Avacta is a Biotech company that is progressing a protein technology for the development of therapeutics, diagnostic tests and research reagents. The technology represents an opportunity and a radical alternative to the established antibody technology which dominates the Life Science industry.
As a public company we wanted to inform the market of our progress, through news flow. There is broker research of course, but it is not distributed to the non-institutional/retail market. We needed someone that could write informed research to the same institutional quality, and distribute it to a wider audience. Our trading volume is relatively small, and attracting retail investors can have a positive impact on the share price.
Dr Martin Hall, the analyst is very good. He has real credibility in the life sciences sector. It helped that we liked him, and he writes very well. We needed
a quality product that had a decent degree of distribution, and Hardman & Co fitted the bill.
Since we became a client of Hardman & Co in November 2015 there has been a regular output from them. After the main initial assessment, there
has been commentary and updating at all prelims and interims. They have also delivered substantial news flow, and recently run a campaign to educate the market on the data that has been coming out.
The share price has gone down!! But that is in line with the sector, and is the nature of the current market. We are in fact very pleased with what they have done. The research notes and distribution are very good, and we are very comfortable with the fact that we are known and understood by a wider audience.