Looking for constructive input in an analysis of PXL: I bought a few yesterday. Partly on the back of Stephen Porges being CEO Partly on the suggestion that a fairly high profile and successful analyst is keen. Partly on the graph –and Partly on the fundamentals.
I admit: Volume and price action is far from convincing. It could easily break either way - and Sellers heavily out number buyers: Sell 778,000 / Buy 188,000. But: It is getting squeezed into a trading range between 28.5 cents and 31 cents. And still for last 2 months has rarely slipped below 29 cents --- So it would seem that buyers may be coming in from off screen to take 29c sales.
The info below is just cut and paste from company info:
AGM Presentation as @ 17th Nov 2006: *160 million shares -- Current price 0.31 -- Mkt Cap: A$48 mill. * Cash position: A$9 million Sufficient for 12-24 months. (Grant and deal dependant) * Global partners with leadership in chosen diseases * Lead diagnostic programmes – Point of Care detection of active TB infection Early stage diagnostic for cancer (Prostate) Novel diagnostics for neurodegenerative disease *Royalty driven Diagnostic platform. *Lead therapeutic programmes – Topical drug treatment for skin conditions Injectable for systemic treatment of radiation damage Orally bio-available drugs for Parkinson's disease.
Cash: As @ 31 Dec 06: $6.9 million.
Management: (among others) Stephen Porges: (Chief Executive Officer) – Currently Porges is also Chairman of Hyro (HYO) -- spent the last 20 years in international investment banking. The last 7 years have been in New York, most recently as Managing Director and Head of Equity Sales and Relationship Management for HSBC Investment Bank.
PXL Price at posting:
0.0¢ Sentiment: None Disclosure: Held