Sydney, Australia The share price of Biota Holdings Ltd., a Sydney-based flu-cure company, jumped sharply on the news that partner Glaxo Wellcome plc, of London, filed for U.S. marketing approval of the influenza drug Relenza.
Biota¿s share price jumped from A$5.06 (US$3.17) last week to A$5.30 by the close of business Monday, although that share price has not yet reached the stock¿s late-September peak of A$5.45.
As previously reported, Glaxo already has filed for marketing approval in Europe and Australia, but the approvals are not expected until well after the Northern Hemis phere¿s flu season. Biota has licensed the technology for Relenza, involving a neuraminidase inhibitor, to Glaxo, and has moved on to a range of other research projects, including a tablet for insulin delivery. Mark Lawson