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I stopped topping up at £1.55 if you want to talk bad timing. Well under water and relying on them actually selling some of their little beads, just to show the market they are commercially viable!
On the plus side they should be fully funded and have a 4x lower m/c than NYCT
When the company did the placing they must have understood the approvals landscape and the roadmap for their product. The 80p placing was as agreed by most a shocking discount but I accept it was arranged in a time when the share price was rapidly shooting up so it was slightly out of sync. However with db suggesting first sales in june and the 80p placing it is not unfair to have expectations that sales would start fairly quickly. Instead it has just been radio silence rns wise and the shareholders have worked out through their work that there are no immediate sales. The share holders has a right to feel gdr need to pick up the ball and work on their pr. Its poor management, giving out expectations that actually could not be met.
Sp was 160p 3 weeks ago, it's already close to halving!
@strongboes....you got you wish BUY BUY BUY
Damn this is frustrating, just being honest...looks like sub 100p soon...and I topped up earlier this week, badly timed.
It's a bit like a goldfish bowl in here, in a couple of months time this will all be forgotten. I've freed up a good chunk of change for any drop this week.
The next RNS should be the Trading Update, which to my mind should be this week.
Why are you pushing for an rns without substantial news or explaining any delay? A communicated delay would half the sp. It is obvious that regulatory delay is not something you can pin point to a date it all depends on their review process.
Next rns should be an approval or orders news, anything but substantial.
“Makes you wonder why they so quickly did the placing at 80p to raise 8 million. They could have done it later at a higher price and we'd still have no sales but less damage to the share price. Great product, poor management.”
Really? You are criticising the inability of GDR to read into the future? Yes, I imagine in hindsight they might have done things differently.
Yep heard that. Just disappointing all the same. Launch in May has turned out to be a false dawn! You would think an RNS to update on the progress is needed. Silence is deafening.
@blustington, last week we were told the IMCR/DCGI testing centre had issues with their equipment and this caused a delay in getting the data out. It's not a paper exercise, they have to perform a small trial in-country to show performance against another comparable test.
The FDA/WHO approvals take weeks upon weeks. Im sure there is a plethora of companies seeking this approval
We just need to be patient and sit tight, when the news comes we wont remember this period
Fortune favours the patient investor...
@ST I agree, things are lined up ready for approvals and DB waiting as long as he can to finalise them, until the approvals are in the agreements are not necessarily notifiable.
@older, I agree too, we are now in a waiting game and things will come good. Interestingly AVCT and ODX will have the same regulatory hurdles once they have products that can enter that process... We will get there shortly.
Why not apply for IMCR in May? It would be done by now and we'd be selling already!
Yes but what about the NHS for example, they have connections?
I'm still here, with more shares than ever before, so pls don't take my post as a de-ramp. It's just frustration that we haven't progressed as quickly as I had hoped, or expected. But nothing has changed with the technology or science or reputation here, amongst the folk that matter. Patience required. Lots of it!
Delays aren’t great, but that’s all they are. They’re not going to pop up and say they’ve changed their mind. It’s currently out of their hands, we’ve learned that they’re waiting on approvals that will unlock sales and while they wait they’ll be looking to secure more. O&W, that’s a good reminder that they have the ability for high throughput manufacturing, that is ISO registered, and they have the supply chain sorted. They’ve taken on an additional member of staff to help with registrations. It’s an annoying wait, but based on that info there’s £50-60m in revenue sat waiting to be cashed. Just for starters.
Yes getting late to the party here!
Have to agree. Delivery isn't matching expectations. Here is what GDR said at the May 5th placing rns:
"On 20 April 2020, genedrive announced that it had entered into a development agreement with Cytiva (formerly GE Healthcare Life Sciences) to allow for high throughput manufacturing of over 10,000 tests per hour. genedrive has also secured sufficient supply chain commitments for the most critical components to enable the manufacturing of six million tests. The Company anticipates launching the Genedrive® 96-SARS-CoV-2 in May 2020 at an estimated price of £8-10 per test."
I disagree TB, nobody knows where this crazy world is heading or what markets are going to do, £8m was not an insignificant raise and to strike whilst they could was I think the right thing to do. COVID share prices were rising wildly at that time and have settled since. You can’t predict these things, anyone who says they can should be multi billionaire. We are well funded to ride any financial storm, we have money for development and commercialisation. Share price will come good as market cap grows with the value over coming weeks, months and years. As I said in my earlier post, this is for the sophisticated shareholder not the day trader.
I think we would all love some RNS right about now
Come on DB! Hype isn't always a bad thing..!
Hello TB, hope your keeping well.
I think GDR are right in the window of opportunity for an update, 8 days since month and half year close, end of this week or next would seem likely to report sales.
GLA
Cannot see any RNS this week for sales coming out. Makes you wonder why they so quickly did the placing at 80p to raise 8 million. They could have done it later at a higher price and we'd still have no sales but less damage to the share price. Great product, poor management.
The same notified body would be involved in the recent iso13485 accreditation so circumstantial we know the WHO process should be underway. RNS today was my prediction but yesterday’s information suggests we may still be a week off that. A lot going on, a lot of news will come, this is the sophisticated investors COVID play in my opinion
Thanks for posting Jimmybob