Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Nice to see the sp continuing northwards. On another website I came across what is IMO an excellent assessment of GDR and its future potential, posted by Indomie 1.
"As others have said this rise really feels like it is due to a long awaited re-rate as stock was heavily oversold on little or no news. I'm not sure the market appreciated the significance of the NICE decision to prioritise the assessment of GDRs two pharmacogenomic tests either before xmas.
It has always been a difficult share to judge as it wasn't clear with the pandemic whether GDRs strategy - which relies on healthcare systems around the world prioritising genomics to help manage demand, reduce costs and improve patient outcomes - would be adopted. IMO it is now starting to look like with the extra pressures on health systems following the pandemic, that genomics WILL be a big winner in terms of new research, innovation and products.
GDR has been ahead of others in this market. The decision by the company to pivot to using their technology to try to help during the pandemic, has helped to fund upgrades to their diagnostic platforms, and now the delays in regulatory approval caused by the pandemic only seem to have accelerated interest in pharmacogenomic testing in a way that was probably not envisaged pre-pandemic.
There are still very real ethical issues to work through with areas like genomic sequencing, but if health care providers are working towards the adoption of that technology, then they need widespread adoption/acceptance of the sort of tests GDR are now bringing to market which do not have as significant ethical issues.
As others have said, do your own research here. Some may not believe pharmacogencomic testing will take off, others can see a real patient need and GDR as a 200-300m market cap business in a reasonable timeframe.
GDR have never provided any detailed breakdown on the global market for their AIHL test, other than saying it is in excess of 100m in annual sales - the focus was initially on UK, Europe and USA but now with entry to the Middle East market, there are clear signs the company is seeing interest further afield too. The stroke test has even bigger potential uses, and the reputation and experience GDR have built up have positioned the firm well. Some things are outside of their control - national NHS commissioning of the AIHL test would transform this company and any valuations - but that decision is outside of GDRs control. In the meantime, they are focusing on getting a NICE recommendation which will help take up with all the trusts they are currently in discussions. The company is also due to update on their strategy to enter the US/North American market, and launch its stroke test, so lots of news still to come in 2023!"
I'm feeling more confident about GDR again.
There is much potential good news in the near and medium term:
1)NICE approval for the AIHL test.
2)AIHL test sales, previously confined to Manchester hospitals, going nationwide.
3)Sales of POC covid test kit.
4)Development and eventual approval of the POC device for stroke treatment in emergency care settings.
5)FDA approval of the AIHL test.
The downside? None of the above are a given and there will be a fund raise later this year.
In the meantime I hold.
Good to see GDR on the rise again. Could it just be that people are realizing covid is on the up again? According to official stats in late May there were around 5000 daily cases in the UK, now there are around 20,000. In early June there were around 5000 people hospitalised with covid, now around 9,000.
And then there is the little matter of AIHL. Contracts with different NHS trusts can't be far off imo and then there's the hoped for NICE recommendation which could really set the sp alight.
It's been a long wait but at last:
"Genedrive PLC Point-of-Care COV19-ID Kit receives CTDA approval
30 May 2022
genedrive plc
("genedrive" or the "Company")
Point-of-Care Genedrive(R) COV19-ID Kit receives Coronavirus Test Device Approval ("CTDA")
genedrive plc (AIM: GDR), the near patient molecular diagnostics company, announces that the UK Medicines and Healthcare Products Regulatory Agency has granted a CTDA enabling the sale of the Genedrive(R) COV19-ID Kit in the United Kingdom. Genedrive's application for approval, under the requirements that came into force on 28 July 2021 via The Medical Devices (Coronavirus Test Device Approvals Regulations (2021)), was made on 21 December 2021.
Since submission for approval, the product has undergone positive external validation, commercial partners have been engaged in specific countries, and product claims have been expanded to include the testing of asymptomatic patients.
Information about the Genedrive(R) COV19-ID Kit can be found at https://www.genedrive.com/assays/cov19-id-assay.php
David Budd, CEO of genedrive plc, said: "We are very pleased to have received a CTDA, which now allows the UK access to the fastest point-of-care COVID molecular test. The performance of the test has met CTDA standards in all regards, which positions genedrive well to engage in opportunities as they develop going forwards in the UK."
The Genedrive(R) COV19-ID Kit is a rapid molecular diagnostic test that delivers positive results as quickly as 7.5 minutes and negative results at 17 minutes. It utilises Reverse-Transcription Loop Mediated Isothermal Amplification (RT-LAMP) and a proprietary buffer formulation to achieve rapid results without requirement for user viral extraction steps. Performed directly from a mid-turbinate nasal swab, the assay targets the ORF1ab and N genes of the SARS-CoV-2 genome, adding robustness against emerging SARS-CoV-2 variants."
I had an email today from Advfn marketing their newsletter:
"...Then there's Genedrive (LSE:GDR) which we tipped in November at 19p. Last month it hit 61p - a rise of 238% in less than a month.
As you can see from these results, our tips continue to be on the money.
If you sign up you can get tips like this. These results are because we know how to pick out the companies that are poised for material gains."
I wonder if they tipped the subsequent fall as well. :-(
Fwiw Zak Mir gave GDR a mention earlier today.
"On to one of the most followed stocks around, Genedrive. Here we have the turn around with the snapping of that resistance line from January. We've had bullish divergence as well. Could yet be enough to cause the shares to break the December resistance line around 33p and take the stock up to as high as 56p if we can break 33p over the next week or two. The other positive is the way the 50 day moving average has been rising since the end of March and continues to do so which also suggests the shares are ready to move north. A weekly close above the 200 day moving average today could seal the deal on a potential move higher maybe early next month."
https://www.share-talk.com/traders-cafe-with-zak-mir-bulletin-board-heroes-friday-22nd-april-2022-via-vox-markets/#gs.y7sx70
Never mind the day traders, Calculus has been offloading and this doubtless would have weighed on the sp. Now that they are out, a good chance imo of the sp moving northwards again.
"Calculus fully exit Genedrive plc for an average ROI of 2.1x
Calculus has delivered an average ROI of 2.1x from Genedrive plc (AIM: GDR) through a number of exits in the VCT and EIS Funds. Genedrive, a company we had supported through scale-up, was founded as a contract research business (”CRO”) but refocussed as a Point of Care molecular diagnostics company....
....The rapid global shift of healthcare to testing and treatment of COVID-19, also meant the company refocused part of its resources to the development of two SARS-COV-2 tests. In late 2021 the company received CE-IVD certification under the European Communities Council Directive 98/79. This, combined with a long-term supply agreement with the US Dept of Defense for the company’s biohazard test and progress on its ground-breaking antibiotic induced hearing loss test for neo-natals, resulted in an increase in Genedrive’s share price and a good opportunity for Calculus to realise our holding."
https://calculuscapital.com/calculus-fully-exit-genedrive-plc-for-an-average-roi-of-2-1x/
A lengthy article from the US demonstrates that interest is not confined to the UK.
"UK Study Supports Clinical Adoption of Genedrive Newborn Hearing Loss Test Within NHS
Apr 07, 2022 | Justin Petrone
Newborn hearing
NEW YORK – A recent study in the UK will lend support to the widespread adoption of a point-of-care pharmacogenomic test in that country that could spare newborns the potential loss of hearing associated with a widely prescribed antibiotic."
As well as going into the history of the assay it highlights a number of other key points:
There is a lot of enthusiasm within the NHS for adopting this assay.
The introduction of the technology into the critical care setting did not slow the decision making or delay the routine prescription of antibiotics.
The ease of use in an acute setting.
The introduction of fail safe physical solutions to prevent test failure through premature removal of the assay cartridge.
https://www.360dx.com/molecular-diagnostics/uk-study-supports-clinical-adoption-genedrive-newborn-hearing-loss-test
For those who still have their doubts, a reminder of some of the comments from the NHS's own website:
"The new swab test technique would replace a test that traditionally took several days and could save the hearing of 180 babies in England alone every year."
"Developed in Manchester, the new test means that babies found to have the genetic variant can be given an alternative antibiotic within the ‘golden hour.’"
"It is expected the test could save the NHS £5 million every year by reducing the need for other interventions, such as cochlear implants."
“Through world-class innovation, the NHS is delivering cutting edge treatments to save and improve patients’ lives as well as delivering on the commitments of the NHS Long Term Plan.”
"Around 300 nurses are being trained to use the machine across MFT at Saint Mary’s Hospital, Wythenshawe Hospital, and North Manchester General Hospital, and the test is expected to be routinely used in all the hospitals’ neonatal units within weeks"
"Minister for Innovation, Lord Kamall, said: “Genomics is changing the future of healthcare – from detecting new variants of Covid to enabling more targeted treatment of illness. This innovative new test has the potential to prevent life altering and preventable side effects for babies and keep the NHS ahead of the curve in delivering state of the art care.""
https://www.england.nhs.uk/2022/04/nhs-develops-world-first-bedside-genetic-test-to-prevent-babies-going-deaf/
We should be getting news on the following at tomorrow's presentation:
Commercial launch of AIHL...great find JH.
POC: Update on CTDA progress, as per govt website:
"During the approval process DHSC will keep you updated on your application’s progress."
An update on progress, if not approval, is overdue!
Further details on "the opportunities being targeted by our commercial partners" as per the half year report.
Further details on the development of the new stroke marker test.
Finncap has issued a morning note on GDR.
The positives:
1) "Cash at 25 March, following a £1.2m R&D tax credit, was £6.0m, which provides the company, based on the current £0.4m monthly burn, with a minimum runway at least into mid-2023. This should give Genedrive the time to demonstrate market acceptance for both products."
2)"We expect a NICE Medtech Innovation Briefing, advising clinicians and commissioners on the Genedrive MT-RNR1 test, to be issued shortly. This should catalyse further early adopters’ use of the test before being included in National Guidelines."