Petra Capital has initiated coverage of Alexium, page-4

According to this post on the Alexium Friends Facebook group two days ago, they are independent:

"Nicholas Clark (CEO)
9:58 AM (11 minutes ago)
to me
Hi Doug

Thanks for your email and a good question. I can confirm that there is another institution covering Alexium. We should expect to see the report on Tuesday after it is cleared with compliance. I will not advise as yet who they are out of courtesy.

About your question of it being independent or paid, I can confirm with you it is 100% independent. Alexium has not paid a single cent for the report to compiled. They traveled to SC in their free will and spent three days going through the business in detail. This is institution approach us having been watching us over the last year

I have seen the report that has gone to compliance, and I am most impressed. I have asked if we could follow up the report with a marketing road show (NOT CR, for some reason the conspiracy theorist’s out there, think ever road show is a CR on), especially with Dirk coming into the CEO role July 1. I also thought it a good idea to bring along Bob as he has never been out of the facility and he presents the chemistry well.

All in all, very impressive, and very happy, and very independent and thorough.

Hope that was able to answer your question.

Thanks
Nick"