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Bionomics Ltd – ADR (NASDAQ:BNOX) shares are trading higher by 177% to 53 cents Tuesday morning after the company announced it received a milestone payment of AUD$1 million from Carina Biotech related to their partnered oncology program, BNC101.
What To Know: This payment aligns with their 2020 exclusive license agreement for BNC101, a monoclonal antibody targeting LGR5, a cancer stem cell antigen.
Carina Biotech is developing an LGR5-targeted CAR-T therapy, CNA3103, for metastatic colorectal cancer, and Bionomics could earn up to AUD$118 million in further development, regulatory and commercial milestone payments if the therapy is fully developed and marketed.
Additionally, Bionomics is set to earn royalties on net sales and may receive a share of sublicensing revenue. Bionomics' CEO highlighted this payment as a testament to their research strength and noted the progress of their strategic partnership with Merck for an Alzheimer’s therapy, which could soon yield additional milestone payments.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Bionomics’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, BNOX has a 52-week high of $2.84 and a 52-week low of $0.18.
Posted In: BNOX
