Unaudited cash balances stand at £1.2m15 Mar 2024 13:04
Todays RNS shows that finances have not improved much despite the recent drawdowns. At a burn rate of 400k per month (it could be more , since recent drawdowns don't seem to have bought the company much time to find new funding), this company will cease to exist as an ongoing concern beyond 15th June. The tax credit buysapproximately two more months.
genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, today confirms it has received an R&D tax credit of c£0.8m following which its unaudited cash balances stand at £1.2m.