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Pharma & Biotech

Genedrive shares rally after netting NICE recommendation

genedrive PLC (AIM:GDR) shares soared 16% after netting a recommendation from the UK's National Institute for Health and Care Excellence (NICE) for its CYP2C19-ID Kit.

NICE agreed that CYP2C19 should be used to guide clopidogrel use after Ischaemic Stroke or Transient Ischaemic Attack and that the Genedrive CYP2C19-ID test should be used as the test of choice for point-of-care strategies.

“This represents a key milestone in our commercialisation plans for the product, and further solidifies our business strategy of leading the provision of cost-effective solutions for pharmacogenetics in time-critical emergency healthcare situations,” said genedrive chief executive James Cheek.

Shares were swapping for 4.4p on Wednesday morning.