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Genedrive PLC on Friday reported a narrowed full-year loss as its net finance costs fell and revenue almost doubled from routine use of its MT-RNR1 test. The Manchester, England-based point-of-care pharmacogenetic testing company said pretax loss narrowed 30% to £5.4 million for the year ended June 30 from £7.8 million. This was driven by revenue rising and the net finance costs falling 98% to £46,000 from £2.4 million the year prior. Revenue and other income rose 90% to £954,000 from £501,000 the year before. Genedrive attributed this to its MT-RNR1 test being in routine use as part of the National Institute for Health and Care Excellence Early Value Assessment evidence generation plan. Looking ahead to financial 2026, Genedrive said it has visibility currently for approx £900,000 of total income already. This is due to the NICE EVA evidence generation completion and submission, Scotland’s phased national implementation of the MT-RNR1 ID Kit and the CYP2C19 point of care pilot, and the Manchester University NHS Foundation Trust commencement of the 12-month acute coronary syndrome and CYP2C19 rapid genotyping programme. Genedrive added that it expects revenue to increase further as its international commercial activities gain pace. ‘Whilst our progress to date has been strong and our low-cost base remains tightly controlled, the group requires near-term financing in order to meet our liabilities as they fall due,’ said Chief Executive Gino Miele. ‘The £1 million shareholder loan, now close to finalisation, will provide important interim funding as we plan for a longer term solution to the group’s financing needs.’ Shares in Genedrive fell 1.9% to 0.96 pence on Friday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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