Bionomics Limited (ASX: BNO) – Ceased To Trade On ASX Ahead Of Pending Disclosure Of BNC210 Phase 2 Clinical Trial Results

Healthcare company Bionomics Limited stopped showing any momentum on ASX today, 28 September 2018.

In a market announcement dated 28 September 2018, Australian Securities Exchange confirmed that securities of Bionomics Limited are placed in trading halt, at company’s request. The move comes after the company requested for a trading halt to its securities from the start of the day, pending an announcement to be released in the market.

The halt in trading of Bionomics securities is reportedly placed to avoid the sell and buy of BNO shares in an uninformed market as the company is due to announce the results of RESTORE trial. It is a Phase 2 clinical trial focused on assessing the efficacy and safety of BNC210 for the treatment of patients with post-traumatic stress disorder (PTSD). Tracking down the previous progress, it was seen that the Phase 2 clinical trial was fully recruited by the company on 11 April 2018.

Under the BNC210 RESTORE trial, biopharmaceutical company Bionomics aimed to register up to 192 adult patients diagnosed with post-traumatic stress disorder at sites across Australia and the United States. The primary endpoint of this study includes a reduction in PTSD symptoms while the secondary endpoints are focused on decrease in symptoms of anxiety and depression.

Let’s understand what is BNC210?

BNC210 is a therapeutic drug candidate which has been developed for the treatment of anxiety, trauma and stress related disorders. BNC210 is reported to have a better endurability compared to other existing drugs as it is a first-in-class negative allosteric modulator of the alpha-7 nicotinic acetylcholine receptor.

Sponsored ad by Kalkine

This was the brief information about the ongoing Phase 2 clinical trial of BNC210 for PTSD treatment, the results of which are due to be released shortly. The trading halt in Bionomics’ securities are said to be in place until the earlier of 2 October 2018 or the release of market announcement as stated above. 

The annual general meeting of the company is due to be held on 14 November 2018. It is said to transact the business on election of Directors.  In the recently announced statutory results for the year ended 30 June 2018, Bionomics posted reduction in top line delivering greater loss for the fiscal year 2018. The revenue for FY18 has gone to $3.95 million from $18.81 million in previous year, FY17. Net loss after tax rose from $6.75 in FY17 million to $25.08 million in FY18. No dividend was recognized or declared as in line with company’s dividend policy.

After hitting 2.913% downswing, the share price of Bionomics Limited last traded at $0.500 on 27 September 2018. The stock has seen a performance change of +8.70% over the past one year but its share price has fallen by 2.91% in the last three months.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Facebook Comments

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here