And if you are new to Agenix as I am this is a thorough write up of what you have missed as an investor in this company over the past 13 years..
"Beginning around May 2003, the company's share price started increasing and this continued throughout the year with maintenance of value after September, when the prices of other small companies fell.
There was a further steady increase in price from February 2004 and this culminated in the announcement of a proposed merger with Peptech Ltd. Following the announcement, share prices fell over 20% and shares continued down when the merger did not proceed despite an attempt to talk up the market with forecasts for ThromboView.
Shares fell 47% in 2005, partly associated with fund raising, and a further 48% in 2006. There was some stabilisation in 2007 then growth with speculation on a Chinese acquisition (up 67%).
The market cap in 2008 was $8 million with fund raising, animal and human health asset sales and sale, re-lease of premises to assist ThromboView development and the acquisition of a Chinese company.
The outlook of the company was uncertain with lack of shareholder support as indicated by a 40% drop in 2006 but there was a 100% speculative rise in 2007 (up 26% by end of the year but down 90% in 2008).
An honest reappraisal by the company of its Thromboview strategy offered some hope for the future although the advent of a new shareholder was forcing eventual divestment of this project into a US-based vehicle. The acquisition of a private Chinese biopharmaceutical company offered some new blue sky although there were also significant risks associated with this strategy as indicated by lack of movement on finalisation of Chinese acquisition which has led to price fall, removal of Chinese executives and resignation of Chairman and two directors. This was not helped by successful litigation against former Managing Director.
Shares were suspended and it appeared that problems in China were settled, year end financials could be completed and trading resumed some time in 2009. However in early 2009, sufficient funds for the arrangement were not obtained and the arrangement lapsed with a further renegotiation and initial payments offering hope for eventual resolution. This was not successful and the agreement with China has lapsed with departure of Managing Director and appointment of Executive Chairman. End of year financials were completed with relisting in September 2010 and recovery of funds from China.
Relisting associated with 41% increase to market cap of $18 million in 2010 and agreement to develop hepatitis therapeutic. There was further recovery of funds leading to a temporary increase in 2011 (eventually down 50% at $9 million). Line of funding obtained in 2012 but shares dipped 75% to company value of $3 million with the most recent fall appearing to coincide with launch of social media campaign by company.
Company renewed portfolio and consolidated shares 25 to 1 which was followed by a further dip in prices (down 92% to $1 million). There was a 65% lift early in 2013 prior to a rights issue which brought the price back to that of the beginning of the year (eventually down 22% in 2013 with company value at $2 million).
There was a 56% recovery in 2014 due to speculation and once this passed, stocks were down 22% with company value at $2 million following sale of IP to Chinese company and completion of acquisition of licence from Tyrian Diagnostics.
Shares even in 2015 with company value of $2 million with Chinese announcing that they would not be taking up Thromboview® technology but there was a recovery with announcement of repatriation of funds from China (up 43% at $3 million by year end).
There has been a 20% decline in 2016 to $3 million with an agreement for acquisition of shares in CCP Holdings, an apparent reverse take over of an internet communications company signalling an exit from biotechnology." (29/4/16)
So now we are up to speed!!!![]()
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Open | High | Low | Value | Volume |
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