Verici Dx PLC (AIM:VRCI) shares soared in Thursday morning’s trade as the med-tech firm confirmed it had secured coverage from the US Medicare program for its Tutivia assay product.
It comes as a technical assessment validated Tutivia.
The test, which is undertaken after organ transplants to assess the risk of rejection, already has a Medicare code and a price of $2,650.
Verici Dx highlighted that it is now able to recognise revenues from the assay.
In the first quarter of 2025, the company recorded 292 Tutivia test orders, up 68% on the preceding quarter and compared to 334 for all of 2024.
“The achievement of this key milestone reflects the exciting work that is ongoing at Verici and the quality of its science,” chief executive Sara Barrington said in a statement.
“Securing a positive MolDX coverage decision will improve patient access to the Tutivia assay, advancing both availability and adoption.
“With this decision, we hope that more patients can benefit from a significant step forward in enhancing diagnostic accuracy and post-transplant patient care.”
In London, Verici Dx shares were up around 40% at 1.94p – having traded up as high as 2.5p in early dealing. At this level, the firm has a market value of around £5 million.