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BLT - Benitec Biopharma

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Re: BLT - Benitec Limited

Benitec Phase I Study Update
2 April 2007, Melbourne, Australia: The Directors of Benitec Limited (ASX: BLT) are delighted to announce that the Phase I study in HIV in collaboration with City of Hope should commence shortly.
The Investigational New Drug (IND) application was submitted in late January to the U.S. Food and Drug Administration (FDA), which has requested one additional safety test for the virus lot and additional information regarding several reagents used in the virus manufacture. The additional virus safety study is underway and will take approximately 4 weeks to complete. Pending final submission of these results to FDA and approval to proceed, we expect recruitment to commence soon.
This IND study being undertaken in collaboration with City of Hope is entitled “A pilot study of safety and feasibility of stem cell therapy for AIDS lymphoma using stem cells treated with lentivirus vector-encoding multiple Anti-HIV RNA’s”. The vector rHIV7-shI-TAR-CCR5RZ was manufactured by City of Hope’s Center for Biomedicine and Genetics. More details on the study will be provided when the trial commences.
“We are pleased that we are close to being ready to commence the Phase I study in this group of patients. This is the first human trial using Benitec technology and we are very fortunate to be working with such world class investigators and the team at the City of Hope” said Sue MacLeman, CEO, Benitec Limited.
 
Re: BLT - Benitec Limited

This is weird. I sent my payment for my entitlement to the new share issue with attached options, but have received nothing and no new holdings appear in my commsec account. Does this mean my application was rejected? I don't understand why it would be when the offer was undersubscribed. I have no idea what happened, no notifications at all :confused:
 
Re: BLT - Benitec Limited

You're not the only commsec person that didn't see the shares yesterday. I'm with NAB. A friend of mine with commsec didn't see his entitlement.
 
Re: BLT - Benitec Limited

Hi BTC

My entitlement appeared today, what a relief! I also emailed benitec and they said that some entitlements were registered yesterday and others overnight. And we all made approx 100% profit (on paper at least) I believe on the cost of the entitlement when you include the current value of the free options. I am not selling and will start buying up more when I can afford it. It think the future is extremely good for shareholders in BLT. Of course, 'the future' can mean anything from one year to ten years. I can wait !! lol

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britishcarfreak said:
You're not the only commsec person that didn't see the shares yesterday. I'm with NAB. A friend of mine with commsec didn't see his entitlement.
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Re: BLT - Benitec Limited

I was finally right that the trials ANN was coming and that was really good news. This is very exciting. I think we will see some really stable upwards movement after the next few days of profit taking from the rights options. Also we finally know the top 20 shareholders....

Who the hell is the whale trust?

Interesting to note that Bremner must have sold down about 15M shares and then bought another 10M and get 10M options (deducted myself from his holding in the top 20 list). Thus after the General Meeting and the allocation to him he must have slowly offloaded 15M shares or so - as his current holding is still only 48M and he somehow ended up with 15c options. I'm not surprised that the SP was kept down so much as 15M offloaded is so much!

Does anyone have any interesting details on the top 20?

  1. Dr Christopher Bremner
  2. Captain Starlight Nominees Pty Limited
  3. Sigma-Aldrich Pty Limited
  4. Promega Corporation
  5. National Nominees Limited
  6. Citicorp Nominees Pty limited
  7. Artemis Trustees Limited <The Whale A/C>
  8. Invia Custodian Pty Limited <White A/C>
  9. HSBC Custody Nominees (Australia) Limited
  10. Invia Custodian Pty Limited <Black A/C>
  11. ANZ Nominees Limited <Cash Income A/C>
  12. HSBC Custody Nominees (Australia) Limited – A/C 2
  13. Cotsenvy Pty Ltd <Nasser Family A/C>
  14. Kanilo Pty Limited
  15. Done Nominees Pty Limited <Done Super Plan A/C>
  16. Mr Giuseppe Luca & Mrs Concetta Luca
  17. Mr John Alexander Hunt & Mrs Irene Lucy May Hunt (J & I Hunt S/F A/C>
  18. Ken Done & Associates Pty Ltd <Ken Done & Assoc S/F A/C>
  19. Ms Anne Tang
  20. Mr David Burton Gibson
 
Re: BLT - Benitec Limited

I have decided to buy more shares to make my initial purchase more affordable..
 
Re: BLT - Benitec Limited

DO YOU CARE - this extract is from information I found on the Fairfax site: they divested all shareholdings except in some photo file company and a large part if not all of this holding they have also divested : they apparently propose to start re-investmenting in various diverse industries including biotech, but in which I have no idea...

"4.6. Biotechnology and Pharmaceuticals

IIG's previous biotechnology investment held through Shares
in Benitec Limited (a Company listed on ASX) was disposed
of in December 2004. Subject to Shareholder approval, IIG ..."



doyoureallycare said:
Could you post some info on that?
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Re: BLT - Benitec Limited

There is a reasonable volume and increase in price to around 17c, is there something happening that isnt announced yet.
 
Re: BLT - Benitec Limited

This stock has had a history of running a few days prior to an ANN up or down. Just check the last run - two days prior to ann.

I read a theory that there may be an update on the legal stuff but it's just a guess.

Check out bltoa (options) too.
 
Re: BLT - Benitec Limited

There is an announcement of a new CFO just out.. however I dont think this is market sensitive and would suggest something else forth coming..

New CFO appointed 13 April, Melbourne, Australia: Benitec Limited (ASX:BLT) announced today that it has appointed Mr John Rawling as the new Chief Financial Officer (CFO) of Benitec Limited and its five related entities in the USA, UK and Australia. Mr Rawling first joined Benitec earlier this year as the co-company secretary and accountant and has over 20 years experience as a chartered accountant working with both International and ASX listed companies. He is also currently CFO of Polynovo Biomaterials Pty Limited and prior to his current roles he held the same position at EQiTX Ltd, Kentor Gold Ltd and Terrain Australia Ltd. He has also been CFO of the listed company Online Trading Systems Ltd and Finance Manager for the Australian Grand Prix Corporation.” “This is a natural progression for John, whose strong financial services background and invaluable international experience will continue to enhance the strength of our management team” said Sue MacLeman, CEO of Benitec Ltd. Paul McMahon will be leaving the company in early May 2007. We would like to thank Paul for his contribution to Benitec over the past 8 months and we wish him success in his future endeavours.
 
Re: BLT - Benitec Limited

Whats happening here? Up 24% with more volume than usual and about 30% from two days ago ???
 
Re: BLT - Benitec Limited

I understand that BLT's response to the USPTO is due today/tomorrow and that it is likely we may hear what the actual legal situation is with the graham patent soon. However, it could just be as simple as "we responded to the case with.. xyz" and this may prove nothing. As usual though someone knows something prior to an ANN and the stock moves accordingly. I'm sitting tight and resisting temptation to sell.
 
Re: BLT - Benitec Limited

Obviously will be good news tomorrow, and someone already knows it or is speculating on it being good news, its probably all a guessing game at the moment. I only have my new issue shares and lots of options and am hanging on to them, but have niggling voice in my head saying 'sell now'. Hard isnt' it!

britishcarfreak said:
I understand that BLT's response to the USPTO is due today/tomorrow and that it is likely we may hear what the actual legal situation is with the graham patent soon. However, it could just be as simple as "we responded to the case with.. xyz" and this may prove nothing. As usual though someone knows something prior to an ANN and the stock moves accordingly. I'm sitting tight and resisting temptation to sell.
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Re: BLT - Benitec Limited

On 2nd April BLT announced that it would take approx 4 weeks to complete additional virus safety study. Pending submission of these results, and subsequent approval, they expected to be recruiting 'soon'.

I'm starting to get uncomfortable with this.

Let's say they took 5 weeks to complete study and submit then that's like a week ago. I guess realistically it could take 2 weeks to get approval???? So maybe in about a week's time we should see FDA approval for the IND. I figure we'll see movement in the price (insider trading) well before we hear about it i.e a day or two prior to actual ASX Ann.

We've seen some unusually large price movements (to 18c and to 23c etc.) all of which would seem to be tied to some of our larger shareholders increasing their piece. This initially gave me a lot of confidence and I too accumulated more.

Now I'm wondering where the sell down is going to stop - we're tracking dangerously close to 13c.

I figure a few things could be happening independently of the legal and trial stuff.

1) some nervous 'saving of profits' for those that took up the rights offer.
2) some closing out on capital losses before tax time.

To be honest, I've offloaded a lot and purchased back again - just to capture some loss on paper for this financial year (to minimise my overall capital gain for 06-07). If people are doing what I'm doing then we're just going sideways!

Do you guys concur that we should see a trials ann. in about a week?
 
Re: BLT - Benitec Limited

i think you need to realise that the shareprice at this point means nothing, with the buying that has gone on, I would say the big players are set, and its the small impatient traders that are offloading.

with biotech companies how often have you seen a share price struggling battling along, and then all of a sudden BANG!!! it goes up... you saw it with BLT when it went to 48 cents, we have seen in with PGL, BTA, just to name a few.

i think with biotechs you look to buy the product, not the share price if that makes sense.

if you can't handle the volatility then biotechs are not for you.

its a long road with biotechs, not many people want there cash tied up for up to 10 years in the one stock.
 
Re: BLT - Benitec Limited

Ken said:
i think you need to realise that the shareprice at this point means nothing, with the buying that has gone on, I would say the big players are set, and its the small impatient traders that are offloading.

with biotech companies how often have you seen a share price struggling battling along, and then all of a sudden BANG!!! it goes up... you saw it with BLT when it went to 48 cents, we have seen in with PGL, BTA, just to name a few.

i think with biotechs you look to buy the product, not the share price if that makes sense.

if you can't handle the volatility then biotechs are not for you.

its a long road with biotechs, not many people want there cash tied up for up to 10 years in the one stock.
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Good points Ken - I was stopped out a couple of weeks ago, and was thinking of getting in again soon. I am concerned that the whole patent dispute thing is weighing down the share price though, and may even put a dampener of BLT's approval to proceed to trials.
 
Re: BLT - Benitec Limited

good points. you don't need to warn me about volatility etc. I know my risks. I'm just trying to get some discussion going here.

the patent thing has been speculated by some to be restricting trials from proceeding.

we should see some movement in a week or so.

I keep kicking myself for not offloading on the high points. I've been through a few now!
 
Re: BLT - Benitec Limited

britishcarfreak, if your judgement is correct, and in 3-5 years time the volatility now may seem worth it. when BLT has a $ sign next to its share price you will be kicking your heels.

If you sold at 25 cents and it was now 40 cents you'd be kicking yourself.

Hard to predicat a stock such as BLT. Its illregular, and probly in the sectors of first stocks to be dumped when the market fall due to speculation factor as people go more defensive.
 
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