Business Description:
Biota Holdings Limited (BTA) is an Australian-based anti-infective drug development company with expertise in discovering and commercializing treatment of respiratory diseases, particularly influenza.

Strategy Analysis:
Biota's strategy is to continue drug discovery and product development programs in antivirals, particularly respiratory antivirals, and to release shareholder value from the processes of discovery, product development and the early clinical phases of drug development. The company is focused on anti-infectives and has developed drug candidates for the treatment of influenza, respiratory syncytial virus, rhinovirus and hepatitis C infections. In the long run, BTA intends to increase the number of projects within the company´s portfolio and to extend selected products further into clinic. This should help to improve the overall risk balance within the portfolio. Biota reported a net loss of $28.09m for the year ended 30 June 2011. Revenues from ordinary activities were $14.61m, down 78% from the same period last year. Diluted EPS was (15.4) cents compared to 9.1 cents last year. The net operating cash outflow was $34.07m compared to an inflow of $42.62m in the pcp. No dividend was declared.