Member Info for JimiHendrix

Yes quite good news actually, there's clearly no chance of the company going into administration. FDA partner deal may well be connected to this.

That would make most of their current warrant worthless, as there would be almost no chance that the share price would go high enough to use them at the price they were issued at.

Roger, I think you might be right with the Riverfort strategy however they would need to buy those shares. I understand them to be options to buy shares at the warrant price.

According to Walbrook the tax credit is expected by the end of this month, so it sounds like they haven't received it yet.

I believe their cash position should be about £1,100,000 at the end of this month, providing the tax credit is received as expected by the end of the month. Possibly an extra £200k from devote funding, but need to check that.

What would happen to a subsidiary company if it's parent went into administration?

It occurs to me that we're not buying shares in Genedrive Diagnostics, the listed company Genedrive PLC is the parent company which provides funding for Genedrive Diagnostics. Pretty sure the tax credit, and employees, IP etc is all under the subsidiary isn't it?

James Cheek and management would do everything in their power to avoid that scenario then, as they will all lose their jobs and large salaries (for some).

Roger, in that scenario though how would the new private company pay all the employees salary? Currently these are being paid through market fundraising and tax credits mainly.

People were saying the same things this time last year when it was 8p and then the market anticipated the positive news flow around NICE that would probably come around springtime last year, and so the share started rising as people built positions. All the way up to 20p with no news or change in the fundamentals.

It’s obviously a combination of sentiment and fundamentals. However right now, similar to last year the share price is beaten down with low sentiment. I’m anticipating it improving leading to half-year presentation.

The share price jumped from about 8p to over 40p around this time last year, and that was after previously being around 40p for months.

The current share price is about sentiment that’s all. It could easily shoot up 100-200% from the current levels. We’ve seen it happen several times here over the past few years.

Another big buy might push it up to 5.

NICE have delayed it whilst they figure out their process.

"NICE are expected to recommend CYP2C19 genotyping for clopidogrel treatment in Ischaemic stroke patients in early 2024 when their paper on this is due to be published."

If this gets published in the next few months we'll see fireworks here no doubt, given the £220m total addressable market.

Riverfort sold some a couple of days ago which will have held the share price back, though I think that may have been the last of their shares. The share price will move up imo if this buying volume continues.

"Most people, and even many doctors, don’t realise that the risk of a second stroke is as high as 12.8 percent in the first week after a TIA (transient ischaemic attack)."

Faster results to help guide prescribing early

The Genedrive CYP2C19-test can be used within stroke units and provides results in around 40 minutes. This will give clinicians early access to important genetic information about their patients to guide their prescribing to best treat the patient. Using a genetic test to tailor the prescription of medicines to patients is called pharmacogenetics.

Potential cost savings for NHS

Our researchers also carried out early cost-effective analysis and found that using the test to guide prescription of clopidogrel for people who have had a stroke could provide cost savings for NHS.

Testing recommended by NICE

In May 2023, NICE produced draft guidance that recommends genotype testing if treatment with clopidogrel is being considered. Final guidance in due to be released in September 2023. We hope that this test will soon be able to be used by clinicians for this purpose.

"It's commercial arm and senior management however have been woeful for years and show no signs of any improvement." Roger

Senior management has a new CEO with proven sales experience in the NHS. Also he has restructured the sales and marketing teams...

"I have restructured both sales and marketing bringing them under the new leadership of Patrick Breen. I have also increased both the sales and the marketing teams to increase our capability both in the UK and abroad. I have spent time talking to the Health Innovation Network and sought their support in rolling out our test and overall everything is on the table as far as I am concerned in terms of improving our commercialisation efforts" JC

Sales started this quarter so I would expect some positive updates in the meeting later this month. We know AIHL MT-RNR1 is gaining momentum, it's being mentioned in new articles and papers every week.

James delivered tons of progress in the 2 months he had been working as CEO. I wonder sometimes whether people have actually watched the presentation.

The share price went up when announced Brighton adoption and again when he announced first orders to Europe. He’s not failed to deliver on his promises yet, it’s still early 2024.

That sounds like nonsense lol.

The company have been tweeting regularly and we can expect another Investor Meet presentation in a few weeks to coincide with the half-year report.

The last one was very productive and positive, I expect this one will be even more.

I recall they were hoping to begin trialing it at Manchester hospitals Q1.

It was shelved because the target markets were focused almost entirely on Covid, I recall also that WHO had some kind of issue later. It was looking really promising until Covid hit.

I remember Tomorrow’s World well lol.

Yes, Genedrive’s Hepatitis test was aimed at a very different market though in Africa and Central Asia.

Point-of-care (PoC) molecular technologies have emerged as a viable strategy for improving clinical management of HCV, as they facilitate diagnosis and treatment programmes with the possibility to work in rural, resource-limited settings.