Genedrive plc Secures £0.5 Million R&D Tax Credit

Genedrive ( (GB:GDR) ) has provided an announcement.

Genedrive plc has received an R&D tax credit of approximately £0.5 million from HMRC for the financial year ended June 30, 2024. This financial boost supports the company’s ongoing efforts to expand its market presence and enhance its product offerings in the pharmacogenetic testing industry, potentially benefiting stakeholders by accelerating growth and improving healthcare outcomes.

More about Genedrive

Genedrive plc is a UK-based pharmacogenetic testing company that develops and commercializes low-cost, rapid, and versatile point-of-care pharmacogenetic platforms. These platforms are designed to assist clinicians in making informed decisions about medication choices and dosages, particularly in emergency healthcare settings. The company has launched two flagship products, the Genedrive® MT-RNR1 ID Kit and the Genedrive® CYP2C19 ID Kit, which are used to make quick decisions in neonatal intensive care and stroke patient care, respectively. Both products have been recommended for use by the UK NHS.

YTD Price Performance: -37.96%

Average Trading Volume: 3,212,922

Technical Sentiment Signal: Strong Buy

Current Market Cap: £8.31M

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