Screaming buy. Market cap £17 million is a bad joke.10 Aug 2024 15:31
I still find it difficult to actually believe. I mean £17 million seems ludicrously low.
1. They now have TWO machines recently cleared for use in the UK's NHS. One to do with hearing and one to do with strokes.
2. This accreditation will be enough for many countries health services to also buy the machines, over and above the whole of the UK's NHS which in itself is a huge market.
3. They raised £6 million at the end of May this year, just 3 months ago.
4. They have already done an RNS in May reporting sales of the machine to do with hearing to the NHS. From the RNS:-
"genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, is pleased to announce that initial orders have been received for the Genedrive MT-RNR1 products from a further five UK hospitals in the Greater Manchester region as they progress towards the sustained deployment in clinical practice in these Neonatal Intensive Care Units ("NICU").
The total value of the orders is in excess of £100,000 and the NICUs of the five hospitals, The Royal Oldham Hospital, Stepping Hill Hospital, Royal Bolton Hospital, Royal Albert Edward Infirmary and Tameside General Hospital admit approximately 1,900 babies per year. These additional sites more than double the number of NICUs in the UK using the test in routine practice.
5. RNS 20/12/23 regarding international sales of the machine to do with hearing. From the RNS:-
"Initial overseas orders of the Genedrive(R) MT-RNR1 ID Kit
genedrive plc (AIM: GDR), the point of care Pharmacogenetic testing company, announces that initial orders of the Genedrive(R) MT-RNR1 products have been received from France, Austria, Greece, Saudi Arabia, Turkey and the Netherlands.".
All IMHO.
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