XNOM was out with news on Friday after the close. I continued to be fascinated by the concept of Transrenal DNA and it’s potential applications.
XNOM filed a patent application in Italy for applications in both HIV and tuberculosis.
If you missed the introductory edition on this company and you have an interest in revolutionary new disease detection technologies, now would be a good time to give it a read.
http://www.otcjournal.com/archive/listserv/20050317-1.html
To read the specific press release on their patent filing, here’s your link:
http://biz.yahoo.com/bw/050401/15568.html?.v=1
As stated in the past, I believe it will take some time to develop an audience for this stock, so volume will continue to be thin.
However, the technology is far too exciting for the market to ignore this one for too long.
The stock seems to like this $2.50 level. Accumulate before the market learns about this one.
Comments and questions are welcome.
I tried buying shares of XNOM through Ameritrade but got an error msg. saying that opening transactions for this security are not accepted. Called a broker rep. and he said that as of 01/31/05 the stock can only be bought with physical certificates. My rep. had no explanation for this. Can you enlighten me?
Editor: This is a clerical problem, and the company is working on a solution with their transfer agent.
So far you haven’t mentioned the private placement XNOM did last July. Were you aware that they issued 2.6 million shares last summer at 95 cents per share? Even during the recent flurry of news and promotion, the volume for the last week has only been about 50,000 shares traded per day. Without the steady stream of info and promotion, the average volume is under 1500 shares per day. How well do you think the stock price will hold up once those privately placed shares become free trading?
Editor: I have no idea. Actually, your numbers are wrong. The company has split 2 for 1 since the placement. It’ s a pretty small amount of money for a biotech situation, but against the potential value of the technology it could amount to very little. However, I have been saying it is a very thinly traded stock with no trading history. Long term investors only. Neither you or I know if any of that will be for sale or how much volume the stock will be trading by then. Clearly, there was no volume when those investors put the money in. It’s a technical risk factor, and if it concerns you, don’t buy the stock. FYI- there are also 4 million shares with an indeterminetly low cost basis which could be sold right now.
I tried buying shares of XNOM through Ameritrade but got an error saying that opening transactions for that particular stock could not be accepted. I spoke with a rep at Ameritrade and he said that as of 01/31/05, XNOM was only trading in physical certificates. The rep had no explanation for this. Can you enlighten me?
Editor: The company is looking into the problem.
I had no trouble buying this stock through scottrade. (XNOM) Wally
Editor: The only one I’ve heard consistent problems about is DSEN with regard to being denied purchases. Some of the firms have inaccurate information about that one. Thanks for your contribution.
hi, time to buy some XNOM? yves
Editor: Seems like it wants to trade up after the summer. Great technology.