US stocks fell on Tuesday on disappointing corporate news and renewed worries over global credit markets. Asian stocks mostly opened lower today with Australian and Japanese markets slashed sharply at opening.
Daiichi-Sankyo Company Limited
The Australian share closed slightly higher lifted by miners. The benchmark S&P/ASX200 index ended the day up 0.7%, or 25.7 points, at 3672.3, while the broader All Ordinaries index rose 0.8%, or 29.3 points, at 3615.6. For the week, the ASX200 added 6% and the All Ordinaries rose 6.2%.
Biota Holdings Limited (ASX:BTA) Daiichi-Sankyo (TYO:4568) Exercise Right To Market CS-8958 In Japan
Biota Holdings Limited (ASX:BTA)(PINK:BTAHY) today announced that Daiichi Sankyo (TYO:4568), the co-owner of the long acting neuraminidase inhibitor (LANI) CS-8958, has signed a contract to manufacture and market the product in Japan, pending the successful completion of the pivotal Phase III clinical studies and on obtaining registration approval. Biota, as one of the owners, will receive an undisclosed royalty on sales and a number of fixed sum payments on the achievement of certain sales milestones in the Japanese market.
Tokyo stocks opened sharply lower Friday with investor sentiment hurt by Sony Corp.'s forecast of an annual operating loss as well as by a fall in U.S. shares overnight due to disappointing corporate earnings there. Yesterday the Aisan markets gained on the good lead from Wall Street. Hong Kong's Hang Seng Index firmed 0.6% to 12657.99. The Shanghai Composite Index added 1%. South Korea's Kospi Composite rose 1.1% to 1116.23.
Yesterday the Australian stock market ended the day lower, led by financial stocks, on renewed worries about banking industry worldwide. The benchmark S&P/ASX200 index was down 1%, or 33.8 points, at 3442.8, while the broader All Ordinaries index was lower by 0.9%, or 30.2 points, at 3394.8. Regulator ASIC's move to extend a ban on covered short-selling of financial securities would give a positive lead to the banking industry.
Biota Holdings Limited (ASX:BTA)(PNK:BTAHY) today announced that the multiple centres involved in the Phase III clinical trail on its long acting neuraminidase inhibitor (LANI) CS-8958 are ready to commence treatment. Patients are expected to enrol into the study progressively throughout the Asian influenza season.
Biota Holdings Limited (ASX:BTA)(PINK:BTAHY) today announced that its second generation, influenza treatment, CS-8958, has successfully completed its initial Phase II clinical evaluation, showing favourable outcomes against all measured endpoints. The initial Phase III trial is scheduled to commence later this year. CS-8958 is a long acting neuraminidase inhibitor (LANI), and is co-owned with Daiichi-Sankyo Company Limited (TYO:4568).