HomeMarket NewsMicro Cap StocksSteve Cohen Expands Biopharma Portfolio with Strategic Purchase of Bionomics Shares

Steve Cohen Expands Biopharma Portfolio with Strategic Purchase of Bionomics Shares

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Renowned billionaire investor and owner of the NY Mets, Steve Cohen, continues to show his support for the biopharmaceutical sector by purchasing over 119 million shares of Bionomics Limited, a leading clinical-stage biopharma company. This move further solidifies Cohen’s commitment to investing in promising biotech companies.

Bionomics Limited, known by its ticker symbol BNOX on the NASDAQ exchange, is an Australia-based company that trades on the Nasdaq and Frankfurt Stock Exchange through American Depositary Shares (ADS). Recently, the company announced its intention to delist from the Australian Securities Exchange (ASX) as part of its U.S.-focused transformation plan.

Cohen’s purchase of Bionomics shares coincided with the company’s announcement of positive topline results from its Phase 2b clinical trial on its lead drug candidate BCN210 for the treatment of PTSD. This trial, which has enrolled over 200 participants and will be conducted in multiple sites across the U.S. and U.K., has generated excitement within the biopharma industry.

On September 28th, Bionomics’ U.S. market shares experienced significant volatility, opening at $0.98 and reaching an opening price of $5.28. The shares eventually closed at $3.33. As of October 2nd, the shares are trading around $3.94. In the European market, the shares opened at $0.68 (€0.65), peaked at $6.44, and ended the day at $3.16. The closing price on October 2nd was $2.93.

Pipeline & Clinical Program

Bionomics is at the forefront of developing novel, small molecule ion channel modulators to address serious central nervous system (CNS) disorders with high unmet medical needs. The company focuses on negative allosteric modulators (NAMs) of the Ξ±7 receptor for the treatment of anxiety and stress-related disorders, as well as positive allosteric modulators (PAMs) for cognitive dysfunction.

The lead drug candidate, BNC210, is a late-stage Phase 2 development candidate for the treatment of Social Anxiety Disorder (SAD) and PTSD. Bionomics has received FDA Fast Track Designations for both indications, reflecting the potential of these therapies to address critical unmet needs in patient populations.

In addition to its internal pipeline, Bionomics is collaborating with EmpathBio on assessing the combined treatment of BNC210 with MDMA derivative EMP-01 for the treatment of PTSD. Furthermore, the company has partnered with Merck (MRK) to develop two Ξ±7 receptor PAM candidates for the cognitive deficit observed in Alzheimer’s disease.

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