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(nearly) Happy Birthday to the last significant news RNS! 🎂
Updates for Pitombeiras / Fodere venture has been woeful - not even a timetable update lately.
Totally uninspiring to either new or existing Investors watching the SP slip down further to 1.5/1.6p.
Think this one may have fallen down the back of the AIM sofa 🫤
I was invested at the time. The price was not 'real', it was the result 'covid stock' hysteria that swept certain market shares because at the time GDR had an innovative covid lab test. Also at the time there were only 38 million shares in circulation.
3 things also then happened:
1. Budd decimated the stock price with a ridiculous and discounted raise. He seemed obsessed at the time to pay off the institutional investors by raising and diluting the private investors rather than through sales. He did this at least twice more if I remember correctly.
2. He lost the confidence of private investors and the market in general and left many investors high and dry. He was especially good at raising hopes with comments on twitter and the like but they rarely came to fruition.
3. GDR never sold any of said test in two+ years of the pandemic.
So just be careful when reading past articles...
WASU wrote
"more hospitals will join for the test program"
Just a little point - this is not a test program.
The Genedrive MT-RNR1 test kit is fully certified and approved for use in the UK incl. NHS. It's a commercially available product through GDR distributors both here in the UK and abroad.
Formal adoption throughout the NHS is one of the current main target of the company's. Getting it through FDA certification is another so that it can be sold throughout USA.
Welcome aboard!
Can both buy and sell on HL ok.
Temporary blip with your SB?
If you sign up for 'Investor Meet Company' and you register for GDR, they will email you when a recording is ready. Sometimes they also post up responses to investor questions which they may not of had time for on the day.
Well that was a completely different style of GDR presentation than before!
New CEO seems far more proactive, focused and seems to have the right connections and knowledge for commercialisation.
Shows DB was floundering, was taking the company completely in the wrong direction and had no chance of realising the full commercial potential of the Genedrive.
Some of the highlights I noted:
* GDR to concentrate on pharmcogentic testing and steer away disease testing e.g. Covid.
*Looking to innovate the Genedrive device further.
*The correct people within the NHS (health innovation networks/spec.commissioning) have now been engaged for both MT-RNR1 and CYP219C test. UK news imminent.
* MT-RNR1 test can now be sold in overseas markets now that product displays and manuals etc have been translated to local languages (how was this not done before?!!)
* FDA and potential partners have now been engaged and progressing for MT-RNR1. FDA are 'supportive'.
*Looking at launching CYP219C test into Europe as research product while waiting for IVDR approval. There is interest.
*Near future fund raising will primarily be for FDA approval for MT-RNR1 kit and not for any other product development or "hairy fairy" (quote) things [Separate funding being required for this has been known about for over 2yrs].
To quote the new CEO hopefully it's going to be "very, very different than before".
Overall I'm quietly confident but acknowledge it's still a bit tricky over the near future. It could be very interesting over Dec/Jan.
GLA.
I believe there could be some confusion because of the company's recent past.
I believe Genedrive plc was originally called 'Epistem Holdings' when floated in 2007. In 2016 the company was reconfigured and relaunched as Genedrive plc with some employees/directors splitting away taking the Epistem name with them.
Epistem as a company still exist in the field of drug research and are based in the same campus/building as Genedrive.
Probably explains the senior resignations showing in the past.
"Anyone turn down 14p a share right now? I’m afraid I wouldn’t "
Ha! I bet if the price suddenly rose to 15p, you'd still be holding!
Your constant multiple, daily berations are just numbing.
Why don't we just wait for the presentation to see what the new CEO has to say before we start panicking, eh Cpl Jones?
I would happily vote for a Saudi takeover for a very cheap 350p/share 😁
"monthly spend of £400k"
Will be interesting to see if this figure has been reduced since Mr Cheek has come on board.
We should also see his remuneration on the next accounts - see if it's structured differently to Mr Budds.
@roger65 said
Ooh could that be RF? They’re the only strategic investor on board atm so I’m guessing they’re going to up their stake to 49% "
As I understand it the rules are very tight for any uk publically listed company once the 30% ownership threshold (either individually or as a concert) is met including the 'mandatory offer' of cash for the remainder of the shares in said company - effectively offering to take over the company. The offer has a fixed minimum price based on previous 12mths SP.
There are other threshold notices too, to prevent sneaky or hostile takeovers. It's not as straightforward as just accumulating of shares however they are obtained.
I do agree that this company will probably not be standing independently in the mid to long term and will either wither or be aquired. Hope it's the latter and at a much better price than today!
I am looking forward to seeing the presentation to what plans Mr Cheek et al have in mind. GLA
A dry, hot zephyr pushes the tumbleweed down the main street......the townfolk look parched...
Their weary eyes once again look to the empty skies in a vain hope of an RNS to finally end the news drought and to help their withering investment grow! But, no, it's just another day of tumbleweed....
Personally I find the whole NICE idea of a 'fast track' EVA in our case a bit of a farce.
The NHS have widely acknowledged the test and its success (incl national tv news), its been globally published in leading journals, has been 'approved' by NICE, financially adds up and is available, yet NICE is wanting more data for 'full' recommendation.
It's already been proven that the implementation of this non-invasive test does not delay the treatment path and is a reliably built piece of kit.
Therefore, surely any additional NICE comparison verification data between the Genedrive and a 'full on' lab can be carried out away from the hospital ward environment. This will check its efficacy over a much wider set of specified DNA covering the whole human spectrum and in a much, much shorter time than 3yrs. It won't leave anyone waiting for mother nature to present you with specific quantities of the 'correct' babies.
After all, the kit has been in constant use, has been redesigned to the NHS' wishes and twice achieved build marking since starting its initial real world NHS trial in 2019.
The idea of the EVA was to speed up approval and implementation of innovative and much needed diagnostic tests/kit. Instead it seems that we have drifted back to the conventional NICE path timescale.
It would be interesting to find out how others have fared in the same process.
My ignorance in this process is probably showing but maybe we could all be educated if the situation and our current status with this kit were clarified by GDR themselves instead of the tumbleweed scene we shareholders currently find ourselves in.
Fingers crossed the CYP2C19 kit gets a smoother and speedier path.
GLA
Please tell that to the stock/share price 🙄
@ roger65
"no one really wants it yet or can afford it."
This is just your own unsubstantiated and characteristically gloomy speculation.
NICE 'conditional' approval was only received 6mths ago. NHS Trusts just don't move that fast when introducing or procuring new technology. Remember, that's what it is, new technolgy. Each trust has to make its own case.
You don't know which trusts have enquired or at what point of the process any engaged trust currently stands (unless of course you have privileged info!).
I agree, the lack of comms from company and the way things have gone is enormously frustrating but hopefully we will soon receive either a status update or presentation notification for all current and future Genedrive kits and assays.
GLA
I wonder how much last year's AGM vote influenced this board change 🤔
Time for this company to climb out of its nappies and start growing!
Apologies, my post on this thread is @ stocksaint
Why are you talking about yourself in the 3rd person?
Also, and apoligies if I'm mistaken, but I don't recall stephen11 blaming anybody for his "hideous investment decisions" and nor do I believe anyone else here does.
I think his posting is more a comment on your monotonous and combative dogma.
# 'I don't believe this stock will move very'
Why ain't there a bl***dy edit button!🙄
# 'I don't believe this stock'