Member Info for rbr08

Would be interested to know opinions on what is currently happening: depressed news flow, quick reactionary responses framed in a way to dampen sentiment and silence from Walbrook for many over the last week.
All as we approach the end of Q2 (which was meant to have some updates).

Walbrook's website seems to be down?? Not sure if its just on my side

Trickymatters, I'm not sure how many times we have to say GDR already have full access to the EU via the CE mark since May 2020. READ the RNS: https://www.lse.co.uk/rns/GDR/genedrive-96-sars-cov-2-kit-receives-ce-ivd-mark-gy5g0vm7nhxxeub.html

I have been in GDR for more than 15 months and can say we have been ont he WHO list since middle of last year. WHO never had loads of PCR test approvals - you can confirm this by the number they have approved. They are just not putting much resources to test approvals as it does not necessarily bring anything major. The big markets - US, UK, EU, India all have their respective approval procedures and regulators. Ad they only update every Tuesday/ Wednesday so you will not get any more info until next week - unless we get an RNS.

Trickymatters - EU approval is already achieved since May 2020 with our CE mark status - this is all that is required to sell into all of the EU. Its on this basis we have been in discussions with an EU MoH for example (though it seems to be a dead horse customer right now) and why Beckman is our distributor into the EU.
WHO application has been in since the middle of 2020. Its too slow of a process - appears that WHO had less resources focused on the testing side as opposed to vaccine side of approvals. You can tell by how many approvals were processed on a monthly basis and the last PCR test approved in Dec 2020.

Roger65: this scenario has been a strong possibility to me for a while now.
1) Walbrook confirming to me and others that GDR has been in a closed position since last summer.
2) BC very much invested in their online presence for the PCR kit - testing the market with one product first (though some may disagree)
3) Delays to POC - which could be linked to BCs involvement now.
4) And just the pure lack of updates - seems to me as there could be other people pulling the strings.

All that said, £1 buyout (approx £63mil) is way too low for the product line of GDR.

Pacman: we have been 6th on the list for quite sometime. For the last 3 weeks, including todays update, we have been listed as 'Dossier review = R' (Info requested)

I'm not aware of any PCR list, just a Rapid Antigen test approved list. can you share the PCR list

Tricky matters - our PCR COV 2 is CE marked. This allows us to sell to all of EU.

@RiskIsReward: The webpage you are looking at is outdated and not updated. The POC kit was designed to to have a positive result in 15mins and a negative result in 20mins. You can confirm this by referring to both presentations (Nov and Mar) and in the Results RNS' as well.

My only bit of advice would be to not be ahead of the finish, with regards to DIVOC and our current relationship. I say this based on 2 items:

1) Recently I have been in contact with Walbrook and got replies. However my last question about our current relationship with DIVOC has not been answered.

2) I have been involved in Marketing and PR - and in regards to news articles not all the time do you get privy to view the article before release. Why I raise this point, is that the last line "To address the immediate need for India to possess access to high-quality COVID19 Tests DIVOC is bringing GeneDrive RT PCR COVID19 Tests to India" has been used in a couple other articles AND while small, they keep spelling GDR incorrectly - capitalising the 'D'.

I do hope that if we are not using DIVOC anymore, that we have either via BC or another effective distributor, been working some potential deals.

@Pacman121: thanks for the reply. Yes, your point raised a new angle as to what could be happening - that's what sparked my interest in your statement. We know that BC don't release their numbers unless they really want to and GDR are very coy in communicating anything to us. So to support these two scenarios it could well be that direct sales are occurring between Cytva and BC. Wishful thinking or reality, who knows!!!

Pacman121: nice write up! I can agree with the call for:
1) Change at the board level and a more structured and formal communication strategy (as opposed to the subjective adhoc approach now employed).
2) Revision of bonus structure to be one aligned with revenue/profit and/or other transparent and measurable KPIs.

One question I have is to the accuracy of your statement that BC can/are ordering directly from Cytiva and therefore are able to by-pass GDRs , thus allowing GDR to remain silent and support BC's mute status on their numbers?

I was told by Walbrook that we may get an update in July

PinkInc you keep putting up news from the past. Get with the time mate!

Yes drlong, we all know what the consequence of no sales are - so lets not regurgitate the obvious. We can only wait and see what happens from now till the potential update in July.

Drlong, when you say we charge charge 70 quid per test, who is the 'we' you are referring to?

I agree with Dave re: the 11th hr notification of the POC delay which would have been known well in advance.
I would be curious to the response if someone else put the question (why can't we have quarterly updates) to Walbrook. When I asked in April I was simply told my comments would be forwarded to the GDR team.

But its ridiculous that we have 2 presentations a year and then we speculate the life out of this company in between. The notion of "we update when we have material news" , should be applicable to all aspects - sales, commercial partnerships, new products, approvals and delays, dead deals etc.

I have asked Walbrook recently and they have said:
when GDR makes material sales, they are obliged to update the market.

But one has to ask if it looks pretty big, where is the pretty big numbers from genedrive?
We keep adding pages to out book of assumptions!

1) "You noticed BC have a genedrive type product". What do you mean by this?
2) I'm not sure what you know about Genedrive as we don't only have one product. But that aside, are trying to say BC have FDA approval for a PCR test? If so, Im not sure where you see that, so please provide more info
3) Did you read our RNS on 9th March to understand what the BC partnership means?

Where do we stand?
1) Does our PCR test have any short-term (1-3months) sales conversions in advanced stages - in any of our approved countries i.e. UK, EU, India, South Africa, Thailand, Malaysia?
2) Have we shipped any more products to BC? (If BC are private and therefore work to a different beat, GDR is public and therefore shall advise the market of their sales)
3) Is the non-EUA access to the US market working at present via BC?
4) Is there a Plan B/C/D…. for US FDA EUA?
5) Is the EU MoH now a dead duck.
6) Is the POC launching in the next 3 weeks, to remain within the revised Q2 target?