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Prices & Quotes - UK Markets - Genedrive (GDR)

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Share Price:
Up 20.25p
Change Today:
1.75p
Market Cap:
18.68m
Sector:
Medical Equipment and Services

Revenues fall, losses narrow for Genedrive

By Josh White

Date: Tuesday 09 Nov 2021

LONDON (ShareCast) - (Sharecast News) - Near-patient molecular diagnostics company Genedrive reported revenue of 0.7m in its final results on Tuesday, down from 1.1m year-on-year.
The AIM-traded firm recorded a loss of 0.7m for the 12 months ended 30 June, narrowing from the 19.4m loss it reported a year ago, while year-end cash slimmed to 2.6m from 8.2m.

Its balance sheet was debt-free, following the conversion of 2.5m in loan notes.

Genedrive had unaudited cash of 7.3m as at 31 October, after a successful equity fundraise of 7.1m in September.

On the operational front, Genedrive noted the successful completion of trials in antibiotic-induced hearing loss in June, with 750 babies tested, accuracy confirmed at 100%, and a launch with key opinion leaders ongoing.

Since the end of the financial year, the new Genedrive system was CE-marked, with the product launched on 29 September.

Mountain Horse Solutions was appointed as the firm's specialist US military distributor in March, to drive adoption in the US military, while point-of-care Covid-19 studies to support the final CE submission stage were due to complete "imminently".

"We are at an exciting phase for the company with both the AIHL and CoV-POC products about to enter their commercial stages," said chief executive officer David Budd.

"Our balance sheet is strengthened following the recent equity raise and we are well placed to drive shareholder value going forwards."

At 1444 GMT, shares in Genedrive were up 0.13% at 19.22p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Genedrive Market Data

Currency UK Pounds
Price 20.25p
Change Today 1.75p
52 Week High 147.58p
52 Week Low 17.50p
Volume 4,221,940
Shares Issued 92.27m
Market Cap 18.68m
Beta 0.14

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Genedrive Dividends

No dividends found

Trades for 26-Jan-2022

Time Volume / Share Price
14:29 47 @ 21.00p
14:28 50,000 @ 20.05p
14:28 4,065 @ 20.05p
14:26 49,633 @ 20.16p
14:14 25,568 @ 20.56p

Genedrive Key Personnel

Finance Director John Rylands