The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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The July financials and outlook that comes with them just got a whole lot juicier and exciting.
There will be so much to add to the outlook statement now.
CE mark inbound also. Who's gonna get of the train here, except traders, whom we might be attracted to us a bit more now.
Pacman,
yes, RL keep his cards close to his chest . It's a good thing he does though as we get a straight shooting update every time.
To be honest, there is probably 3 RNS's worth of info in this one rns.
I keep re-reading it.
Bit at the end where LR states he looks forward to updating us on the pipeline of new products in development. This covid test ain't going to be a one trick pony. It's a whole new infectious disease division. Labs, clinics, sales, marketing all ready in place around the world. Brilliant
Excellent news and with an expected second wave of Covid 19 in the winter it gives us a great additional revenue on top of guns blazing business we already have. Top stuff.
Some great news, Been waiting for something that will get this SP going. Let's hope we can move up for good this time.
well developing there own test that's a curve ball, confident of ce next mint all looking rosy massive couple of months coming up for us
Yourgene Health plc
("Yourgene" or the "Company")
Yourgene COVID-19 testing service launch and business update
Manchester, UK - 26 May 2020: Yourgene (AIM: YGEN), a leading international molecular diagnostics group, announces it has expanded its laboratory capabilities to offer COVID-19 testing service and it is developing its own COVID-19 test kit and targeting a pipeline of opportunities. In addition, the Company provides an update on its wider business activities.
Yourgene testing laboratories have now launched a COVID-19 testing service. This service will support private testing demand where there are defined testing populations such as UK GP surgeries, private clinics and other corporate clients across UK. The Company will provide further updates in due course.
Furthermore, the Company announces that it is currently developing its first infectious disease test called Clarigene™ SARS-CoV-2 test - a molecular PCR based COVID-19 assay, which is able to detect whether individuals are currently infected. The Clarigene™ SARS-CoV-2 test has produced preliminary data, which the Directors believe show competitive performance compared to other market leading products, and also has a rapid turnaround time and low false negative results.
The Company aims to release a "Research Use Only" version of Clarigene™ SARS-CoV-2 test by the end of June 2020 and a CE marked in vitro diagnostic kit to follow in July 2020. The test will initially be a manual assay and development has commenced with a fully automated version aimed at high throughput laboratories to follow in the coming months.
Yourgene already has over 300 laboratory customers and a growing global network of distribution channels in place through which to drive sales of the new Clarigene infectious disease portfolio of products. In addition, the test will be run in the Yourgene service laboratory once it is launched as a CE IVD kit.
The Company continues to explore additional opportunities to expand its contribution to global COVID-19 testing efforts with increased usage of its state-of-the-art manufacturing facility at Citylabs in Manchester, as well as exploring additional routes to market.
Given this is a new product in a fast-developing market, demand and uptake is difficult to forecast. Further guidance will be given in due course.
The core molecular diagnostics business continues to perform in line with management expectations and remains on track to build on the strong year end performance announced in the trading update for the year ended 31 March 2020. The Company remains confident of receiving CE marking for its Illumina-based IONA® test in the near future and has been informed that the product has now been recommended for approval and is in the final stages of evaluation.
Yourgene will announce results for the year ended 31 March 2020 by mid-July and will provide details of the confirmed date in due course.
Lyn Rees, CEO of Yourgene, commented: