Circadian Technologies
Circadian Technologies (ASX: CIR) is an Australian biotechnology company developing innovative, biologics-based therapies for the treatment of cancer and other serious human illnesses.
Circadian owns an extensive portfolio of products and intellectual property related to Vascular Endothelial Growth Factors (VEGFs), a class of proteins that play a critical role in regulating tumour blood supply.
Circadian Technologies director tops up shareholding
Thursday, October 20, 2011
Circadian Technologies (ASX: CIR) non executive director Errol Malta acquired 20,000 shares indirectly at $0.52 per share on October 17 in an on market trade.
The purchase was made for a consideration of $10,390 and Malta now holds an indirect interest of 70,000 shares.
Circadian Technologies recently received a glowing valuation from Van Leeuwenhoeck Research, which is a firm specialising in bio technology and life science sectors, and based in The Hague and in New York.
Based on sum-of-the-parts valuation, the research firm believes Circadian is gravely undervalued at the current share price of AUD 0.47. Using its valuation model, Circadian’s total value is considered to AUD 91 million, or A$1.97 per share.
This represents more than 300% upside from the current share price which last traded at $0.52 per share.
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