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Genedrive PLC - Manchester, England-based point-of-care molecular diagnostics company - Reports revenue in the six months to December 31 of £20,000 compared to nothing a year prior, and an operating loss of £2.7 million from £2.8 million. Confident that the company will see an acceleration of revenues through 2023 and going forwards. Agrees £5 million equity prepayment facility with Riverfort Global Opportunities PCC Ltd with an initial drawn amount of £2 million, expected to be received in early April. Proceeds will be used towards the commercialisation of the antibiotic induced hearing loss test, Genedrive MT-RNR1 ID Kit and enhancing the Genedrive platform as well as providing additional working capital. Directors believe the facility is the best option available at present. Current stock price: 28.50 pence 12-month change: down 5.0% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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