Shares in EDX Medical Group PLC (AQSE:EDX) soared 33% to 13p on Monday after the company raised about £2.7 million to expand its workplace health screening service.
The Cambridge-based diagnostics developer, which makes digital tests aimed at detecting major diseases early, placed 19.4 million new shares at 14p each. That represented a 44% premium to Friday's closing price.
Each new share comes with warrants over two further shares at an exercise price of 3p, exercisable between July 2028 and July 2029.
Proceeds will fund the rollout of an employee screening package built around biomarker testing, general health checks and family history, with follow-up diagnostic tests where needed.
The company said talks on definitive contracts with three large UK employers, first flagged in July, were progressing well, with testing still expected to begin in the final quarter of 2026.
Two further large companies have since approached EDX about the service, and the board said it remained excited by the scale of the commercial opportunity.
EDX also confirmed it had deferred recognition of £860,000 in revenue into the current financial year, after order processing ran beyond the end of March.
That followed guidance in April that revenue for the year to 31 March 2026 would come in at £1.2 million.
Founder Professor Sir Chris Evans said investors had again shown confidence in the company's strategy and its screening programme, which he said would benefit both employers and staff.
