Genedrive PLC (AIM: GDR), the developer of rapid genetic testing technology, expects total income for the year ended 30 June to rise to around £1 million, up from £0.5 million a year earlier.
The increase was driven by stronger second-half sales of £0.65 million, compared with £0.35 million in the first half. Overheads were stable, with a greater focus on targeted commercial activity.
The company has visibility on approximately £0.6 million in early income for the current financial year, supported by key developments:
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Completion and submission of evidence to NICE for its Early Value Assessment, potentially unlocking wider UK adoption.
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Scotland’s phased national rollout of two Genedrive tests from around October.
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Launch of a 12-month rapid genotyping programme at Manchester University NHS Foundation Trust.
Internationally, sales in Europe and the Middle East are gaining traction, while the US remains a priority market. FDA regulatory work is ongoing for its MT-RNR1 and CYP2C19 test kits, with the latter’s submission expected early next year.
Cash balances stand at around £700,000, and the board is reviewing financing options to bolster working capital.
Genedrive welcomed planned NHS reforms in England that will expand the NICE appraisal pathway and introduce an ‘innovator passport’ from April 2026, aimed at accelerating uptake of medical technologies.
CEO Dr Gino Miele said the company’s platform delivers improved patient outcomes, productivity gains for healthcare providers, and cost savings for the NHS. He also noted increasing traction in Italy, the Netherlands, UAE, Bahrain, Kuwait, Saudi Arabia, and Qatar.
