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Biotron shares start to run on potential ties to coronavirus

Board member Robert Thomas purchased one million shares in the company yesterday and shares finished up 40%.

Biotron - Biotron shares start to run on potential ties to coronavirus
Shares closed yesterday at 8.4 cents

Biotron Ltd (ASX:BIT) until recently, was capturing investors’ attention through its BIT225 drug, which is in mid‑stage clinical development for treatment of HIV-1 and Hepatitis C virus (HCV) infection.

However, a company presentation dated 7 June 2019 has got investors intrigued, given the recent outbreak of the deadly coronavirus.

Furthermore, non-executive director Roberts Thomas purchased one million shares yesterday in an off-market purchase for $50,000.

This took his total holding in the company to 3.66 million shares.

This followed a $40,000 purchase on 10 January 2020 from fellow board member Stephen Locarnini.

Biotron could turn focus to coronavirus

With one of China’s most populated cities, Wuhan, being placed on lockdown today and the death toll from the coronavirus rising to 17, Biotron may increase its focus on the coronavirus.

Quick facts: Biotron Ltd

Price: 0.11 AUD

Market: ASX
Market Cap: $77.21 m

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