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#VRCI
Although investors probably haven’t yet fully appreciated the upside offered by Verici Dx’s suite of clinically validated kidney transplant blood tests. It certainly appears the medical world is now waking up to the advantages of using these next generation immunodiagnostics.
In fact, hot on the heels of signing a global licensing partnership with healthcare giant Thermo Fisher Scientific (Mrkcap $200bn) in Nov'23 for Clarava, a 1st-in-class pre-transplant prognostic.
The company today said that the US Centers for Medicare & Medicaid Services (CMS) had confirmed a gap-fill price of $2,650 for both Tutivia (post-transplant test) & Clarava effective from 1st January 2024.
To me, this is a very encouraging step toward securing full reimbursement by Medicare, a national health insurance program covering 63.9m people. Indeed intuitively, if Medicare wasn’t planning to pay for these tests, then why would they waste the time/resource approving the price?
CEO Sara Barrington: "We are pleased that the pricing for both Tutivia and Clarava has been finalised at the proposed rates. This is another important milestone in our strategy to develop and commercialise a complementary suite of ground-breaking products that offer end-to-end testing for kidney transplant patients and their clinicians."
Elsewhere Verici Dx has also announced that its CLIA certified laboratory in Franklin (Tennessee, US) has been accredited by the internationally recognised College of American Pathology (CAP) following the completion of an on-site audit.
CAP accreditation is a hallmark of quality and excellence in clinical laboratory services and adds to #VRCI's existing portfolio of quality assurance awards and recognition.
COO Patti Connolly said: "We are pleased that our highly skilled laboratory team successfully achieved this accreditation with no deficiencies, findings, or recommendations identified during the audit. This accomplishment affirms our commitment to operating at the highest standards that healthcare providers, patients, and regulatory bodies expect."
Wrt the numbers, Singer Capital Markets have a 30p/share price target on the stock based on forecast 2024 revenues & adjusted EBITDA of $8.6m & $0.1m respectively.
Fantastic thanks for posting . Could show in the results soon
There are two key rules when investing in smallcaps. Firstly 'buy when there’s blood on the streets', & secondly ‘skate to where the puck is heading’.
Both of these apply to expert immunodiagnostics firm Verici Dx (Mrkcap £10m), who today announced a potentially break-through global licensing partnership with healthcare giant Thermo Fisher Scientific (Mrkcap $177bn) to exclusively develop an assay for pre-transplant kidney testing.
Here house broker Singer Capital Markets reckons the deal refers to Clarava. #VRCI’s 1st-in-class, blood test that allows doctors to identify those patients (pre graft) most likely to require increased monitoring - including adjustments in the type, dose & duration of immunosuppressants. Especially important when handling deceased donor parts which provide >60% of all organs.
Elsewhere the agreement also grants Thermo Fisher the sole right (but not obligation) to manufacture, distribute & sell the prognostic worldwide. Alongside providing it with access to a portion of #VRCI’s proprietary urine samples – further highlighting the value stored within its treasure trove of research assets.
In return Verici Dx will receive an upfront fee, augmented by staged payments dependent on operational deliverables (eg tech transfer & publications). Which in aggregate (assuming things go to plan) should equate to c.$5m over the next year with further instalments & ongoing royalties thereafter.
So what does this mean?
Well to me, the agreement not only represents another major endorsement of Verici Dx’s top notch science by an industry behemoth. But also the anticipated $5m should extend #VRCI’s cash run-way until at least the end of 2024 (source Singer Capital Markets), reduce costs and provide the Board with the option of perhaps moving deeper into this type of science-rich, capital-lite licensing model.
Which if adopted, would leverage the sales forces & supply chains of similar 3rd parties. Whilst equally enabling #VRCI to focus entirely on its unique IPR to drive better patient outcomes & material shareholder value.
In fact, this hypothetical arrangement would not be too dis-similar to Bioventix’s already successful licensing model, that is used to commercialise its monoclonal antibodies across the diagnostic sector.
Well done for selling that 100k Daniel! Hope not at too much of a loss . Atb
Yeah, I found some loose change behind the sofa.
You must have one of them big DFS corner jobbies . Results tomorrow?
Annual results due early june should lend some fuel to share price.
Sounds like they’ve made some kind of a medical breakthrough . Great work Verici, not entirely sure what the so will make of it but it’s definitely positive news. Atb
Scientifically speaking, you’re right that is a breakthrough. Well done holders
What a great set of results. So much achieved and so much potential . Well done team
Fully funded through to 2026 which is very good .Very few companies in these markets have that safety cushion Thermo Fisher backing big plus and likely to swallow Verici whole .
Lots to come this year sets a floor on price Could be explosive growth going forward .Totally undervalued.
Verici at ATC in Philly this weekend should drum up new business and more interest in the products.
This is the time to buy . As I just did . Wee top up atb