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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
British & American Investment Trust Plc | LSE:BAF | London | Ordinary Share | GB0000653112 | ORD SHS #1 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 18.00 | 16.00 | 20.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Motion Pictures | 1.68M | 976k | 0.0390 | 4.62 | 4.5M |
Net Asset Value
This announcement is made further to the publication earlier today of our Half-year Report to 30th June 2018.
In our Report, Net Asset value as at 25th September 2018 was shown as £26.1 million, equivalent to 65 pence per share (prior charges deducted at par) and 75 pence per share on a fully diluted basis. This was based on the closing market price on 24th September for our largest investment, Geron Corporation, of $6.38 per share.
Since the publication of our Report earlier today, Geron Corporation has unexpectedly announced the discontinuation of its collaboration agreement with Janssen Biotech Inc (a unit of Johnson & Johnson) for the development of Geron’s oncology drug, Imetelstat, currently in clinical trials for two hematologic (blood) cancer indications, Myelofibrosis (MF) and Myelodysplastic Syndrome (MDS) . Janssen’s decision follows a strategic review and prioritisation of assets within its portfolio. Geron now regains full ownership of all rights and clinical trial data to Imetelstat previously assigned to Janssen.
As noted in our Report, the share price of Geron has increased substantially in recent months in reaction to positive developments in its clinical trials and in anticipation of a positive decision by Janssen to continue its collaboration with Geron, which had been accelerated to the end of the third quarter. As a result of today’s decision by Janssen not to continue the collaboration with Geron, the Geron share price is likely to fall substantially and this is likely to have a material impact on our previously announced net asset value.
Copyright r 27 PR Newswire
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