Bionomics (BNOX) Shares Surge 177% on $1 Million Milestone Payment from Carina Biotech

Bionomics Ltd’s ADR shares (BNOX) are experiencing a dramatic surge, climbing by a staggering 177% to 53 cents on Tuesday morning. This significant jump follows the company’s announcement of a $1 million milestone payment received from Carina Biotech. This payment is directly related to their collaborative oncology program, BNC101, and underscores the program’s promising trajectory.

The milestone payment aligns with the exclusive license agreement Bionomics signed with Carina Biotech back in 2020. This agreement centered around BNC101, a monoclonal antibody specifically targeting LGR5, a key antigen found on cancer stem cells. Carina Biotech is currently developing CNA3103, a CAR-T therapy focused on LGR5, aimed at combating metastatic colorectal cancer.

This $1 million payment marks a significant step forward for Bionomics, with the potential for even greater financial rewards down the road. The agreement stipulates that Bionomics could earn up to an impressive AUD$118 million in additional milestone payments throughout the development, regulatory approval, and commercialization phases of CNA3103. Furthermore, Bionomics is set to receive royalties based on the therapy’s net sales and could even gain a share of sublicensing revenue.

Bionomics’ CEO emphasized the importance of this milestone payment, highlighting it as a testament to their robust research capabilities and the success of their strategic partnerships. The CEO also pointed to the ongoing progress of their collaboration with Merck on an Alzheimer’s therapy, which holds the potential for generating further milestone payments in the near future.

How to Invest in BNOX

Investing in BNOX can be achieved through various methods:

*

Brokerage Platforms:

The most direct approach is purchasing shares, or fractional shares, through a brokerage platform.
*

Exchange Traded Funds (ETFs):

Investors can gain access to BNOX by acquiring shares in an ETF that holds the stock. This provides exposure to a basket of companies within the same sector, allowing investors to track broader market trends.
*

401(k) Strategies:

By allocating a portion of your 401(k) to a strategy focused on acquiring shares in mutual funds or other instruments within the Health Care sector, you can indirectly gain exposure to BNOX.

BNOX Share Price Performance

According to Benzinga Pro, BNOX has experienced a range of $0.18 to $2.84 over the past 52 weeks, demonstrating its volatile nature.

This news underscores the significant potential of BNC101 and highlights Bionomics’ commitment to pushing the boundaries of scientific discovery. The company’s strategic partnerships and ongoing research efforts suggest a bright future for Bionomics and its investors.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top