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If you read this morning's RNS and were disappointed then I suggest you sell and buy something that requires less patience and a lower level of reading comprehension. But before you decide here is some analysis of the RNS wording to consider.

This morning’s RNS (April 8, 2026) is the "Sustained Durability" update that follows the initial excitement of February. This is a "De-Risking" event rather than a "Speculative" one.

The wording is incredibly disciplined, and when read in combination with other information from the company it reveals a very specific trajectory.

1. Analysis of the Wording: "Sustained" vs. "New"

The RNS uses the term "sustained positive safety and efficacy" three months post-dosing.

The Implication: In gene therapy, "durability" is everything. Skeptics often argue that the effects of a single dose will wear off as cells turn over. By highlighting that improvements were "maintained" at the three-month mark, Genflow is answering the biggest question a pharmaceutical partner would ask: "Does it last?"

The "Control" Contrast: The RNS pointedly mentions that while treated dogs remained stable/improved, the "control animals continue to exhibit expected age-related decline." This "divergence" is the statistical gold that proves the drug isn't just a placebo—it's actively fighting the biological clock.

2. The "Methylation Clock" Tease

Crucially, the RNS notes that "further mechanistic insights are anticipated from ongoing methylation clock analyses."

The "April Data" Connection: This RNS confirms that the data is currently being processed.

The Strategy: They are "walking the market up." They gave you the safety/durability news today to build a price floor (around 2.05p–2.15p), saving the Methylation Clock (the "proof of age reversal") for a second, much larger announcement later this month.

3. The "Partner Engagement" Language

The RNS explicitly states that these results are "supporting engagement with prospective partners."

The Change: Previously, they said they were "seeking" partners. Now they are "supporting engagement." This suggests that the partners are already in the "Data Room" looking at these three-month numbers.

The "March 2nd" Connection: This confirms why they did the smaller £800k raise in March. They only needed enough cash to get to today’s durability results and the upcoming UCLA results to ensure they don't have to sell the company at a discount.

4. Implications for holders

The "Step Change" is Loading: Today's news isn't the final "step change," but it is the foundation for it. It turns a "promising theory" into "durable clinical evidence."

Liquidity & Tight Register: As noted previously the register is tight. With the share price nudging 2.10p-2.20p today, the market is absorbing the "dilution" from the March raise incredibly well. There are clearly buyers waiting for the UCLA clock data to drop.

Test trades between different market makers automated systems.

The company posting about MASH

https://www.linkedin.com/posts/genflow-biosciences_mash-and-your-metabolic-health-tips-to-protect-activity-7439570287248965632-Jna3

If I had spare cash I'd be buying. I think the attitude that the dollar is a safe haven is going to be very temporary, the US economy is going one way only under that debt mountain, and whilst higher energy prices will bring inflation back the dollar seems least well placed to resist.

This may well be the opportunity China has been waiting for and why it's been buying up gold.

It's an AI article. Nothing wrong with it, but nothing new either.

The market is stalled waiting for the scientific data from the dog trial and any news on partnerships.

Patience is going to be a virtue here for a while, but should reward those that can stand the wait.

The market maker automated systems will do a variety of small trades like these to keep the market alive and latest trade price reflective of their current price. It's not treated as buying their own stock as the trades are for pennies. There was a 4 share trade today for example, someone lashing out a massive 8 pence.

Can be odd trades, can be systematic internaliser trades, but most likely just the MMs pinging to see what's out there on each other's order book.

It's likely that today Winterflood and Peel were out of sync on prices, hence buys going through at 2.1 but also 1.91.

The WINF/PEEL computers talk to each other. If Winterflood moves their "Ask" price down by 0.05p, Peel Hunt’s algorithm might automatically execute a tiny trade against them to "verify" the new price level. This is why you see a trade for £2.00 on the tape—it's just two computers shaking hands.

On normal volume days there is no need for these trades, the actual market reveals the prices, but slow days like today any price shift gets verified regularly by ping trades

Most of the trades today are the equivalent of the MM tapping their fingers. Tiny trades buying their own stock to make it look active. It looks like only one definite sell all day, the current spread is a distraction.

I don't think it will move even on the patent grant, the dog methylation clock data might give it a kick, but I don't think we will see any real jump until an animal health partnership is announced.

It's not the MMs that caused the price to move down, it's the lack of buyers. The MMs have to move the price to find transactions. If when they dropped the price there was a flood of buying activity then the price would soon rebound.

What that does is creates an opportunity to go against the market, if you have conviction that this price will be where most of us likely think it should be in a rational market then the price falling is a good thing.

The vet drug market is predicted to be $100Bn by 2031. If life and qol drugs could capture 10% of that spend to add 10% useful life I wouldn't be surprised.

Yes I know that's not just dogs, but large mammal treatments, for example horses, stud cattle, cats, zoo animals etc are all open doors.

Likely deal will be an up front fee plus a royalty rather than an open ended licence, so capital plus income stream.

I'd expect an 8 figure up front payment plus a chunky royalty.

There are multiple factors as to why only use 1/4 ISH of the possible issue.

1. Capital efficiency - raising now rather than post data would mean raising at 1.9 Vs a possible booster price post data.

2. Keeping powder dry for partner negotiation, not just in cash terms but also the ability to issue partner shares.

3. Opportunity to use the balance for a US institutional style market entry to the NASDAQ later in the year.

4. Lack of urgency need to allow 1-3 above to play out, the Wallonia grant plus this money comfortably gets them to post data and very likely allows the start of the Glaucoma work.

I think the raise being this small has multiple positive attributes, shares at the current price will have gone to tight hands only, and there is effectively zero dilution as the raise was at market price not a discount. Buyers were incentivised through the warrants which only become valuable if we all win.

Perhaps they expect to land a partnership within the time window of the cash from this minimal raise.

Perseverance, not before mid 2027, and not for a price anywhere near where we are.

Additionally on the what's next front...

The comments on the Glaucoma study are a potential game changer. I expect an announcement regarding selection of a LNP delivery partner to work with Iris Pharma on the six month study.

Unlike the Dog study (which requires waiting for 180-day biological clock results) or MASH (which requires long-term biopsy results), the eye reacts almost instantly. A PoC study for neuroprotection in the eye can yield definitive "Yes/No" data on SIRT6’s efficacy in as little as six months.

By moving into mRNA/LNP, Genflow has moved into the most active M&A sector in biotech. Pharmaceutical giants (like Moderna, BioNTech, and Merck) are desperately looking for "non-vaccine" uses for their LNP technology.

I think there is another possibility for what next. I think we may hear from Gad Berdugo, I'd like to hear themese if institutionalising the register and extending global reach. If this really is the last 'potentially dilutive' issue of equity then now would be the time for someone brought in to focus on corporate development to speak.

The only reason for him not to is a deal on animal health being imminent and not wanting to disrupt that.

We should be due a second RNS post EGM today, and I wouldn't be surprised if we got a third one declaring allocation of shares, but let's see.

Finding that Bayer is working on Crispr is not closely relevant.

Crispr is a well known gene editing technology that's been around a few years.

So far GENF have used AAV, ie viral vectors, naked DNA with plasmids, and are proposing to use MRNA lipid nanoparticles as their delivery mechanisms for SIRT6. Crispr is by contrast a gene editing technology used to permanently alter DNA.

Every major pharma company in the world is looking at gene based therapies in one way or another.

Marty - appreciate the effort , but just making stuff up isn't helping anyone.

You want to talk about real partners then you should notice UCB's presence on the partner page, or the mention of Merck animal health in the Oxford video being the source of the dog trial effort. If you are going to pick a German company then Boeringher Ingelheim are far more likely given their animal health market share.

I'm actually convinced Genflow have a different strategy than picking one of the giants to work with.

Their basket of therapeutic area initiatives look like eyes bigger than belly for a tiny company. However if what they are intending to do is pick a partner for each therapeutic area to work with, possibly like Merck in the dog trial or Iris Pharma in the Glaucoma one, and thereby establish SIRT6C as a broad spectrum low cost gene therapy which can tackle ALL , ie system wide, aging symptoms, then that will make the final sale price not large, if it works it will be vast.

Imagine they manage to show low cost broad spectrum age reversing plasmid based injections affect skin, bone, eye, neurological, muscle, liver, and brain aging. How much would that be worth? Billions not millions. Billions for just one TA.

The best bit is they have set themselves up to develop the Phase 1/2a picture with multiple partners, all of which would have to participate in the final 'buy me' auction, but also have an ownership structure that prevents early buy out. Large holdings by several key stakeholders prevent an early takeout, even at a seemingly daft price.

The market will catch up, the naked DNA dog results are potentially scientifically shocking. I half expect an animal health partner announcement following the AGM on Monday. Once approved they may well have a new cornerstone investor.

Well that's more than a bit interesting. Potentially takes years off GENF route to market, and has a corresponding impact on valuation

Perseverance - I agree, the vet partner will very likely already be on board and covered by CDA. They will either be announced just after the AGM as a cornerstone investor in the raise, or when the Methylation clock data is released in April. It's likely to be a catalytic event in either case.

Iris Pharma is a specialist CRO for opthalmology, but are unconventional in that they may co-invest in development programs. We have had nothing formal about them yet so I would expect something imminently there also. The opthalmology research may be a quicker route to validation than MASH if funded appropriately.

Great spot Perseverance.

But ...

Holy crap.

The "Naked DNA" efficacy in dogs is a commercial "black swan" event that makes the animal health side of the business worth significantly more than the current market cap alone. Like a lot more. Naked DNA is super cheap to manufacture and deliver in comparison to AAV. It puts the treatment in the absolute sweet spot for acquisition for animal health. But then the implications for human treatments are also huge.

This is now the strongest of strong buys. I've found ten baggers before, I thought this was going to be one. I was wrong. I've never found a hundred bagger before. This just might be it.