ASX enforces draft biotech code

"The Australian Stock Exchange appears to have toughened its stance on announcements from the biotechnology sector, with at least one company being asked to water down comments about a new licensing deal.

Prima BioMed was yesterday delayed from releasing a statement to the market because it was told by an ASX officer that information provided about the value of the deal did not comply with an industry code of conduct for reporting.

The code, developed by the exchange in conjunction with industry peak body AusBiotech, is still in draft form and companies have no legal obligation to follow it."

From www.theage.com.au.