SLT 0.00% 0.7¢ select exploration limited

for all to see!!!!!!!!!!!

  1. 5,609 Posts.
    It looks like this announcement increased the market cap of PBO by approx $10m.

    Its also worth remembering that SLT would probably out do that deal and have Hep C coming along behind it.

    This deal was SLT's market cap. We are still looking cheap.

    Plenty of buyers prepared to sit back and soak up.

    All Aboard!!!!!!!!!!!!!!!!!!


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    PBO - Panbio gets FDA clearance for West Nile virus test 1/1

    PBO - Company Announcement
    $gen0
    9 July 2003
    Part 1/1
    --------

    Panbio gets FDA clearance for West Nile virus test

    Sydney - Wednesday - July 9: (RWE) - Panbio Ltd has received US
    Food and Drug Administration clearance for an immunoassay diagnostic kit
    to test patients for West Nile virus disease.

    Panbio chief executive Mr Jim Porter said FDA clearance for the
    diagnostic kit gave the company a "first-to-market" advantage and was
    expected to boost sales revenue during the next 12 months by between
    $1.5 to $2 million, in line with the company's forecast.

    Mr Porter said the company had restructured its cost base,
    rationalised its product range, expanded its US sales capability and
    positioned itself for the launch of the WNV product to ensure the
    company reached profitability this financial year and created
    significant growth over the next three years.

    "This announcement has far-reaching impact for US health
    authorities faced with the possibility of increasing outbreaks of WNV
    related to the unusually wet spring."

    Mr Porter said Panbio's kit was a major breakthrough which would
    play a pivotal role in the early detection of WNV antibodies in people
    with suspected symptoms of the potentially fatal disease.

    He said the performance of the new kit had been proven in recent
    clinical trials and had the advantage of providing results faster than
    existing methods.

    "FDA clearance of the new diagnostic kit is important because it
    will broaden the base of testing allowing clinical laboratories across
    the country to test for the disease.

    "Now any accredited laboratory can buy the diagnostic kit and
    significantly streamline the process of analysis and reporting which
    will facilitate rapid reporting back to the medical practitioner and
    patient," Mr Porter said.

    Shares in Panbio last traded at 80c.
    Its finished trading yesterday over $1 per share.

    Total Shares on Issue 51,310,644 Market Capitalisation ($) - Current $51,823,751 Asset Backing ($)(Net Tangible Assets) 0.00 Price / NTA 0.00 Earning Per Share EPS ($) -0.0131 EPS Growth 0.00% PE Ratio - Current -77.0992 Can be short sold No
 
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