EvoGenix lists at 20 per cent premium
Thursday, 11 August, 2005
Antibody therapeutic developer EvoGenix (ASX:EGX) listed today on the Australian Stock Exchange at AUD$0.30, 20 per cent above its issue price of AUD$0.25.
Evogenix identifies and develops antibody-based drugs and the company's technology works in three ways: it humanises to reduce immune rejection of the original mouse antibody, optimises the antibody protein to increase potency, and conjugates to increase cell-killing activity of antibodies.
At the time of writing, shares were trading at $0.27.
"We're pretty happy about it all and the price seems to be looking pretty good," said EvoGenix CEO Merilyn Sleigh. "It's sitting around $0.26 - $0.27 which is really very good at the moment, given that biotech in general isn't the hot topic."
The company's IPO raised AUD$9 million through the issue of 36 million shares and closed oversubscribed.
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