Member Info for JimiHendrix

It was delayed a month ago or so, I noticed back then that the consultation had changed from March to April. So whilst it has been amended it’s not a recent change. No explanation or mention from the company as to why it was delayed though.

It hasn’t been amended, I took a screenshot several weeks ago and it’s the same.

I think that 26.76 40k was probably a sell, there were a couple at that price amongst the 27p buys.

I understood it to mean Riverford can begin selling the initial 6,500,000 shares when they’re issued which is this Thursday…

“Application for admission to trading

Application will be made to the London Stock Exchange plc (the "London Stock Exchange") for the admission of 6,50,000 new Ordinary Shares ("New Shares") to trading on AIM ("Admission").

It is expected that Admission of the New Shares will occur at or before 8.00 a.m. (London time) on 6 April 2023.”

“The Board is confident that the Company will see an increase in revenues through 2023 and going forwards. The recent NICE recommendation, given the health benefits and health economics, is expected to facilitate the rollout of our AIHL product in both the UK and international markets (subject to relevant regulatory approvals).”

Only bit in the RNS bothering me is the additional funding required bit…

“ The US market represents a significant opportunity for the Group's AIHL test and an FDA "pre-submission" process is currently underway however additional funding would be required to progress the FDA approval process. The Company remains engaged with the FDA in the pre-submission process and, as such, is not at a relevant point in discussions to announce possible next steps.”

Wish they would have said how they’ll obtain it, it won’t be from the drawdown facility.

The only uncertainties are they said they will need additional funding for FDA, no mention of how they’ll obtain that. And regulatory processes to go through for internationals, I was hoping NICE would be enough.

All good other than that.

I’m surprised they didn’t buy any when it was 10p. I wonder if they will take part in the fundraise.

Must admit I did expect the drop today but thought it would have risen 10-15% first. It was odd because a lot of those red trades at 38 (if not all of them) were buys, I did some dummy trades at open and it was 38 to buy and 36.5 to sell, the market makers didn’t seem to care and took it down regardless… and then it was a mixture of buying and selling.

Yes fantastic to receive the final NICE recommendation this morning. I expect we will hear very soon that several more regional NHS neonatal units will also be joining the rollout and that orders are coming in from other countries (via our many recent distribution partner deals) who will have been waiting for NICE’s final recommendation decision this morning. As it says in the RNS, NICE is a internationally respected health authority.

I think there will be a rally into close this afternoon, and a decent rise tomorrow morning (or whatever time the NICE decision is announced). Market makers are very quick to mark the actual ask price up as soon as a flurry of buys or a single large buy goes through.

Very difficult to buy this morning, quoted over the ask every time. It’s going to shoot up in a minute.

Some people are probably being cautious and taking the viewpoint that the NICE news is fully expected and might be priced in (considering the 300% rise).

I think it’s partly priced in, but as there will still be new investors who won’t have heard about Genedrive until the Thursday RNS arrives there should still be plenty of buying.

And of course it is possible that the RNS will include details of a fundraise aswell as NICE. So some will be waiting to see the RNS before buying in and will help push the price up on the day. The fear of a placing being mentioned in the RNS may reduce the chance of a typical ‘sell on news’ reaction that often happens when news is expected.

The selling this afternoon is just typical Friday afternoon trading behaviour. Forward selling by market makers involved in a placing would be indicated by lots buys from private investors that aren’t affecting the share price, imo from what I’ve seen with other companies. Quite the contrary at the moment, the share price shoots up on any decent buying.

Just the usual Friday sell off today, we’re fairly flat which is good considering the poor market today across the board. It’ll fly again next week!

I’ve had various theories, I’ve been suspicious at times of the rise over the past few weeks, and wondered whether it has been partly driven up by market makers forward selling placing shares. And then suddenly a load of new accounts appear all trying to spread fear and push the stock down - perhaps involved in the placing and trying to get the price as low as possible for maximum profit (a low placing price).

But on the other hand I expected a big drop this week from a technical point of view. So perhaps these derampers are simply trying to get in low before another big leg up towards 50 next week. All the fear Mongering about a placing is helping push the price down to a good support level, out of ‘overbought’ territory, an attractive price to buy in especially for those who sold at the 45p resistance level.

Either of the above could be true for all I know! The NICE final appraisal could trigger sales in Europe very quickly, plus there’s the stroke test launch and possible grant money. Plenty of things to keep the share price high, and therefore imo no imminent rush to announce a placing, that doesn’t mean that a deal is not currently being worked on, I expect they’re talking to several potential participants or lenders.

I’d expect a little bit more drop before support is found. We’ve had 3 big rises so far this year and the first 2 both pulled back to around the 26ema losing about half of the gains, before then rising further and breaking new highs.

This is just a natural pullback after almost 3 weeks of constant daily rises, imo. Technically the share price was overbought and after hitting technical resistance around 45 it wasn’t going to go much further without a proper breather.

I’m expecting a placing at some point in the next 1-2 months but not yet, they’re funded until the end of June (or later if they receive grant money or sales).

Yes and sounds like NICE news will come earlier than expected… “towards the end of the month” …could be next Monday.

“ The implementation project, scheduled to commence from April, will follow the NICE final recommendation for the use of the Genedrive MT-RNR1 ID test in the NHS (England and Wales) which is due towards the end of this month.”

Yes TheWatcher, my understanding is that further data will be gathered over the coming months from the NHS hospitals taking part in the initial rollout (2 of those mentioned yesterday). It’s unclear how long this stage will take, but that data will guide the decision for widespread NHS rollout.

Does anybody know if ‘forward selling’ is still happening in the markets?

Theres is usually a bit of a sell off on Friday afternoon as people close out positions before the weekend. I expect many of those Friday afternoon profit takers will be buying back in tomorrow.