Last Equity Fundraise RNS dated 27th March 2025. Use of proceeds2 Aug 2025 16:29
"Use of proceeds.
The net proceeds from the Subscription will provide genedrive with additional working capital as it actively pursues a broad range of growing commercial opportunities in the UK and internationally at the present time, including both commercial sales and potential non-dilutive grant income. CE-IVD certification for genedrive's CYP2C19 test, which is on track for April 2025, will also enable in-country registration and subsequently sales of the test to commence outside of the UK and genedrive is
****particularly encouraged by opportunities presented in the Middle East region, where it has focused significant efforts and expenditure to understand market access and reimbursement routes as well as identification of primary target hospitals, opinion leaders and healthcare organisations and will update further in due course as opportunities are converted as appropriate****.
The Subscription provides the Company with an extended cash runway to seek to close a number of the commercial and other opportunities in front of it and further drive shareholder value. The Board will continue to assess longer term financing options in the meantime."
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4 months ago. With no RNS's since 31/05/2025 we simply don't know. Could be bad, could be good. Obviously they were optimistic of sales in the Middle East.