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This fish may be floundering but I don't think she's beached fully yet.
Several positions are being advertised including a "Marketing Communications Executive"
Now we all know they certainly could do with one of those!
I think shows the company are beginning to seriously make moves from a research ethos to a commercial one.
"ESSENTIAL FUNCTIONS
Support the Commercial Team in the execution of marketing plans, including marketing and social media campaigns. Coordinate and deliver engaging content.
Work closely with external marketing agencies to ensure that we produce the best quality marketing materials and campaign content at the best value for money.
Prepare and update marketing materials, including promotional literature, technical user guides, training videos and materials to support the IVD products and drive sales.
Ensure that all marketing materials produced are of the highest quality and follow the branding and regulatory guidelines.
Maintain and update product labelling, including updates to product instructions for use documents and user manuals.
Update social media content for IVD products in line with set objectives and targets to increase engagement levels amongst target audiences.
Update the company websites content to enhance brand engagement, ensuring that the approved content is high quality, up to date and relevant and monitor success.
Support and coordinate events, along with distribution partners, to showcase products and increase brand awareness.
Undertake desk market research as directed by the Marketing Manager and Product Managers."
Other positions are being highlighted on Twitter
https://twitter.com/Investor_pilot/status/1445370874543104007?s=19
Hopefully we only have to gasp for a little while longer before we get back in the water and start swimming with the big fish (or gobbled up by a big shark!).
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Cytvia and Beckman won't be buying anybody. They are both subsidiaries of the Danaher Corporation.
I've just had a squint at the new Mark II genedrive unit for AHIL - what a beast!
Looks more contemporary and robust and not quite so '80's Speak and Spell'.
I also noted that the AIHL trial (PALOH) NIHR grant was just short of £900k.
https://fundingawards.nihr.ac.uk/award/II-LB-0417-20002
After such an investment and with a certified commercial product now available, there surely should be a significant uptake by the NHS? I know an estimated figure of £5m has been quoted, but this should be an annual and incremental sum. I'm really hoping it proves a conservative estimation.
I was also pondering on more future tie-ins. Off the back of the successful PALOH trial, Dr John McDermott was awarded a research fellowship to investigate further 'pre-emptive pharmacogenetic testing'. The future is said to be a more tailored , personalised medicinal approach like the AIHL solution. Would hope it's the sort of partnership and opportunity GDR would pursue with zeal.
Like most here, I'm in a 'snorkel' situation and I know some have some (understandably) strong views on Mr Budd but honestly I don't think he's going anywhere. Let's just pray he turns out to be a new Alex Ferguson - really crap at the beginning, top of the league in the end lol - fingers triple crossed! GLA
I found this quote from the RNS quite interesting..
"With the EU scheduled to follow early next year, our first EU pilot site is already established, and will serve as a reference site as we target selected EU countries"
Looks like some lessons may have been learned with the EU 'trial' site already in hand before CE announced. At last, some proactive and pre-emptive product promotion.
Let's hope all lessons have been thoroughly learnt after our little blue pill didn't get a rise....
@Tipsey
HTH
https://www.rolls-royce.com/about/where-we-operate.aspx
I just wondering if anyone took part in the Placing & Open Offer approval vote?
I unfortunately missed the registration deadline (noon today through HL).
The next RNS should be sometime during the day in a weeks time (30th) with the result of the vote and the amount raised from both placements (if vote passed of course) - exciting and tentative times indeed!
Gotta get it past the FDA first :S
Maybe we can get a 2 for 1 offer on Black Thursday - Lab test + POC EUA lol.
GloriaMarket wrote
"The POC kit still doesn't work and its Q4 next week."
I find this this statement confusing and seemingly untrue. According to RNS data reports it works very well and is going through CE qualification right now.
GloriaMarket wrote
"Â I can't see POC selling unless its cheaper than LFTs and based on GDR's track record they price themselves out of the market."
You are missing the point with the POC. It is not a replacement for LFT. It is a far more accurate, reliable, multi-variant detection medical device for different markets. LFT is classed as mass lower accuracy rapid testing. This is why for travel only PCR or supervised LFT are acceptable. Positive LFT still normally require PCR confirmation. Genedrive COV POC is the next evolution for the more lab based PCR test e.g. a hospital ward will be able to confirm a patient is infected within minutes instead of days with the best possible accuracy. I can imagine one in every large Boots pharnacy, replacing their current Covid services through the Recova-19 PCR portal (say).
GloriaMarket wrote
"They'd initially said the POC would be saliva based and obviously its still not working so they've had to go for a nasal swab - as if the market is waiting for another nasal swab test. They know it's not, POC version one will not sell. POC version two might but that's another 18 months away at least, looking at their track record"
I don't believe this is so. Mark 1 was always to be swab and GDR had expressed their ultimate aim was to achieve bead/saliva format in Mark 2/3.
I should imagine all versions are being developed in parallel to save time. The main difference between Mark 1 and future Marks will be the assay cartridge, so should less development time spent on the actual Genedrive device itself.
You seem to have little faith in any of Genedrive's products, so find it difficult to understand why you invested at all.
However, I understand your frustration/sentiment and also agree we are not in a good place right now, but mis-information/speculation is going to do no one any favours.
The Genedrive AIHL combo should start to bring in some money within a few months. This has been developed hand-in-hand with a highly respected world renowned customer, the NHS. Once it's in their hands, it should help doors open elsewhere and more sales will (hopefully) follow.
Winnimandala wrote..
"What is the point of product development if your are not Going to commercialise those products with sales… GDR have yet to do this with any product "
I agree that the company has struggled to convert products into sales. Hence why they probably released the following statement about AIHL in particular in the 10/09 RNS circular...
"The Company will also be recruiting its own business development team of around two to three FTEs to work alongside IHC's own teams in the UK and Ireland. In addition, genedrive will also target territory expansion opportunities in the EU and other specific rest of world markets via a team of up to a further five FTEs."
Hopefully this will kickstart the 'proper' sales figures we so richly deserve and desperately need.
Also now received a HL message detailing my entitlement, cost and simple instructions on how to take part if you wish to incl. when you have to have the cash on your account.
If you happen to have shares in more than one account, you'll get a separate message for each of those accounts.
@stephen11
I'm with HL and I noticed a new line has appeared on my portfolio listing labelled
"Genedrive plc Open Offer Entitlements"
with the pice showing as 0.00p and marked up as
"this stock does not currently have a stock market listing"
HTH
"Hendi's theory?"
Surely any sizeable position building would trigger TR1 notification way before his quoted 29.99%.
Triggering the 30% mandatory rule would push SP to 150+ if my understanding is correct.
I'm not passing on any opinion about the BOD's investment level but it is my understanding from the RNS is that the quoted investment figures for the board members e.g. £20k for DB are based on the Open Offer allotment of 2 for every 7 owned and then rounded up by purchasing through the Excess Entitlement scheme.
I'm probably totally wrong but the figures seem to suit.
However, it would instill a lot more confidence to see greater investment by the BOD from the open market (if they are currently permitted to do so).
Three points come to mind on the immediate price reaction:
1. Peel et al will need to keep it above the placement price until the shares come to the market otherwise those that have already subscribed to the £6m placement will be buying at a premium.
2. They will also need to keep it up to tempt investors into the Open Offer, otherwise they too will buying at a premium.
3. The 25p offer is only open to existing holders. It could be seen as a tempting punt now by others, so anyone taking a new position will have to pay market price.
As to how the SP will actually react I can only guess. A case of wait and see...
starresnstoof said
"my guess was they had some feedback, hence why they want to spend a bit more on it? i.e 35% for development??
but it also says CE marking in October, which is not far away"
I'm presuming we're talking Covid POC.
I took it mean Mark I is ready and going through CE now and the development money was for the future bead format and saliva versions which are mentioned.
I can't believe the conversation between her and 'peter'. Staggering!!!
Both placements have yet to be approved at the General Meeting. The date of this is still unkown.
According to the latest placement RNS they plan to admit any placement shares on 1st Oct, so anytime after that if required.
Although II's may have taken new shares, because of the large increase in share volume, their prospective % of ownership may have actually shrunk depending on their subscription.
I think AIHL is a certainty because it's been a bit of a crusade of GDR and is essentially being driven by the NHS who are in waiting. The new sales team for it will also hopefully be hungry - I just hope they don't get dragged down.
The CE qualification 'should' also be ok because the system has been certified before, it's just been upgraded after consultation with the NHS so had to be resubmitted (I guess).
All the above has to happen when promised otherwise the company will be severely punished.
I think based on AIHL alone, it should see us back in the low 40s once sales start. This is when II's may start unloading their 24m shares knowing there'll be buyers.
As for Covid POC, until we see the RNS confirming the CE qualification the market will not yet factor it in because of past constant delays. CE qualification may give the price a small temporary uplift but nothing proper until sales. Again, we need that new sales team to be hungry!
I also think (unfortunately) both placings need to be fully subscribed to give us the best chance. Hopefully this will at least increase liquidity too.
I was wondering if the future monthly burn rate may lessen (excl. DB bonus!).
We've been developing 3 products at the same time this last year and two of those should be moving to sales stage, just leaving just TB assay confirmed as in development.
I think Genedrive needs to evolve quickly from its research based ethos to a commercial and sales based one or it will wither.
Research and product development is still very important and we seem to have some excellent technical staff but it all costs money. The company needs to grow up, mind the pennies and start taking on the sales and promotional side far more proactively.
BOD should be rewarded on market value, sales and growth, not default bonuses.
I can't remember once seeing one promotional article in a medical/pharmaceutical trade journal/magazine or trade show by GDR for any of their products. No "see us in the month's 'Stork and Gooseberry Bush' magazine". The sorts of things that should be on the website.
The AIHL trial was resounding success medically, but relying on the trial leader's tweets only for promotion is ridiculous. Same goes for HCV and PCR relying on retweets of 3rd party studies.
Let's hope in the hands of IHC the AIHL POC gets a good hearing (pun intended!), sales take off and infants saved from potential disability.