain. Not a bad run indeed.
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