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Genedrive ( (GB:GDR) ) has provided an announcement.
Genedrive plc has announced a successful equity fundraise, securing £1.0 million through a subscription for new ordinary shares at a discounted price. The funds will provide additional working capital to pursue commercial opportunities in the UK and internationally, particularly in the Middle East, and support the upcoming CE-IVD certification for their CYP2C19 test. This certification is expected to expand sales outside the UK, enhancing the company’s market presence. Additionally, a RetailBook Offer aims to raise further capital from retail investors. These financial moves are part of Genedrive’s strategy to extend its cash runway and drive shareholder value while exploring long-term financing options.
More about Genedrive
Genedrive plc is a UK-based pharmacogenetic testing company that develops and commercializes rapid, cost-effective, and user-friendly point-of-care testing platforms. Their products, such as the Genedrive® MT-RNR1 ID Kit and the Genedrive® CYP2C19 ID Kit, are designed to assist clinicians in making informed decisions about medication use, particularly in emergency healthcare settings. The company focuses on personalized medicine, enhancing patient outcomes by tailoring treatments based on genetic information.
YTD Price Performance: -25.51%
Average Trading Volume: 2,988,867
Technical Sentiment Signal: Strong Buy
Current Market Cap: £9.91M
See more data about GDR stock on TipRanks’ Stock Analysis page.