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ResApp Health director buys 1,000,000 shares on-market

ResApp director buys on the dip to support the stock.
ResApp is a digital health company

ResApp Health Ltd's (ASX:RAP) non-executive director, Chris Ntoumenopoulos, has thrown his support behind the company by purchasing one million shares on-market for a consideration of $72,821.92.

The timing was perfect for Ntoumenopoulos, as ResApp's shares closed at $0.10 yesterday, delivering a circa $27,000 paper profit.

Ntoumenopoulos now holds over 3.1 million shares, and two lines of director incentive options.

ResApp shares ride roller-coaster

Share in ResApp may have closed at $0.10 yesterday, but they swung wildly in a range from $0.068 and $0.12, following investors digesting the preliminary top-line results from the SMARTCOUGH-C Study.

Preliminary analysis of study data shows predefined endpoints for positive percent agreement and negative percent agreement with clinical diagnosis are unlikely to be met for pneumonia, croup, URTI, LRTD, asthma/RAD and bronchiolitis.

The company though said it intends to continue its Australian adult program in parallel and initiate a U.S. adult clinical study this US winter.

Prior to the news reaching the market, ResApp was trading above $0.30 per share.

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