Meeting summary - CYP2C19 (Stroke drug reaction test) is the Golden Cow!6 Apr 2024 20:48
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.
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