Member Info for JimiHendrix

JC also said he is very confident he can sell the stroke marker test before regulatory approvals have been received, research and development purposes. He said there is a large amount of interest in it (it's the best test out there and the only test that is truly POC) and the market is massive.

JC came across very well, really positive stuff and huge relief to hear how focused he is on commercialisation, the conversations he's been having and that they are expecting sales in Europe before the end of the year... confirmation of that will be enough to send the shareprice above 16p imo.

Also encouraged to hear they are expecting something to happen regarding AIHL and NICE in January as well as NICE guidance for stroke marker test the same month.

Additionally he confirmed there has been rollout of AIHL outside of the Manchester area, details will be announced soon.

Funding required for FDA, though this was always expected. He discussed how they've partnered with companies in the US who are helping them to greatly reduce the costs usually associated with FDA review.

They've literally just said they are expecting sales in to Europe next month.

Read the rns again it makes it clear that this is because there is uncertainty regarding RF drawdowns. Also the tax credit alone takes the runway to end of q1.

Lol, sadly nothing. If they were paying me though I would distribute it to shareholders.

I think there has been an over reaction here this morning, mms just took it down despite many of the red trades being buys. Having properly digested the rns and taken in to consideration that we had a drawdown yesterday it seems likely RF will allow further drawdowns which will negate the need for a separate fund raise.

It's clear that decent recurring revenues are likely to come in the next 1 -2 years so it's just buying time. Grants and potential partners will help, but crucially RF will know the potential and will not want their shares being diluted so I believe they will ensure GDR have the finances they need without sacrificing their own investment and future (pretty much guaranteed) huge upside when commercial success is achieved.

It's in RF's best interests to provide funding, they aren't going let another investor come and dilute the millions of shares that they have been issued over the past few months.

One thing's for sure, with all the millions of shares RF now have they are not going to let Genedrive go bust and they are not going to want the company agreeing to any dilutive placing. So I think it's fairly likely that RF will allow drawdowns to resume in return for shares, which is obviously what must have happened for yesterday's drawdown to take place.

Sales will come from AIHL and the stroke marker test as soon as necessary approvals have been received. Pre-covid the company used to make decent sales from previous assays, the next 2 years will be a very exciting period here imo.

"The Company is confident that given the health benefits and economics that RNR1 will be a commercial success. The NICE EVA (Early Value Assessment) recommendation is testimony to it. Our CYP2C19 product is now at validation and verification stage and has a much larger potential market than RNR1 with a far less complex route to market."

Everything is on track, the huge potential is still there. The stroke marker test should get NICE approval before any funding is needed and with a far less complex route to market it could result in some much needed revenue far sooner than we expect.

This is obviously positive too "we are confident that significant revenues will follow"

"We are beginning to gain commercial traction, RNR1 is in routine use at a small number of hospitals and with the appointment of international distributors, language packs and registrations complete, we are confident that significant revenues will follow. NHS specialist commissioning would expedite this, but as we are not in control of the process, there is uncertainty as to the timing."

So if they can resume drawdowns and if they receive the expected tax credit in Q1 then a placing would presumably not be needed at all. The tax credit alone takes the cash runway to March/April. I would think they will manage to agree something with RF to resume the drawdowns.

"This short-term funding requirement is partly as a result of the uncertainty of further drawdowns from the Investor Placing Agreement which are conditional on certain factors including the Company's share price. The Company remains in close dialogue with the investors, further drawdowns would extend the cash runway and therefore the timeline for our planned financing activities. The Group does also expect to receive an R&D tax credit of c£0.8m in Q1 of 2024 which, if received, would extend the cash runway (absent any further funding received) towards the end of Q1 2024 and provide a longer window for our planned financing activities. As well as equity or debt financing we are also actively seeking non-dilutive funding such as grants, funding partners for the FDA approval and charitable organisations willing to support the adoption of our quality-of-life enhancing innovations."

No Gloria lol, it just means they haven't done anything about it yet... eg. taking the necessary action to become a millionaire :)

"We are continuing to work closely with the NHS to secure specialist commissioning funding for our MT-RNR1 product, as well as finalising our 2024 sales strategy and distribution channel for our new CYP2C19 product. With our commercialisation strategy including the US, we have recently completed a pre-submission exercise with the FDA which has, with no predicate device, clarified what would be expected to fulfil for release in the US of our novel MT-RNR1 test. We are now looking at funding options to take us forward for FDA approval for the MT-RNR1 product, with substantially all of the exploratory groundwork completed we are ready to proceed to the next step."

Yeah but they can sell the 3 million shares whenever.

They’ve had to issue another load of shares to keep the facility going. If you look at the initial drawdowns back in the spring they didn’t issue millions of shares (as far as I remember) per drawdown (only warrants) so I believe they must have had to strike a new deal with RF recently due to the sp going below 16p.

We’ll find out the details tomorrow I imagine.

This was the update on the NICE website last week…

“ Following the committee meeting on 28 September 2023, the External Assessment Group (EAG) have completed further analyses as a result of points raised during the committee discussion. The next steps in the evaluation will be delayed to allow this analysis to be considered. The topic webpage will be updated with the revised timelines in due course.”

https://www.nice.org.uk/guidance/indevelopment/gid-dg10054

1 million buy just showing up.

I believe as it stands we have enough funding until around August/September 2024. Plus we will receive another £1 million for R&D ...and on top of that I'm expecting drawdowns may resume early 2024 from RF which will put us back in to a pretty comfortable position.

I'm referring to the past 3 months, whilst any recent sales won't be in the financial report the company will take next Thursday as an opportunity to introduce JC properly and talk extensively about anything positive achieved since he has joined and about his specific commercial plans.

Yes everything 8p and above today have all been buys. Should move up leading to results next week, I believe they will have some positive news on sales.