Member Info for Junior1618

Agreed Breen has been a disaster - why has the Board not acted more decisively and brought someone in that can actually sell. He was at Omega Diagnostics a few years ago - hardly a success story either. Whats key now is for direct sales to NHS trusts (like Peterborough) who may have been waiting on national commissioning of lab tests of CYP2C19 testing - its clear there wont be funding this financial year for either lab or PCT so the company needs to direct sell now. Wont be easy I concede but thats the only way forward IMHO.

Good to not got to!

Got to see you have bought back in Roger. I think the SP crash on Friday was well overdone so I will be buying back in tomorrow. I also think at these prices, the company is very vulnerable to a take over?

Is there a hope that they have had to do this just in case other funding options they mentioned in the recent trading update dont succeed. From the RNS on ' the Board continue to actively assess a broad range of financing options' - well whats happened to them?

Despite two world class products, the humiliation of yesterdays RNS is down to a total failure of leadership - what has the Chair brought to the company over the last few years? Networks / contacts / investment -= all NO. He fluffed his big decision last year making a very competent Scientist the CEX - clearly Gino's lack of sales and commercialisation of products has been a disaster given where we are at the moment. The CFO, probably very good at producing monthly accounts has shown in investor presentations to be useless at communications and inspiring confidence - no doubt this has been a factor in the inability of the company to raise funds other than dilution routes. Patrick Breen (Commercial Director) came from Omega Diagnostics - enough said for those that know the journey that company went on.

Its scandalous that as revenues didn't materialise as they forecasted they have made no attempt to cut costs and continue to spend hundreds of thousands of pounds on attending (sponsoring) conferences (both UK and internationally) that clearly have no return on investment. A proper CEX/Chair would have understood the implications of the NICE final recommendation last July in that there was going to be no significant revenue from CYP2C19 for at least 18 months (due to the pilot study) and made appropriate changes at that point.

All very sad but avoidable if we had the right leadership in place.

For any CEX to do this is absolute humiliation - Gino Miele is undoubtedly a competent Scientist but it was a big mistake to make him CEX, given the failure over the last 12 months to have any significant commercial traction of these two world first tests. Its disappointing too that there has been no success in securing non dilutive funding and it would be interesting to see what (if any) attempts were made in this respect. It also vindicates the poster (cant remember name) who managed to inform us all a few weeks ago that the CYP2C19 implementation plan / pilot study findings will not be published until mid/end Sept and the lack of immediate funding for lab tests. The company were utterly caught out in this respect and is another example of their naivety when it comes to NHS procurement - again indicating a lack of professional appropriate leadership.

Roger - what about your 'mate' in Manchester? Doesnt he know whats going on? Last week he was telling you all about the mass staff resignations wasnt he?

Roger - I think we can take what you say with a huge pinch of salt. Last week you were telling us that there was mass resignations from the company (no evidence whatsoever other than you had a mate who lived in Manchester) and you have consistently stated that Gino and his team are deliberately running the company into the ground to deliver it on a plate to a PE company. So I think we all know your agenda! If you really worried about the poster who forwarded info on from NICE, why dont you contact them yourself?

Agreed JH - I cant understand the share price drift with the implementation guidance so close. Gino Miele recently upgraded the annual UK market for CY2C19 testing to 18m and you can expect Genedrive to get a fair chunk of this. They have recently (Via Wallbrook) confirmed they WILL be EBITDA positive by latest June 26 so they must be very confident that revenue is going to transform in a few months. If I was a predator company I would be dead keen to snap them up asap at this rock bottom price before the SP reversal.

No comms since end May is a disgrace though - what have they been doing. I fear this is a result of putting a scientist in charge of a commercial operation.

Thanks Jimi - that sounds all very promising. Not long now until the implementation guide is published and hopefully off we go at that point.

Wallbrook were very clear in their language in their response to us - 'they will transition to EBITDA positive in H2 FY26' - not they hope to or they expect but they will. So for this to happen, national commissioning of CYP2C19 must happen so the company must be very confident this will be confirmed shortly.

By my own rough calculation I think before EBITDA positive is met, the company will need to raise between 1m-1.5m - this is based on an assumption that they a) have enough cash now until October and b) based on the worse case scenario they will be EBITDA positive at the end of H2 fy26 i.e June 26. I hope that they will bridge this gap through a non-dilutive method given their vastly improving sales prospects which should convince a lender they are in a good position.

A number of us have been in touch with Wallbrook this week regarding progress and the general lack of comms coming from the company - although the responses to various questions have been predictably bland, they have provided and element of reassurance and some context to the lack of news of late. Headlines are as follows:

- They are only permitted to announce material sales - they announced extending the use of CYP2C19 testing into ACS, as this is a large market opportunity. They also announced Peterborough City Hospital, as it was the first site (outside of the implementation pilot) to adopt the test and they saw that as a significant milestone, and they managed to persuade them to approve and comment on the release. The Company is balancing keeping shareholders as up to date as possible but maintaining competitive advantage by not disclosing every sale. (very strong hint here that sales are being made though)

- On MTRNR1 installations, there is no regulatory requirement to announce individual site installations. When working with the NHS, they are not allowed to do publicity, as they are a supplier of test kits in this programme and not the Principal Investigators.

- New website is simply a standard website revamp for improving functionality and will be live soon

- They will transition to EBITDA positive H2 FY26 - there was some confusion in Gino's investor presentation in June as he mentioned the second half of 2026 but it is H2 FY26 i.e from Jan 26- June 26 = not that long. To confirm this again now means they must have strong visibility of revenue to be at least 500k in a few months = very encouraging.

So all in all things seem on track!

Obviously not! A loan of some sort or CLN.

Guy - with respect, I think you have missed the point. If/when the CYP2C19 roll out is confirmed later this month, the company will be in a much better position to negotiate on some possible non-dilutive funding options before they become EBITDA positive in H2 FY26 (i.e by June 2026 but hopefully sooner).

The company recently upgraded the CYP2C19 annual market in the UK to 18m , so even if they only get a third of this over time, they will find it much easier now to attract non-dilutive funding options.

Mr Gilham wont want his name against a failure, you can be sure of that. Lets hope he is using his considerable experience, networks and contacts to secure some non-dilutive funding or teeing up a cash bid.

Buys being marked as sells again

I am no expert so advice would be appreciated - for a company to lower the nominal share value, do they need shareholder approval? Would they also need to demonstrate that they have tried other funding options that Jimi suggests and that lowering the nominal value is the last resort?

I agree that they are much more likely to be able to secure other funding options now they are so close to revenue/cost balance, so hopefully another fundraise wont be required. Thanks for any advice.

The lack of news is clearly impacting the SP but hopefully the bottom will be reached soon - given we are only 2-3 weeks away from the most significant news in the companys history (national commissioning / roll out of CYP2C19), hopefully the SP will start climbing as we head towards mid/end August. Some other update news would also be helpful along the way. I'm keeping the faith and topping up when I can at these bargain basement prices.

Simple Roger - I bought this morning at 1.27.