Member Info for Eureka01

It's a very tight spread at the moment: 17.71p to buy/17.5p to sell. Many of the trades listed as sells are actually buys!

johnlay****, correct. just as with the end of the nice public consultation for aihl, in my opinion, we won't see an rns from the company on the end of the nice stroke consultation today..

It's simple Big Mack. If you bought below the mid price it shows as a sell, if you bought above, then it shows as a buy.

No Guy, I went through that at the time. The change of day was outside GDR's control and the important was that there was an announcement when NICE made its recommendation. The fact that that announcement was delayed by a couple of days was immaterial. I'm certainly not "bitter". Frankly from your numerous negative postings to all and sundry I get the impression that you are a rather lonely embittered individual!

Guy, unlike yourself, no one is offering insults. Questioning, yes, and rightly so. On the Devote issue, I think (and this is my own speculation) that we would get an announcement once we were involved which I'm sure we will be.

I had some answers from a Company spokesperson on a few issues that have been discussed. And Guy please don't call me a liar again. I might send BigAl to sort you out! :-)

1)First it isn't correct, it seems, that GDR can't get further drawdowns if the sp falls below 16p. I don't pretend to fully understand the answer I was given but perhaps someone can clarify. If the Company meets the requirements under MAC (Material Adverse Change) it can call for a drawdown. If it doesn't then the Company has to ask for the drawdown and this is done by mutual consent "rather than formula".

2)GDR is NOT involved with the DEVOTE programme at this stage.

3)Re the warrants just granted to Riverfort, if the sp is less than the reference price, which is the average of the daily VWAP for the 5 consecutive trading days prior to drawdown, then the warrants have no value. So clearly it is not in Riverfort's interest to depress the sp.

This news surely highlights the need for GDR's test kit:

"An urgent review into hearing services for children in England has been launched following claims that thousands of deaf babies have been 'failed by the NHS'.

At least three NHS hospitals have seen audiology departments shut down after children were wrongly given the all-clear over testing errors.

The new review comes following an inquiry into failings at the NHS Lothian health board which found that some children were unable to receive needed implants because of late diagnoses.

Some areas of England have a notably lower diagnosis rate for baby hearing issues, a recent review revealed....

Health officials looked at the records of children born since 2018 over the past six months.

Some staff were found to be inadequately trained or supervised, and concerns were raised over a failure to properly follow clinical guidelines.

Proper analysis of the testing of children's hearing was also cited as a cause for concern....

There are estimated to be around 50,000 death children in the UK and three deaf babies born each day."

https://www.dailymail.co.uk/news/article-12156115/Thousands-deaf-babies-failed-NHS-Officials-launch-urgent-review.html

As others have pointed out, the buys and sells total shown at the end of the day are meaningless. Any transactions above the mid price are shown as buys and any below are shown as sells. At the mid point they are shown as unknown. I did several dummy trades on Friday as well as an actual trade so I can vouch for that. For instance early trades at 17.2363 when the sp was 17/17.5 were shown as sells but were actually buys. Later when the sp was 16/17, 16.5001 was shown as a buy. It was actually a sell.

From Vox Markets:

"Genedrive has hit another hit milestone in the development of its CYP2C19 ID test kit, which, when available, will provide superior patient outcomes and reduced healthcare costs.

The demand for Genedrive's test kit is incredibly high due to its critical importance in addressing a significant health crisis. In the UK alone, there are over 100,000 cases of strokes, 60,000 transient ischaemic attacks, and a staggering 38,000 associated deaths each year. Moreover, on a global scale, there is a substantial market opportunity for Genedrive as strokes rank as the second leading cause of death worldwide.

Genedrive's test kit also offers huge cost-saving benefits, as evidenced by the significant financial impact of strokes on the NHS, with the annual cost of strokes alone surpassing £3 billion within the healthcare system. However, when considering broader factors such as the societal cost, including the loss of productivity among stroke survivors of working age and the extensive hours dedicated by unpaid caregivers, the overall economic burden escalates to £26 billion per year.

During a time of unprecedented pressure on the NHS, stripping out the cost of ineffective prescriptions and reducing the burden of avoidable illness and adverse drug reactions could present a substantial cost-saving opportunity, in addition to optimising the desired outcome and safety of the care each individual patient receives."

https://www.voxmarkets.co.uk/articles/genedrive-s-test-kit-for-stroke-treatment-receives-nice-recommendation-5c1d823

You're welcome BigAl. When I share information that I have learnt I'm trying to be of help to others. it's a shame that one or two try to tear you to pieces when things don't go exactly to plan but I guess in life one takes the rough with the smooth!

Yes, this is some bloodbath! When I think of Guy why do the words "pot" and "kettle" come to mind! :-)

"Not seen an Apology owed to Eureka1 ??" Thanks BigAl! I see Guy has at least admitted he was wrong about the bloodbath. I guess that's a first! I see he's still trying to justify his post even though I explained why I got the day wrong and apologized. What Guy can't see is the important was not that the announcement was delayed by a couple of days but that the announcement came! But I guess that personal apologies probably come difficult to him!

No, Guy, my contact said that there would be an announcement on the day the public consultation began. As I said previously, it was MY assumption that this would be on the previously scheduled date and my apologies to all for that. I suppose a lesson that one must take nothing for granted!

Oh dear, I see Guy and the "Professor" are making the most of this....like petulant children. I did say, " there WILL BE an announcement on the day that the public consultation begins" and, yes, I assumed that would be on the scheduled date, ie today. If the public consultation has been slightly delayed, something outside GDR's control, then that doesn't mean that we won't see the RNS when the consultation does begin!!

Hmm, I see the same sceptics posting again. Yet previously my info, gleaned from the Company, was proved right. Most were expecting an RNS at the end of the NICE AIHL public consultation. I said it wouldn't happen and it didn't. Most were expecting an imminent RNS about the FDA pre submission discussions. I said it wouldn't happen and it didn't. Ok let's see what happens tomorrow. I have posted that there WILL BE an RNS. Guy, who was proved wrong last time but doesn't like to admit it, says let's take what I've posted with a huge pinch of salt. Let's see who's right! For the record, I knew nothing about the RNS that appeared late yesterday and I wasn't very happy to see this further dilution.

One point I did leave out from the feedback of my chat with the Company was the outlook. Apparently Genedrive is the first company IN THE WORLD to come out with molecular diagnostics in emergency care. Over the next 12 months they see good commercial adoption of their products and are working to expand their footprint outside the UK. Within the UK they would want NATIONAL COMMISSION for AIHL which brings with it orders on a nationwide scale. This national commission is an internal process of the NHS outside the control of GDR but the Company has a lot of advocates for AIHL within the NHS!

Hi Stephen, I prefer not to name sources but suffice to say it was direct to the Company and not through an intermediary (ie Walbrook).

I had a fruitful discussion with the Company earlier today and came away feeling reasonably cheerful. Certainly a number of issues upon which I had questions were clarified.

AiHL

We have heard about distribution agreements but not about sales. The delay between getting a distribution agreement and getting sales is because most countries need to register a product which can take up to 6 months. Then there is the business development cycle where new funding for a product needs to be applied for. However I was assured that sales ARE HAPPENING in the background.

There has been a lot of discussion on the status of the NICE recommendation. It is not possible when applying through the EVA process to get FULL recommendation. The product got CONDITIONAL recommendation which was the highest recommendation that could be given under EVA. So nothing to be disappointed about there.

FDA discussions. The time line of the ongoing discussions which started in November looks to be for completion around July . There would only be an announcement if there was a positive decision.

STROKE TEST

The delays have been of a technical nature. The plan was to have an external partnership back in February but it didn't happen. Secondly the Company took a decision to manufacture internally to lower costs and avoid time delays on supply.

Last time I posted that there would not be RNS's on a couple of developments. Many were sceptical but I was proved right. This time I'm pleased to say that there WILL BE an announcement on the day that the public consultation begins, ie in two days time.

I hope that helps but as always DYOR.

Apologies if posted already.
"Outlook
Over the balance of the 2023, we expect to see widespread adoption of the MT-RNR1 test in existing launch hospitals. In addition we expect genedrive to (i) sign additional distribution partners for MT-RNR1 (ii)establish additional sites in the UK (iii)launch the MT-RNR1 assay in other EU countries and (iv) launch CYP2C19 in the UK. NICE is also expected to complete its review for CYP2C19 and launch in other territories subject to IVDR registration. We also expect a response from the FDA as to the pre-sub application processes for MT-RNR1, which will determine how to proceed (funding permitting) to access the large US market.
Forecasts and Valuation
We are leaving forecasts and valuation under review until we have greater visibility over orders and utilisation rates. With cash at 14 March of £2m and the £5m equity prepayment facility available to genedrive, we consider the company to have a sufficient cash runway to demonstrate to the market and potential corporates the value of these two unique POC tests."

Yes, further to that It is worth bearing in mind that the Company itself has dropped hints about possible alternative funding. In the Investor Meets Company presentation on the 21st November last year the CFO, in answer to a question re funding mentioned that the Company was looking at alternative, non diluting financing options and added "We have grant applications in process as well".