RE: NHS using PCR tests still…17 Sep 2022 09:56
I was in Addenbrookes, Cambridge for a small surgical procedure 10 days ago. No Covid tests of any kind. Didn’t even have to answer any question on a form, just a verbal one and when I said I’d have Covid at the start of July the response was ‘ok that’s fine…’. The only thing they insisted on was everyone wore a new one of their light blue masks. The Covid POC test by GDR is one of Budd’s duds. No requirement for it anywhere for now. Unless there is a really nasty new variant that causes extraordinary hospitalisation figures I just can’t see anyone paying for it.
It’s all about genomic testing and the AIHL and stroke assay are next up. Either of these could rescue GDR financially but AIHL is one year away from receiving NICE guidance as ‘best practice’ - and I’m sorry it’s already been established there is no fast tracking for that kind of testing kit - and any income would only start rolling in once a significant number of NHS Trusts have adopted the machines and are using them regularly. Thus, in my view GDR’s potential is still excellent but it’s at least 18 months before there is any possibility of a 6 month report from Budd detailing a serious level of income.
The stroke assay I know less about and I’m not sure if that can be fast tracked. If it could then it would actually overtake AIHL in the race to rescue to GDR.
The big question is how to establish financial stability over the next 6 to 12 months. Budd can’t let the coffers get dangerously empty before doing another placing so imv he’ll take it sooner rather than later whilst our cash position still looks ok (from a position of strength and all that).
Anyone who says there will be no placing is naive and obviously hasn’t felt the personal frustration of year after year being told we’ve still not sold anything but things look great for the future…oh and we’ve done another placing just to keep things ticking over.
If sales really have been disastrous then Budd will know now that income isn’t likely to suddenly spring up out of nowhere over the next 3 to 4 months and that would take us dangerously close to finding ourselves in a tight spot when going to the market and looking for further funding.
End of Sept or now possibly Oct I think we’ll get an RNS quickly followed by a placing then that gives Budd some time to find something positive to say before the AGM and secure his £300k pa. Then back to silence for most of 2023 until Sept and that advice from NICE. At that point things will hopefully start to really kick off. Exciting prospects but share holders need a dollop more patience and just turn a blind eye to the next placing when (ok if) it comes.