Phosphagenics In Red With News Release On Change Of Directorship

  • Dec 24, 2018 AEDT
  • Team Kalkine
Phosphagenics In Red With News Release On Change Of Directorship

Phosphagenics Limited (ASX: POH) is a research-based biotechnology company and into the pharmaceutical sector. The company develops and commercialize health care and personal care products. It has a proprietary drug delivery system called Tocopheryl Phosphate Mixture through which it commercializes its products. The company got listed in 1993 by the name of Greenchip Development Capital. After it moved towards the biotech sector, the name of the company changed to Phosphagenics Limited in the year 2004.

The company is into the discovery and development of new avenues to increase the effectiveness of proven pharmaceutical, consumer and animal health products. Targeted Penetration Matrix is one of the unique drug delivery system that the company has. It has developed unique products that no other company did.  

The scientists of the company have focused on understanding and optimization of TPM. They have a strong global patent portfolio, and it achieved multiple success across industries. This has enabled the company to grow continuously and achieve further success. The process of the company from production to clinical development to marketing requires, focus on progressing therapeutic products that improve human and animal health.

Recently, the company has announced about its new appointment of director and joint company secretaries. Ms. Melanie Leydin has been appointed as the company secretary and CEO of the company, and Michael Sapountzis is appointed as the joint secretary of the company. It also announced recently about settling all claims associated with arbitration with Mylan Laboratories.

Leydin has experience in the accounting profession for approximately twenty-five years and has experience as a company secretary for over thirteen years for companies listed in ASX. She is a chartered accountant and a registered auditor of the companies. She has experience in various domains including compliance, control, implementation of corporate governance, statutory financial reporting shareholder’s relationship, etc.

Sapountzis, however, is into governance, with his vast experience in regulatory requirements and providing executive support to various companies that are listed in ASX. Leydin and Sapountzis have replaced Ms. Anna Legg who has resigned as company secretary and CFO. Following this news, the share price of the company has decreased by 16.667% on December 24, 2018.

The company, total revenue stood at $0.82 million in half year ended June 2018 as compared to $0.81 in the previous corresponding period. The net loss stood at $1.84 million for the half-yearly period of 2018 as compared to $4.18 million as compared to the previous corresponding period.  The total assets for the half-yearly period of 2018 remained at $6.812 million as compared to $8.239 million in the last corresponding period.

Let us now quickly analyze the performance of POH’s stock and the returns it has produced over the past few months. The stock price of POH ended the session on the negative note. The stock price settled at A$0.005 per share with the market capitalization of circa $9.46 Mn. The company’s stock price has been trading towards the lower range. The stock has a 52-week high price of $0.033 and a 52-week low of $0.002.


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