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Benitec Biopharma's shares take-off

Last updated: 11:20 24 Feb 2014 AEDT, First published: 10:20 24 Feb 2014 AEDT

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Benitec Biopharma's (ASX: BLT) shares continue to rally, with the company closing 26.2% higher on Friday at $1.59, while 2.6 million shares changed hands.

The value of the company is now more than five times higher than six months ago.

Benitec recently said that patient screening for the Phase I/IIa clinical trial for TT-034 Hepatitis C drug was on track at the Duke Clinical Research Unit in North Carolina with the first dosing expected to occur in early to mid-March 2014.

Preclinical studies have shown that the vector used to deliver the TT-034 specifically targets liver cells where it transfects almost every cell without causing toxic effects.

The drug is designed to prevent development of viral resistance, which is a major problem for most Hep-C drugs.

 

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