Sign up Australia
Proactive Investors - Run By Investors For Investors

Genedrive -On Track to Launch the First CE-market Decentralised HCV Test

Genedrive -On Track to Launch the First CE-market Decentralised HCV Test
  • Overall Genedrive PLC (LON: GDR) reported a business and financial update for the six months to December 2017 in line with expectations
  • Launch preparation of Genedrive® HCV test with partner Sysmex on track, expect sales to start coming through in CY2018
  • £1.3mln income from the ongoing collaboration with the US DoD, in line with expectations
  • Discussions for the disposal of the Services business are in progress
  • With £4.6mln of cash at end-2017, and given the company's expected cash burn, a capital raise in the next 12 months can't be ruled out
  • Full financial results for the six months to December 2017 to be published on March 20th

As discussed more in depth in our initiation note of November 2017, we value Genedrive on a SOTP basis.
 
Based on expected revenue of c. £15 mln in 2025, we value Genedrive’s diagnostic division approx. £24 mln.
 
Including the value we attribute to the Services business and the company's net debt leads to an equity valuation of about £25 mln, almost 5x current market capitalization.

Full report is available via Capital Network website
View full GDR profile View Profile

Genedrive PLC Timeline

Related Researches

no_picture_pai.jpg
March 14 2018

OptiBiotix Health Plc (LON:OPTI) focuses on managing and treating widespread, chronic medical conditions, such as obesity and high cholesterol, through the modulation of the human microbiome.

no_picture_pai.jpg
March 28 2018

e-therapeutics reported results for the full year to Jan 31st 2018; business updates reflect good progress on the main research programs. Cash balance of £9.6mn was slightly higher than we expected, thanks to careful cost management.
 

no_picture_pai.jpg
March 21 2018
  • Genedrive's PLC (LON: GDR) HepC test just entered the commercial phase as partner Sysmex launched in EMEA and APAC territories  in recent weeks
  • Re-design of the mTB test in progress, launch date to be announced in the next fiscal year
  • Discussions for the disposal of the Services business entered an exclusivity period, expect an update by the end of June
  • Careful cash management with a £3.9mln cash balance at the end of February, we would expect a capital raise in the second half of calendar year 2018

 

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use