Genedrive PLC - Interim Results for the six months to December 2017
Published: 10:15 21 Mar 2018 GMT
- 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
Executive summary
As discussed more in depth in our initiation note of November 2017, we value Genedrive PLC on a SOTP basis.
Based on expected revenue of c. £15 mln in 2025, we value Genedrive’s diagnostic division approx. £24 mln.
Including the value we attribute to the Services business and the company's net debt leads to an equity valuation of about £24 mln, 3-4x current market capitalization.
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities,...
FOR OUR FULL DISCLAIMER CLICK HEREThis document is published by Proactive Research and its contents have not been approved as a financial promotion by Proactive Investors Limited or any other FCA authorised person. This communication is made on the basis of the 'journalist exemption' provide for in Article 20 of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and having regard to the FCA rules, and in particular PERG 8.12.
Where the note contains a ‘buy, sell, hold’ recommend, Proactive Investors Limited is authorised to provide investment advice as defined by Article 53 of the RAO
FOR OUR FULL DISCLAIMER CLICK HERE