Sydney-based anti-cancer biotechnology company Viralytics (ASX: VLA, OTC: VRACY) reported today it was not aware of any information that if known to the market, may cause the increase company’s share price.
The shares were up 50%, to $0.041, on trading volume of 31.75m shares. Average monthly share turnover for Viralytics is around 17.4m shares.
Managing director Bryan Dulhunty was presenting in the US on an investor roadshow recently.
Viralytics develops oncolytic viruses to extend patient survival and aims to improve the quality of life for cancer patients.
Lead product is CAVATAKTM. In preclinical work CAVATAKTM has shown significant potential to treat a large range of cancers.
It has completed two Phase I melanoma studies in Australia with Stage 4 patients, using CAVATAKTM, and Viralytics is aiming to commence a Phase II Melanoma trial in USA in 2010.
Preclinical Proof of Concept has been achieved in a range of cancers.
Cash at bank at Sept'09 was $0.92m. With access to additional $9.1m in funding via a convertible note facility, listed options and investments for sale.
Issued capital is 322m shares. Share price range 52 weeks: $0.054 - $0.025.