ASX Questions Bio-Gene’s Disclosure Timing Amid Flavocide Announcement
Bio-Gene Technology Limited has addressed ASX concerns over the timing of its announcement on promising Flavocide efficacy data, confirming compliance with continuous disclosure rules after receiving final presentation materials from Purdue University.
- Flavocide efficacy results presented at international tick-borne diseases conference
- Bio-Gene received final presentation from Purdue University only on 23 September 2025
- Announcement led to an 87% share price surge post-release
- Bio-Gene confirms compliance with ASX Listing Rule 3.1 on continuous disclosure
- Multiple requests made to Purdue University for final presentation prior to announcement
Background to the Announcement
Bio-Gene Technology Limited (ASX – BGT) recently found itself under the regulatory spotlight following its announcement of positive efficacy results for its acaricide product, Flavocide®. The data, presented by researchers from Purdue University at the 17th International Conference on Lyme Borreliosis and Other Tick-Borne Diseases in Chicago, showed that Flavocide achieved over 90% mortality of problematic ticks within 24 hours and demonstrated residual activity lasting up to four weeks under laboratory conditions.
However, the timing of Bio-Gene’s market announcement on 23 September 2025 prompted an ASX query, given the presentation occurred earlier in the month. Bio-Gene responded with a detailed timeline explaining that it only received the final version of the presentation slides from Purdue University on the morning of 23 September, despite multiple requests made since early September.
Navigating Disclosure Obligations
Bio-Gene emphasized that it did not have access to the final and complete presentation prior to 23 September and therefore could not have disclosed the information earlier. The company confirmed that it considered the data market-sensitive and that the obligation to disclose arose only once the information was sufficiently definite and complete. This stance aligns with ASX Listing Rule 3.1, which mandates immediate disclosure of material information but allows for exceptions when information is incomplete or confidential.
The ASX noted the significant market reaction following the announcement, with Bio-Gene’s share price jumping 87% from $0.033 to a high of $0.058. This underscores the material impact of the Flavocide efficacy results on investor sentiment and the company’s valuation.
Implications and Next Steps
Bio-Gene’s handling of the disclosure highlights the challenges biotech companies face when relying on third-party research institutions for critical data. The delay in receiving final presentation materials from Purdue University created a narrow window for timely market communication. Going forward, investors will be watching closely for further updates on Flavocide’s development and commercial prospects, as well as any additional data releases that could influence Bio-Gene’s trajectory.
Meanwhile, the ASX’s scrutiny serves as a reminder of the importance of robust continuous disclosure practices, especially in sectors where scientific data can rapidly shift market valuations.
Bottom Line?
Bio-Gene’s next disclosures on Flavocide will be pivotal in sustaining investor confidence and validating the initial market enthusiasm.
Questions in the middle?
- Will Bio-Gene secure more definitive data to support Flavocide’s commercial viability?
- How will Purdue University’s role and timing in data dissemination evolve in future collaborations?
- Could regulatory scrutiny intensify around disclosure timing for biotech companies reliant on external research?
