Tuesday, September 05, 2006

Kopp Investment Advisors Raises Stake in Transgenomic (TBIO) to 22.7%

In an amended 13D filing with the SEC on Transgenomic Inc. (Nasdaq: TBIO), Kopp Investment Advisors and related parties disclosed a 22.7% stake (11.15 million shares) in the company, which is up from the 21.6% stake the firm disclosed in a prior 13D filing.

The firm did not change the statement in the 'Purpose of Transaction' of the filing, noting they acquired the shares in pursuit of its investment objective of long term capital appreciation.

In the filing, Kopp disclosed 52 buy and sell transactions from 06/27-08/24.

Transgenomic recently begin trading on the Nasdaq Capital Market after transferring its listing from the Nasdaq Global Market after failing to meet the $1.00 per share minimum bid requirement. After meeting the criteria to list on the Nasdaq Capital Market, Nasdaq provided the Company with an additional 180 calendar day period, or until February 12, 2007, to regain compliance with the $1.00 per share minimum requirement.

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