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Genedrive PLC: Overlooked Story Entering the Launch of their HepC Diagnostic Kit

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  • Genedrive (LON:GDR) on track to become a commercial stage, point-of-need diagnostics company
  • Launch of Genedrive® Hepatitis C (HCV) test at IFCC World Lab October 2017, with commercial sales expected in the coming quarters (African markets)
  • Distribution agreement signed for HCV test for Asia Pacific
  • Collaboration with the US Defense Department (bio-hazard program) to generate further income (c. $1.9mln) in the current fiscal year
  • Re-launch of Genedrive® MTB (tuberculosis) test is being reassessed
  • Management actively engaged in the disposal of the legacy service business (preclinical research and pharmacogenomics)
  • Cash position of £4.2mln as of 30 September 2017, enough to finance the ongoing business well into fiscal year 2019
  • Our SOTP valuation yields an equity value of c. £24mln, over 3x current market capitalization

In the coming quarters we expect Genedrive to update the market on several key fronts:

  • Genedrive® HCV launch trajectory, following the distribution agreement signed with Sysmex Europe
  • Further distributor agreements for other territories
  • Divestment of the services business (estimated value in the £1.6-4.8mln range)
  • Reassessment of the commercial strategy for Genedrive® MTB test in India
  • Further developments for other Genedrive® applications (bio-hazards, aquaculture, etc.)
Full report is available via Capital Network website
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Genedrive PLC Timeline

Related Researches

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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

 

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November 02 2017
  • Preventing and treating diseases through the modulation of the microbiome is one of the most exciting frontiers of healthcare, and a fast growing market
  • OptiBiotix Health PLC (LON:OPTI), an innovative life sciences company focused on human microbiome, is rapidly transitioning from product development to the commercial stage with early revenues and commercial deals with major corporates including Tata and DSM
  • Underpinned by a strong scientific rationale and clinical studies, OptiBiotix Health PLC (LON:OPTI) products help managing significant health problems as weight loss, high cholesterol and hypertension
  • OptiBiotix Health PLC (LON:OPTI) commercial push is currently directed towards the rapidly growing consumer health market
  • A rich deal pipeline is likely to translate in material revenue growth (£1mln+) within 12 months
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April 03 2018

- Key inflection point: topline data readout from the PhaseOut DMD phase 2 trial in Duchenne (DMD) expected in 3Q 2018
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