News Flow - Dec 23 and Jan 24 - the facts!6 Dec 2023 12:36
We are also hearing a significant amount of misinformation about a placing. Might i remind everyone that Q1 doesn't start to 01/01/24 and ends on the 31/03/24 - lots can happen before then, as i shall detail later.
And, its a fallacy to say that any placing will be at a significant discount, as proven over the last 4 years. I'll post a history of the placing in the last 4 years later.
In any case, James has eluded to the placing being used for FDA submission. RF drawdown, the incoming tax credits, devote funding, Medtech funding, and commercial traction can be used to cover monthly cash burn.
See news flow for Dec 23 and Jan 24, summarised from the presentation with comments from James Cheek attached:
- Revenue in the UK and abroad for MTRNR-1 hearing product (Sussex Trust already life)
* Expecting to see orders from around Europe in Dec 23 (EU Market worth £46.75M annually) and more UK Trusts
- Promotion of MTRNR-1 through Health Innovation Networks
* Talks ongoing with Scotland and Wales
- Special Commissioning for MTRNR-1
* James states "Pretty much got absolute 100% clarity that it is happening" (UK market worth £8.5M annually)
- FDA registration for MTRNR-1
* James states that contracts with a US partner for FDA are being finalised and we should hear news this year or early next, on the back of extremely positive talks with the FDA (USA market worth £34M annually)
- NICE recommendation for MTRNR-1
* NICE full validation for the MTRNR-1 is being hindered by the EVO process itself and not the product. News due Jan 24 says James Cheek
- NICE review for CYP2C19
* News due Jan 2024 says James Cheek (UK market worth £8.5M annually)
- Testing in Manchester Trust for CYP2C19 and Europe
* Testing for the adverse reaction to Clipidogrel in stroke patients to roll out in Dec 23. Also being actively marketed around Europe as a research only product (EU Market worth £93.5M annually)
- Future funding activities to support FDA
* Support of US partner and specific fundraise for FDA in Q1
GLA.
Stephen11.