Surge in Blis shares
Dunedin firm Blis Technology says another research report supports the effectiveness of its main product, a throat probiotic.
The biotechnology firm made the statement yesterday, a day after a query from the NZX about its share price almost tripling since December 21. Chief executive Barry Richardson said "no" when asked if the report was responsible for the share price rise.
"You would need to be very good, in fact you would have to be exceptional tracking this thing through scientific publications to find that."
Richardson said the report was not financially material to the business, but the benefits associated with it would come at a later stage.
Blis said on Thursday the 173 per cent rise in its share price may have been due to shareholders buying more shares after the company announced on December 21 it would require shareholders to hold at least 25,000 shares and they had three months to comply. About 1600 shareholders are affected.
"Due to the relative lack of liquidity in the market for Blis shares, shareholders who are seeking to top up their holdings may have influenced the market price."
The share price was trading at 3 cents on Thursday when the NZX made public its query, 1.9c higher than the 1.1c price on December 21. Yesterday it closed at 2.2c, 15 per cent down.
Blis said yesterday a new research report, published this month, provided further support for the effectiveness of the BLIS K12 oral cavity probiotic for preventing ear and throat infections.
It was published in the medical science journal, Expert Opinion on Biological Therapy. An Italian research team had demonstrated that the probiotic could prevent the recurrence of common ear and throat infections.
The study followed 40 adults with a history of recurrent ear and throat infection and examined the effect of 90 days of treatment with either the BLIS K12 probiotic or a placebo.
Researchers concluded: "The regular use of BLIS K12 appears to have effected a substantial reduction in the incidence of recurrent oral streptococcal pathology, reducing the requirement for these BLIS K12-treated individuals to be exposed to therapeutic courses of antibiotics."
Blis said that paper had been published two months after a similar research paper which also concluded that regular use of BLIS K12 in children could reduce the incidence of strep throat infection, including tonsillitis, by more than 92 per cent.