The last two announcements are very positive. It means our CSO, Professor Said Sebti is at the cutting edge of research is very actively involved in a wide range of programmes and his work is being looked at closely and is being included(referenced) in other publications by other researchers, ie a respected authority.
In practical terms. one would think the programmes are well known for their excellence to bio tech fund managers and Professor Sebti in particular. No doubt it will build our profile more and the early success we have had, should help with future funding, especially if it is sourced in the US.
The patents are also an indication that there is potential and confidence in the line of research being pursued and if eventual success occurs then it becomes very valuable to our share price.
In terms of the top 20 shareholders there has been a lot of changes listed in the latest annual report. There are many reasons why this occurred but it has given rise to a buying opportunity that I think with patience could result an appreciation of the SP greatly. Currently there are 115 shareholders holding 100,000 or more and the top 20 hold 23 million. If for example and I could be way off, the other 95 shareholders held an average of 200000 that would be 19 million with a combined total of 42million in the hands of 119 shareholders, leaving 13 million for the rest. The weekly turnovers have previous to last week totalled over 4 million, last week was extremely low and this week the same.If the selling has largely finished then the buyers will have to be very patient or buy by stealth, and it may not need much for the SP to trade higher.
The Edison report suggested that their future funding needs could be $6 million but I am confident that it will be handled in the future with shareholders in mind as Paul Hooper has 15% of the company and he will call the shots.
In essence it has highly credentialed people at the research level which is necessary to achieve the right result and a successful and experienced board. PTX could perform with good announcements against the general market direction.
PTX Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
