Business
Final Results
Genedrive plc reported a significant increase in revenue and other income, reaching £1 million for the year ended 30 June 2025, a 100% rise from £0.5 million in the prior year, while reducing its loss after tax to £5.2 million from £7.1 million. The company maintained its R&D expenditure at £4.2 million, continuing investment in its commercial stage products, and successfully raised £1.23 million gross in an equity fundraise in March 2025. Genedrive ended the period with £1.2 million in cash and no debt, and has seen operational progress with its Genedrive® CYP2C19 and MT-RNR1 ID Kits, including CE-certification for the former and a conditional recommendation from NICE for the latter, alongside initial commercial sales and international market access efforts. However, the company notes a material uncertainty regarding its ability to continue as a going concern due to its current cash position of £0.32 million and a projected monthly cash burn of approximately £0.35 million, necessitating near-term financing, with heads of terms agreed for a £1 million loan from its largest shareholder. Disclaimer*
About this update from Genedrive Plc
[{"type":"text","content":"\n\ngenedrive plc\n(\"genedrive\" or \"the Company\" or \"the Group\")\n \nAudited Final Results\n \ngenedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, announces its audited Final Results for the year ended 30 June 2025.\n \nFinancial Highlights\n \n§ Revenue and other income increased 100% to £1m (2024: £0.5m).\n§ Loss after tax reduced to £5.2m (2024: £7.1m).\nCost base shift from pre-commercial to commercial focus.\n§ Diagnostics: R&D, Scientific, Engineering (Electronic, Hardware and Software) expenditure of £4.2m (2024: £4.2m).\nContinued investment in supporting commercial stage novel and disruptive products.\n§ Successful equity fundraise of £1.23m (gross) announced in March 2025.\n§ Cash at bank of £1.2m and debt free at 30 June 2025 (2024: £5.2m).\n \nOperational Highlights (including post period end)\n \nGenedrive® CYP2C19\n§ Several national and international guidelines supporting CYP2C19 pharmacogenetic testing to tailor antiplatelet therapies in stroke and cardiovascular disease, including CPIC, NICE, US FDA and the American Heart Association, with NICE recommending the Genedrive® CYP2C19 ID Kit as the preferred rapid testing platform for CYP2C19 genotyping in stroke and transient ischaemic attack.\n§ Completion of DEVOTE study, with Clinical performance subsequently published in Journal of Molecular Diagnostics publication, highlighting superior performance of the Genedrive® CYP2C19 ID Kit compared to laboratory platform with respect to target coverage, speed, accuracy and failed tests.\n§ Following UKCA marking, Achieved CE-certification (May 2025) under the European In Vitro Diagnostics Regulation (IVDR), permitting registrations and commercial progress in the EU and other countries accepting CE-certification.\n§ Accepted onto the NHS Dynamic Procurement System (DPS); an innovative procurement process that has been developed to streamline and accelerate access to cutting-edge medical technologies permitting direct procurement by regional NHS trusts.\n§ First commercial sales to Salford Royal Hospital, England's largest H...