The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares

Join ShareProphets at less than 2p per article

> All the big AIM fraud exposés

> 300 articles and podcasts a month

> Hot share tips

> Original investigations by our experienced team

> No ads, no click-bait, no auto-play videos

Find out more

Premaitha - puts Swiss distributor Genoma into bankruptcy: BUY

By HotStockRockets | Saturday 13 May 2017

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.

The issue with Genoma was flagged up in the interims pre-Christmas. It owes Premaitha (NIPT) £750,000. That debt looks like a bad debt because the Swiss company has - despite its parent company concluding a fundraise - been having financial issues. So Premaitha has gone to court and had Genoma made bankrupt.

Premaitha says it will provide for that bad debt but it can now pursue various options for getting the cash or other assets back as settlement. Indeed Premaitha sees a silver lining, stating:

Furthermore, Premaitha believes Genoma's bankruptcy presents a commercial opportunity to sell to the sizeable NIPT customer base which had been built up in Switzerland and certain other European countries by Genoma when they were using the IONA® test from Premaitha, but which Genoma had recently been converting to their own in-house successor product. Premaitha will target these customers directly and through its recently expanded distribution network.

Additionally, Genoma's bankruptcy simplifies the ongoing UK intellectual property litigation against Premaitha as there will no longer be a parallel action in Switzerland.


Premaitha continues to build sales, but the big issue is the patent challenge from Illumina. We reckon that will go away and if it does these shares will fly. We may not be correct but that is our assessment and that is why we continue to rate the shares  - at 10.5p - as a buy.

This article first appeared on HotStockRockets, where two emergency share tips were published this week. For those, and to catch the next red hot share tips from the HotStockRockets team out shortly, for just £5 click HERE

Filed under:

Never miss a story.

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.

More on NIPT


Comments are turned off for this article.

Site by Everywhen