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Genedrive PLC on Monday said it continues to assess its financing options after forecasting income in the financial year just ended would double from the year before. In response, shares in the Manchester-based point-of-care pharmacogenetic testing company slumped 15% to 0.96 pence each in London on Monday morning. Genedrive expects to report total income of £1 million in the financial year to June 30, up from £500,000 a year prior, driven by increased sales momentum in the second half which saw income of £650,000, up sharply year-on-year from £350,000. Overheads remain in line with the prior year with a ‘strategic shift’ towards focussed commercial activities, the firm said. Additionally, Genedrive said it has visibility at month two of financial 2026 for around £600,000 of total income in the current financial year. Revenue in the current financial year is expected to increase further going forwards as international commercial activities continue to gain pace following recent preliminary sales of both products in ‘key’ international target markets of Europe and the Middle East. The US remains a ‘significant’ market opportunity, Genedrive said. It also sees planned healthcare reforms in the UK as ‘significant’. Chief Executive Gino Miele said: ‘As the UK government commits to a significant shift in focus by prioritising prevention over treatment, our product portfolio leaves us well positioned to build on this momentum.’ Genedrive said its cash balance is around £700,000, and it continues to ‘actively assess’ a broad range of financing options in order to provide additional working capital. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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