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.