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LCT- Living Cell Tech
Hi All
This one is worth watching if your into Bio's
New to the ASX but not a new company. Started by a Kiwi in 1987
Anyone else interested in this one?
Cheers
Slam
Edit
Sorry all, dyslexic tiker code
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Hi All
These guys are doing well and alot of interest since listing
Got a buy recommendation in one of the independent research papers on Biotechs
IPO punters are being taken out and up 70% since listing.
Cheers
Slam
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Talking to myself here
Moving nicely and hitting 39.5c yesterday
double IPO in 1 month.
Look for a pullback to mid 30's and maybe an entry around there.
Cheers
Slam
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Cheers Miner
Sometimes it just all goes right[8D]
Slam
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Member
Have got a few. Some very smart people in LCTs Auckloand R&D facility. Rocky history but i am expecting big things from this stock. Very happy punter.
\"I hate to advocate drugs, alcohol, violence or insanity to anyone, but they\'ve always worked for me.\" Hunter S. Thompson
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Member
Crashed through the 40c mark yesterday to finish at 42c. Thats 110% gain since the IPO.
$1 here we come!
\"I hate to advocate drugs, alcohol, violence or insanity to anyone, but they\'ve always worked for me.\" Hunter S. Thompson
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Member
Biotech shares double in value
11.10.2004
By SIMON COLLINS
A spectacular debut on the Australian sharemarket by a small Auckland biotech company has made The Warehouse founder Stephen Tindall almost $3 million richer.
Living Cell Technologies (LCT), formerly known as Diatranz, listed on the ASX on September 1 at 20c. Since then the share price has soared to close at 42.5c on Friday.
Tindall, a founding investor in Diatranz in 1994 and still the biggest shareholder, has seen the value of his investment leap by A$2.77 million ($2.98 million) to $5.63 million.
LCT's second-biggest shareholder, chief executive and co-founder David Collinson, has also more than doubled the value of his 12 per cent holding to $4.4 million. At 42.5c, LCT's market capitalisation is now A$34 million, making it New Zealand's biggest listed biotech company ahead of Dunedin-based Botry-Zen ($14.3 million) and Blis ($13.6 million) and Auckland's Genesis Research and Development ($13.1 million).
Australia's embrace of the stock is a victory for a company that was refused permission by New Zealand's Ministry of Health three years ago to transplant insulin-producing cells from pigs into people with diabetes.
Diatranz medical director Dr Bob Elliott switched the trials to Mexico and announced in late 2001 that one of the 12 teenage diabetics who received the pig cells was able to stop taking insulin injections completely.
This year the company moved its head office to Adelaide and changed its name to LCT, but Collinson and about 25 of just over 30 staff remain in South Auckland.
It has established a US subsidiary, LCT BioPharma, staffed by three scientists lured from US-based Sertoli Technologies. They are using similar technology to transplant cells from pigs' brains into rats to reduce brain damage from strokes.
A US/NZ team has also transplanted cells from pigs' livers into the livers of haemophiliac mice to generate the blood-clotting agent Factor 8.
Collinson said the company had to become international to gain credibility. "If you stand up and present your results in Miami and say you are from New Zealand, you are regarded like someone coming from Fiji would be regarded here," he said.
"If someone who is American presents it, it gets promoted as if they invented it ... The Americans have had experience in cell therapy. When you combine them with us, you have a much improved team."
\"I hate to advocate drugs, alcohol, violence or insanity to anyone, but they\'ve always worked for me.\" Hunter S. Thompson
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