Shares in Australian biotechnology company Biotron have surged following the announcement of favourable results in a clinical trial for a treatment it has developed for patients with the hepatitis C virus. The announcement was made to the market on Tuesday, with the share price gaining nearly 60 per cent in value. The ultra small-cap biotech sector is hugely volatile, as the fortunes of the company are hitched to the results of scientific studies and placement of drugs on government subsidised medication lists. Bell Potter’s Stuart Roberts is the only analyst who covers the stock, according to Bloomberg. Roberts has a “buy" recommendation on the stock. He maintained a price target of 40¢ in response to the study and said the company was well managed by managing director Michelle Miller. As well as hepatitis C, Biotron has a focus on antiviral therapeutics that target HIV-1. Biotron has a market cap of $32 million.