ASX-listed Rockeby Biomed – the latest biotech company to ride the wave of pandemic panic – has seen some interesting trading action lately.
The company’s managing director Sze Wee Tan and non-executive director Richard Casey both exhibited remarkably good timing buying 26,057,120 shares and 1,250,000 shares respectively, all at 1 cent, on 26 October – just under two weeks before the company’s share price soared to an intra-day high of 5.6 cents before closing up 3.2 cents – or 267% – at 4.4 cents, on the back of the 8 November announcement that it would launch two rapid tests for bird flu, under a marketing and distribution deal for the exclusive rights to the test in Asia Pacific, Europe and South Africa. Now that’s value for your investment.
Crikey contacted Rockeby’s Australian office for a comment on the trades, but is yet to hear back.
If you have any comments or interesting insights on Rockeby Biomed’s interesting trading practices, or any other company enjoying the biotech boom perhaps a little too much, email [email protected]
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