In case anyone is interested in what happened to Bionomics ($BNO), here's a rough run-down of what I recall. My memory is hazy on the dates (but I've prefaced it with "rough"!)
- They had a drug that could potentially treat PTSD and GAD (Generalised Anxiety Disorder).
- A clinical trial of a liquid version was unsuccessful.
- They re-analysed the data and found that for the average patient not enough of the drug was getting absorbed. For those patients where more of the drug was absorbed, there was a clinically meaningful effect.
- So they reworked the solution into a solid pill form of the drug that would probably work better.
- They cross-listed on the Nasdaq around this time.
- A new clinical trial... also unsuccessful. (I forget whether it was PTSD or GAD.)
- Delist in Australia and move to the US. After delisting shareholders could either sell their shares through the company, or arrange to have them converted to ADSs on the Nasdaq.
- Delisting happened on 28th August 2023.
I sold before the delist. (I should have sold immediately after the second unsuccessful clinical trial, but inertia took hold.