Business
2022 Annual Results
2022 Annual Results.
About this update from Verici Dx Plc
[{"type":"text","content":"\n\n\nVerici Dx plc\n(\"Verici Dx\" or the \"Company\") \n \n2022 Annual Results\n \nSuccessful transition from a research to commercial-stage company\n \nVerici Dx plc (AIM: VRCI), a developer of advanced clinical diagnostics for organ transplant, announces its audited final results for the year ended 31 December 2022 and provides a progress update since year end.\n \nStrategic progress (including post-period end)\n· Achieved full commercial launch of Tutivia™, the Company's first product for the detection of acute kidney transplant rejection, in January 2023, leading to first revenues being recognised in FY 2023. \n· Expanded its validation trial on Clarava™, the Company's pre-transplant prognostic test, for a further six months following positive initial data announced in September 2022. This decision was taken to strengthen the publication appeal of the trial and demonstrate a statistically robust and clinically compelling case in support of the commercial rollout and adoption of the test. The full readout from this trial remains on track to be announced by the end of June 2023, in line with previous guidance.\n· Patient enrolment for the multi-centre clinical validation study of our third product, Protega™, was completed in the first quarter of 2023, assessing long-term outcomes for kidney transplant patients.\n· Extended cash runway until mid-2024; the Company has retained sufficient funding to achieve further key milestones in 2023 and the first half of 2024 which will support commercial adoption, including the publication of additional data and obtaining both Medicare and private payor pricing and coverage. A further commercial and operational update will be provided alongside the Clarava™ data readout.\n \nOperational highlights (including post-period end)\n· Announced positive results from the Tutivia™ clinical validation study in June 2022, for the detection of acute rejection following a kidney transplant.\n· Granted CPT® Proprietary Laboratory Analyses (\"PLA\") codes for Clarava™ and Tutivia™ tests by the American Medical Association (\"AMA\"), providing the basis for coding and payment within the US healthcare market.\n· In May 2023, a gapfill median rate of $2,650 ...