Company Reply5 Dec 2024 11:58
I contacted the company as to why no RNS re FBB Biomed as I suspected this was another revenue stream building up in the background :
From 11 October RNS : 'The services business continues to generate collaborations, with contracts signed to date now anticipated to generate revenue in 2025 rather than the last quarter of 2024.'
Recent reply : ' Thanks so much for your interest in Verici Dx, and in the news that you saw released by FBB Biomed.
We always discuss announcement obligations with our NOMAD and the Board, including this one.
As noted in our last results announcement and investor presentation, Verici has an additional revenue line called Verici Services. Researchers, pharma collaborators or other diagnostic companies can contract for Services from our CLIA lab in TN or for research support around our data/bio repository. As already noted, we have several such contracts and some may be more public than others.
With respect to this particular contract, from a Company perspective this would not be material enough to warrant a formal regulatory announcement, but we have commented on our LinkedIn profile. We are of course delighted that FBB Biomed have made their own announcement, providing independent publicity for our Services Business, and very much look forward to supporting them by providing advanced molecular laboratory services.
Please do follow us on social media as we share lots more content there that highlights the progress and newsflow.'
Happy that they even replied but obviously revenue is being generated from more than one source!
GL.