24/7 Market News Snapshot 04 November, 2024 – Bionomics Limited American Depository Shares (NASDAQ:BNOX)

November 4, 2024

DENVER, Colo., 04 November, 2024 (247marketnews.com) – (Nasdaq:BNOX) are discussed in this article.
Bionomics Limited (Nasdaq:BNOX) is garnering investor attention as its American Depository Shares opened today at $0.20, reflecting a notable increase of 13.26%, now trading at $0.223 with a volume of 5.37 million shares. This surge suggests a growing bullish sentiment in the market, possibly linked to significant developments within the company. Analysts are observing critical resistance levels around $0.25 and support at $0.20, which will be pivotal in determining the stock’s future trajectory. The rising trading volume signals the potential for continued investor interest as Bionomics positions itself for substantial growth opportunities.

Adding to the positive momentum, Bionomics recently achieved a notable milestone by receiving a payment of AUS$1 million from Carina Biotech related to their collaboration on BNC101, a monoclonal antibody targeting cancer stem cell antigen LGR5. This payment is a result of their exclusive licensing agreement initiated in November 2020, and represents a significant advancement in Bionomics’ oncology programs. The success of BNC101 is tied to Carina Biotech’s LGR5-targeted CAR-T cell therapy, CNA3103, aimed at metastatic colorectal cancer.

Looking ahead, this partnership could yield up to AUS$118 million in total potential payments through various development, regulatory, and commercialization milestones contingent on the therapy’s success. Dr. Spyros Papapetropoulos, President and CEO of Bionomics, highlighted the importance of their collaborative efforts and the fruitful relationships established within the biotech space. In tandem, Bionomics is gearing up for Phase 2 studies under its collaboration with Merck, targeting cognitive dysfunction associated with Alzheimer’s disease, which may unlock further development milestone payments. Bionomics remains committed to advancing innovative therapeutic solutions in the biotechnology sector while maximizing the potential of its strategic partnerships.

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