In brief: Uscom, Antisense, Gropep, Bresagen

Sydney's Uscom (ASX:UCM) has responded to ASX's 'please explain' as to why its shares dropped from $1.40 on 10 May to a low of $1.00 on 17 May.

Uscom company secretary Paul Butler said the company was not aware of any information that has not been announced which could explain the drop in share price, however its operating loss will be more than 15 per cent greater than last financial year.

"This is in line with the cash requirement outlined in our prospectus dated 6 November 2003 and is in line with the trend information that we have provided in our quarterly Commitments Test Entity Reports," wrote Butler.

At the end of the March 2005 quarter, Uscom had $11m in cash.

Antisense (ASX:ANP) has established a medical advisory board to provide advice on its lead candidated ATL1002. The Phase IIa trial of ATL1002 was halted in March following the withdrawal of multiple sclerosis drug Tysabri, which target the same VLA-4 protein

Adelaide Research and Innovation (ARI), the commercialisation arm of the University of Adelaide, is no longer a substantial shareholder in Bresagen (ASX:BGN).

ARI now holds 4.75 per cent of Bresagen, down from 6.5 per cent.

The Australian Technology Innovation Fund recently stepped into the gap, becaming a substantial shareholder in Bresagen with a 6.7 per cent holding.

ARI has also sold shares in Gropep (ASX:GRO) and now holds 6.55 per cent of the company, down from 8.04 per cent.