Read the full RNS not just look at a number5 May 2020 11:53
I feel sorry for those who panicked and sold today, there is no need, even with these shares added the number of shares in issue is still tiny for what this company is about to achieve. A lot of sudden derampers (bears) turned up who had never been on this board before.
Every stay calm, both bulls and bears, the underlying fundamentals is excellent, don't allow an RNS blind you to what this company is achieving. If you think this company will be less than £3 in a few weeks when production is started with less than 50 million in issue you are having a laugh. Do the basic numbers, at around 48 million shares at £4 a share thats approx 192 million mcap. That is still below NCYT and GRD have better tests which are more effective. They also have the new hepatitis test now prelisted via WHO and they have the infant hearing drug test which is going to be massive for a lot of people.
This company is going places and you have to spend money to make money, nothing comes for free, so don't be so greedy and expect to make your millions in a day. In a few weeks from now people will be kicking themselves they didn't buy in at this current price.
Keep in mind this part of the RNS just released that most probably did not bother to read...
"On 20 April 2020, genedrive announced that it had entered into a development agreement with Cytiva (formerly GE Healthcare Life Sciences) to allow for high throughput manufacturing of over 10,000 tests per hour. genedrive has also secured sufficient supply chain commitments for the most critical components to enable the manufacturing of six million tests. The Company anticipates launching the Genedrive® 96-SARS-CoV-2 in May 2020 at an estimated price of £8-10 per test. The Company will address the market on a non-exclusive basis with sales through an appropriate mix of distributors and direct to customers. The Directors believe that based on its sales volume forecasts and estimates of selling prices in the market, the Company will be able to achieve attractive gross margins of at least 60%, noting genedrive does not fully absorb labour costs into its margins."
Gross margin of 60%, the BOD are not stupid they know they have a real gem, be smart like them, they have got this company this far that takes intelligence, that is what you want to invest in.