Genedrive PLC (AIM: GDR) shares soared 22% to 1.04p after the diagnostics company confirmed it is in talks with major shareholder David Nugent regarding a potential £1 million loan to support its operations.
The AIM-listed firm, which develops point-of-care genetic tests enabling doctors to personalise drug treatments for patients, said Nugent — who owns around 16% of the company — has expressed willingness to provide direct funding through a shareholder loan.
While discussions remain ongoing and no formal terms have been agreed, Genedrive emphasised that there is no certainty a funding deal will be concluded.
Nevertheless, investors welcomed the update as a vote of confidence from a key backer, particularly following recent shareholder meetings that addressed the company’s financial position and funding outlook.
Genedrive said it will continue constructive discussions with Nugent and provide further updates as negotiations progress.
