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By HotStockRockets | Friday 11 March 2016
Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Tom Winnifrith was an insider which restricted him from explaining why shares in Premaitha (NIPT) have been weak of late. Now you can see. The company's largest shareholder Rupert Lywood is a total 100% prat and for the second time dribbled out stock so crashing the price forcing the company to take a big block off him. He cut off his nose to spite himself and so offloaded 25 million shares at just 8p. Directors including Adam Reynolds took shares and Lywood's remaining 30 million shares are locked up for at least 6 months. The guy is a tool - who needs to fund other ventures and this is his only liquid counter - for other shareholders this is a pain.
On Monday FinnCap was appointed as new joint broker. It helped place the stock.
Existing broker Panmure did not/could not and with its pitiful research is just a waste of space. FinnCap cannot be more useless and we must hope that it now starts publishing notes and getting more institutional interest. We see this as a positive move.
Ultimately who owns what shares and what broker says what is irrelevant. It is delivery that matters and so on 9 March we also learned that GeNext had signed up to market the IONA test in Russia.
The agreement with GeNext, a company dedicated to providing high quality molecular diagnostic products, will open up a key new market for Premaitha. Due to its highly accurate detection, the IONA® test significantly reduces the number of women who are unnecessarily subjected to risky, invasive follow-up procedures to diagnose Down's syndrome and other genetic conditions. There are approximately two million pregnancies per annum in Russia, and this agreement with GeNext will enable these women to access non-invasive prenatal testing ('NIPT') through the IONA® test.
As part of the agreement, GeNext will establish a central laboratory to act as a regional hub to process samples. In the interim period, GeNext will send samples to Premaitha's Manchester laboratory to be processed.
This could well be material. It is in a territory where there are no patent challenges from the bully boys at Illumina and let's hope that sales start to rack up quickly. We expect more contracts soon and with the Lywood episode having depressed the stock it will now bounce, average down and buy at a 10.25p offer.
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