Genedrive plc (LSE:GDR) announced a conditional fundraising of approximately £3.62 million through a combination of a Retail Offer and Conditional Placing. The Retail Offer alone generated about £0.33 million, with demand exceeding available shares, resulting in the issuance of 164,875,000 Retail Offer Shares. The completion of the fundraising remains subject to certain conditions, including approvals at an upcoming General Meeting. The capital injection is intended to advance Genedrive’s strategic growth initiatives and strengthen its position in the pharmacogenetic testing sector.
Despite strong revenue growth and a healthy balance sheet, Genedrive continues to face profitability challenges. Technical indicators show bearish momentum, and valuation remains subdued due to the absence of profits. Nonetheless, recent corporate developments suggest potential improvements in market positioning and future prospects.
About Genedrive plc
Genedrive is a UK-based pharmacogenetic testing company focused on low-cost, rapid, point-of-need platforms for identifying genetic variants. Its solutions support clinicians in making informed medication and dosage decisions, particularly in urgent care scenarios. Key products include the Genedrive® MT-RNR1 ID Kit for neonatal intensive care and the Genedrive® CYP2C19 ID Kit for stroke patient care, both recommended for use by the UK NHS.
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