Axovant Has Promise, But Downside Risk Still Outweighs Prospects [Seeking Alpha]
Benitec Biopharma Inc. (BNTC)
US:NASDAQ Investor Relations:
benitec.com/for-investors/investor-faqs
Company Research
Source: Seeking Alpha
Summary Axovant recently failed in Phase II for flagship candidate nelotenserin and decided to discontinue the program. There is still ample promise in its gener therapy programs but they are too premature to generate much shareholder value in the near term. Today's premarket jump higher does not seem sustainable longer term, though investors may want to check in again next year to see where Axovant is by then. Axovant ( AXON ) recently announced that its Phase 2 study of nelotanserin did not meet initial efficacy standards but showed promise on secondary measures. Secondary data was not enough though, and the company decided to discontinue studies and instead concentrate on its gene therapy pipeline. Upon announcement, the stock gapped down from $1.71 to $1.17 and is still sitting at that level after a recent 16% jump on seemingly no news at all. The jump higher is even more surprising considering the company’s recent $30M equity financing
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BNTC
News
- Benitec Biopharma Inc. (NASDAQ: BNTC) had its price target raised by analysts at JMP Securities from $10.00 to $16.00. They now have a "market outperform" rating on the stock.MarketBeat
- Benitec Biopharma Reports Positive Interim Clinical Trial Data for First OPMD Subject Treated with BB-301 in Phase 1b/2a Study [Yahoo! Finance]Yahoo! Finance
- Benitec Biopharma Reports Positive Interim Clinical Trial Data for First OPMD Subject Treated with BB-301 in Phase 1b/2a StudyGlobeNewswire
- Benitec Biopharma Announces Oversubscribed Private Placement Financing of $40.0 Million [Yahoo! Finance]Yahoo! Finance
- Benitec Biopharma Announces Oversubscribed Private Placement Financing of $40.0 MillionGlobeNewswire
BNTC
Sec Filings
- 4/19/24 - Form 8-K
- 4/18/24 - Form 8-K
- 4/11/24 - Form SC
- BNTC's page on the SEC website