Health: Chicken meat gets a boost as Zoono kills bugs in the coop; shares up again
Health & Biotech
Health & Biotech
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Shares in bug killing biotech Zoono (ASX:ZNO) were up another 35 per cent this morning following successful trials of its antimicrobial product in chicken farm.
Results showed that pathogen levels inside a shed treated with Zoono’s Z71 Microbe Shield (ZPP) were 87 per cent lower than an untreated shed, and that the average bird weighed 60 grams more despite eating 10 per cent less food.
That pushed shares to a high of 21c, their highest point in more than a year. It continued a stellar week for the small cap company, which rocketed 99 per cent yesterday after receiving a purchase order for $33 million worth of ZPP.
The chicken coop news came after the market closed yesterday. Since closing at 7.8c on Friday ZNO shares have gained 169 per cent and more than $21 million has been added to the company’s market cap.
The Z Factor is now reportedly in discussions with “major poultry brands” across New Zealand, Australia, the UK and Asia and is expecting to start selling ZPP within the next quarter.
“The results were conclusive. ZPP can maintain its efficacy over an extended period,” the company said. “Further, ZPP is non-toxic and environmentally friendly; in stark contrast to traditional sanitation products used within the industry.
Am I the only person wondering why this chicken is so damn big 🤔🤔🤔 pic.twitter.com/ZIWmEL2h2w
— LifesBook_Ceo (@LifesBook_Ceo) March 19, 2017
“Mr. Kevin Storey, General Manager, The Z Factor, is confident that, with global pressure mounting on the industry to reduce the need for antibiotics, the timing of ZPP’s launch could not be better.”
Mayne Pharma (ASX:MYX) is struggling to sell its pharma products. Experiencing “additional competition on key generic products and generic market trading pressures” for the four months to April, Mayne Pharma shares fell 16pc to six-year lows of 56c. But its revenue and profit are tracking upwards compared with FY18.
Race Oncology (ASX:RAC) shares jump 84 per cent on Israel news. Race will be conducting a Phase II trial of its drug Bisantrene in patients with relapsed/refractory acute myelogenous leukemia in Israel, the first such trial in a quarter of a century. Bisantrene is an old chemotherapy drug Race is repurposing.
Wattle Health’s (ASX:WHA) spray drier is on track as Bubs (ASX:BUB) hits turbulence. Corio Bay Dairy Group, a Wattle Health joint venture, is on track to finish building a spray drier — a machine capable of turning liquid dairy into powder — by next month. It’s shares were stagnant. Bubs Australia, meanwhile, dropped 9 per cent in early trade to $1.12 on no news.