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1.225 -0.075 (-5.77%)

Bid:

1.20

Ask:

1.25

Spread: 0.05 (4.167%)

Market Cap: £19.67m

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IN BRIEF: Genedrive Expects Lower Revenue, Develops Covid Software

Fri, 10th Jul 2020 11:47

Genedrive PLC - Manchester-based molecular diagnostics firm - Expects revenue for its financial year to June 30 of GBP1.0 million, down from GBP2.4 million recorded the year before on negative effects of Covid-19 on its business. Ended the year with a stronger balance sheet and is well-funded to execute new opportunities in coronavirus testing as well as the wider product development pipeline. Cash held as at the end of June was GBP8.2 million. Develops and CE-marked its Genedrive 96 Exporter, a new IVD software module for automated results interpretation of its Genedrive 96 SARS-CoV-2 kit. Received over GBP1.0 million of indicative orders for its SARS-CoV-2 kit.

Current stock price: 82.87 pence

Year-to-date change: up more than 100%; 22.50p on January 2

By Ife Taiwo; ifetaiwo@alliancenews.com