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You ask a very good question that I've often thought about myself N5HAV.
Some on here spend too much time moaning about a share there not even invested in. I'm glad in a way many of them aren't shareholders - think of how much they would whinge if they actually had some skin in the game!?
GLA.
Stephen11.
Funding doesn't always come at a large discount as some have recently suggested, going by the history of the company. This info can be cross referenced from the RNS reports.
Past performance isn't always predictive of the future. That said, find some info on previous fund raises as below:
- 23 June 2016: at 80p per share which was an 11% discount on the mid-market price from 22 June 2016 (next placing was 29 months later as the company made money from the disposal of part of the business and received grants from the American Military)
- 16 November 2018: at 23p per share, which was the mid-market price from 15 November 2018 (No % share price discount applied). The next placing was around 18 months later.
- 5 May 2020: at 80p per share which was a 60% discount on the mid-market closing price from 4 May 2020. The next placing was around 16 months later.
- 10 September 2021: at 25p per share which was was a 40.1% discount on the closing price from 9 September 2021
- April 2023: The Riverfort drawdown
Next fund raise????
I think they'll go for a raise of around £5M - a years cash burn.
We should have natural revenue for the CYP2C19 test from July 2024 anyway, so the money can be used for FDA submission for the MTRNR-1 as JC alluded to.
GLA.
Stephen11.
If the situation is as dire as you describe then why would GDR have recently recruited a new person to be in charge of quality control and the regulatory processes involved with full validation in the various territories?
Good info sharing BigAl67 - appreciated!
Forgive me if i'm wrong, but did JC not say something about 2 new hospital sites becoming live this week for the MTRNR-1 in the investormeetcompany presentation?...an RNS tomorrow morning would be welcome!
GLA.
Stephen11.
I quote:
"As well as the ESIA study, the Company will also undertake more detailed subsurface work and plans to establish contingent resource estimates which will form part of the Feasibility Study.
How long might it take from now to complete this 'contingent resource estimate' and is there a possibility that this information will be published via an RNS prior to the Full Feasibility Study?
Thanks in advance,
Stephen11.
Funding doesn't always come at a large discount as some have recently suggested, going by the history of the company. This info can be cross referenced from the RNS reports.
Past performance isn't always predictive of the future. That said, find some info on previous fund raises as below:
- 23 June 2016: at 80p per share which was an 11% discount on the mid-market price from 22 June 2016 (next placing was 29 months later as the company made money from the disposal of part of the business and received grants from the American Military)
- 16 November 2018: at 23p per share, which was the mid-market price from 15 November 2018 (No % share price discount applied). The next placing was around 18 months later.
- 5 May 2020: at 80p per share which was a 60% discount on the mid-market closing price from 4 May 2020. The next placing was around 16 months later.
- 10 September 2021: at 25p per share which was was a 40.1% discount on the closing price from 9 September 2021
- April 2023: The Riverfort drawdown
Next fund raise????
I think they'll go for a raise of around £5M - a years cash burn.
We should have natural revenue for the CYP2C19 test from July 2024 anyway, so the money can be used for FDA submission for the MTRNR-1 as JC alluded to.
GLA.
Stephen11.
Stephen11
Here's the NICE aims:
"We evaluate new health technologies for NHS use, considering clinical effectiveness and value for money."
***CYPC19-ID test***
- Fast, accurate, and aids the appropriate treatment for stroke patients in a time critical manner
- Avoids the needs to send samples to labs and improves health economies via the correct administration of treatments
GLA.
Stephen11.
I quote verbatim -
"Genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, announces that the UK's National Institute for Health and Care Excellence ("NICE") has recommended in draft guidance that the Genedrive® CYP2C19-ID test should be used as the point-of-care ("POC") test of choice before clopidogrel administration in the management of Ischemic Stroke ("IS") and Transient Ischaemic Attack ("TIA") patients."
Here's my interpretation - Most important point - after full recommendation (July 2024) before clopidogrel is used for the management of stroke patients within the NHS, the Genedrive® CYP2C19-ID test should be used as the point-of-care ("POC") test - its that simple.
The NHS will no longer have the cost of sending away samples to one of the seven genomic hubs, nor incur the inconvenience of the two day turnaround, at what is a critical time for stroke patients.
This isn't a false dawn or jam tomorrow story - its the real deal and transformational news for GDR!
GLA.
Stephen11.
I would politely suggest you read the recent RNS below and watch the latest investmeetcompany presentation bootnk19222.
https://www.lse.co.uk/rns/GDR/nice-recommends-the-genedrive-cyp2c19-id-kit-489hhl9bfdpyhop.html
Type Genedrive into youtube and you'll get the presentation.
Best wishes,
Stephen11.
Very briefly - as most will know, pharmacogenomic medicine guides treatment decisions and dosing using genomic data to predict drug responses. Specifically, in terms of the CYP2C19 stroke test, this can predict which patients would have an adverse reaction to the drug Clipidogrel - alternatives drugs can then be administered in a time critical manner.
Now, what we do know is that it is a near certainty that the CYP2C19 will receive "Full NICE validation in Jul 2024". This will then allow the test to be adopted and paid for by the NHS around the UK - this is a gamechanger and the best news GDR has had in a long, long time!....no gather more data, apply for grants, and jump over hurdles - it happens July 2024.
The total UK market is said to be worth around £8.2M per annum - lets think about this:
* Genedrive sales revenue in the last year = £250,000 approx against a cash burn of £5.05M per annum (ie., 12 months x £421,000)
* Post July 2024 Genedrive should get a sizeable chunk of £8.2M (the addressable UK value of the Stroke Test market) as natural revenue
I'd like us to get the fundraise out of the way quickly and look to the future - get the elephant out of the room.
When revenue starts to flow in July 2024, the fundraise can really be used to fund FDA for the MTRNR-1 as sales will cover the monthly cashburn - hallelujah, at long last!
I think we'll see a steady rise is the SP as we approach July 2024 and then a small increase on confirmation - the SP will build the confirmation in over the next few months - maybe a buy the rumour, sell the news type of rise - we've all seen it happen before.
I thought the MTRNR-1 would be GDRs saving grace, though i now think the CYP2C19 stroke test is the:
"Golden Cow"
GLA.
Stephen11.
Ps...i'll post a more detailed breakdown of the meeting soon - just back from an Easter break.