Sell: ½ of Benitec Biopharma (BNTC 2)
From Global Investing
Updated from Investment Digest 771, July 22, 2015
We will sell half of our Benitech common, taking a 42% loss on my lamentable Australian pick, despite its patented tech winning a clear green light from the Chinese-American billionaire Dr. Patrick Soon-Siong of LA. There are a couple of reasons for my exit. First, the cupboard is bare, as BNTC revealed in its latest quarterly report put out after the NantWorks deal was agreed.
Secondly Benitec will probably become American rather than Ozzie. And third, I have made a whopping 550% gain Friday in the BNTC warrants I managed to buy—but most of the readers did not manage to buy them. The warrants are likely to be worth something now, although for the record they are also under water. The common stock can go either way.
Vivian Lewis, Global Investing, www.global-investing.com, 212-758-9480, October 30, 2016