Member Info for Muminr

Thanks for that link Lionel.

I think it’d be beneficial if the company issued a more fleshed out statement on the foray into lab based testing.

Whilst existing investors are familiar with the potential of our niche time-sensitive tests, the wider market may take more notice of laboratory tests, as pharmacogenomics is becoming a more widely recognised nascent industry.

Yes it seems odd to preannounce a very large purchase, but he was spot on about DN before the rest of had any inkling of what was going on.

Hi System, my average is similar to yours. I'm hopeful we should certainly break even and also be in profit within 12 months. As others have pointed out, the company is poised and following any positive FDA decision, a SP of 7p is not unreasonable in my view.

Thanks Nissan. Your evidence is certainly later - January 2026 - so yes, the FDA application is anticipated next month. Great!

On the boardroom changes the analysis is very positive about DN's involvement:

A major shareholder on the board, no fee until EBITDA‑positive, is a strong vote of confidence and reduces the risk of a “founder dump” or opportunistic selling.

Are we sure about the June 2026 FDA submission for CYP2C19?

My AI analysis refers me to the 2025 final results (December 2025) about the CYP2C19 FDA submission:

“The FDA 510(k) submission for Genedrive® CYP2C19 ID Kit was originally planned for early 2026. However, recent financial constraints affecting the required in‑country studies are expected to shift the submission timeline toward Q4 FY26, subject to securing the necessary funding.”

The announcement also notes the funding condition explicitly:

“(pending certainty of cash runway) submission under the 510(k) pathway planned for late‑Q4 FY26 with an expected 3–4 month subsequent review period.”

So the RNS itself contains the key sentence: originally early 2026 → now shifted toward Q4 FY26, subject to securing funding. The later March 2026 raise then improved the funding picture, which is why the market’s interpretation has since loosened back to “around June 2026, pending completion of studies”.

Yes, the product in the Facebook post is the Genomadix Cube. NICE view is it is only recommended when lab‑based testing and the Genedrive kit are not available.

Why do you think NICE is 50/50 Stocksaint? There has been positive indications for all 3 questions that NICE need addressing: test reliability, time to antibiotics and the economics? I think approval is now highly likely. I agree with you about FDA.

That’s an unusually optimistic prediction from you Stocksaint! I agree with you 4p would’ve minimum on positive news.

I agree with Lionel, we should get full unconditional NICE approval. I think last time round with the new EVA process, which ended up kicking full approval down the road for 3 years, everyone was surprised including NICE!

I think evidence collection will end by May, and there has already been some indication that things are looking positive ( NICE blog post). Perhaps it’s the evidence generated, that they’ve been privy to, that made DN and others so positive.

I understand your frustrations.We were all disappointed with that NICE decision on MTRNR1 back in 2023. (Credit to Stocksaint for calling that correctly). Since then we’ve been generating evidence for full approval. Evidence generation for that ends May 2026 and the NICE full review/decision is Oct 2026. I wonder if Messrs Nugent and English, having signed an NDA, have been privy to this information.

Prof Newman’s post in the NICE blog recently addressed positively each of the NICE evidence criteria.

1) Time to Antibiotics (25-30min results; no pathway delays confirmed).

2) Prescribing Decisions (How results change antibiotic choice in 20 cases)

3) Failure Rate ( Real-world failure improved 15% to 5%).

I think in October we will get full approval, God willing.

Routine NHS adoption could drive £5-10m+ annual recurring revenue for MT-RNR1 alone!

I confess to not understating the FDA process fully but if that approval comes before October 2026, happy days!

Of course, talk of takeover may be completely unwarranted. The trio, especially DN and RE having seen all the info, may simply believe great days lie ahead for the company even in the short term.

I'm inclined to believe this, especially given the likely positive results to go to NICE end May regarding MTRNR1. Lionel's posted the piece by Prof Newman on the NICE website which was very positive.

You're absolutely right FB, my AI info is clearly out of date. So those predictions should be around 40% greater. If those predictors are correct, a takeover would not be too shabby?

My AI gives the following prediction:

At today’s price (~1.07p, mcap ~£11.5m), a realistic takeover offer would probably sit in the 2–4p range, with a wide upside band (~2–6p) depending on timing and how much value a bidder ascribes to full NHS/FDA success.

How that range comes out

• Starting point – current value

o Share price ~1.07p; market cap ~£11.5m post-raise.

o Any credible bid needs a premium to this to get Board and shareholder support.

• Typical M&A premiums for small-cap biotech/medtech

o Deals often come at 60–100%+ premiums for strategic targets, sometimes more if there is clear regulatory/commercial upside.

o On that basis alone, you’d expect roughly:

Low case (~60% premium): ~1.7p

Mid case (~100% premium): ~2.1–2.2p

High strategic (150–200% premium): 2.7–3.2p+

• Strategic / success-based view

If a bidder believes:

o MT-RNR1 becomes routine/funded across NHS + Scotland (£7m+ UK revenue potential).

o CYP2C19 gets FDA approval and gains share in US stroke/PCI pathways.

Then they’re effectively buying a business that could plausibly reach £20–30m+ annual revenue in a few years. On sector multiples (2–4x revenue or ~10–15x EBITDA for a profitable small-cap), that supports a £40–90m equity value, which divided over the enlarged share count translates broadly to 3–6p per share.

My ii account is showing my full entitlement of shares applied for plus about 3/4 of additional shares I applied for. Obviously it's all subject to approval but I wonder how they can arrive at those quantities at this stage?

I have to agree with all the positive sentiment. We’ll be funded for over a year and in that time we should get FDA approval for one of our tests. In the mean time more and more NHS Trusts should sign up for both tests here, as well a strong likelihood of a Saudi contract.

Spot on Bighammer. The market appears to agree with you on that if you look at the SP post the new placing RNS. Yes, dilution isn't great for LTHs but sometimes you have to take a step back in order to jump further forward. This placing is one of those events.

Rest assured Saintpeter the funding RNS limited them to a 30% cap - that's the key threshold.

Could be Wavefinder; we're waiting on news regarding the hospitals(s) that will participate initially.

DN is capped at 30% of beneficial shareholding post the equity raise/loan conversion. He owns 18.13% (185.8m shares) per latest RNS. In the placing he will subscribe to £1.5M and convert the £0.5M loan. So why is he increasing his stake now when he is likely to be around the 30% cap post raise?

I think it must be because he thinks there's some news round the corner that will increases the SP before the raise, meaning his £2M conversion will not take him near the 30% cap.

Hi Andrew, Like you I intend to take part in the placing as much as I can. There is the possibility of course that the placing will be at a higher price than the current SP. I wonder if DN's recent buying is indicative of that.