Genedrive Wins Major Shareholder Backing for Up to £6m Equity Raise to Fund Growth

The latest announcement is out from Genedrive ( (GB:GDR) ).

Genedrive plc has secured strong indicated backing from its largest shareholder David Nugent and significant shareholder Robert English for an equity financing of up to £6 million, with each committing to subscribe £1.5 million and Nugent planning to convert a recent £500,000 loan into equity while keeping his stake below 30%. The planned fundraising, which is expected to include an institutional placing and an open offer of up to £2 million to existing shareholders, will support the company’s commercial expansion in the UK, Europe and the Middle East, fund an FDA 510(k) submission for its CYP2C19 test, scale up manufacturing, refine product usability and extend its CYP2C19 technology to a laboratory platform, signalling strengthened financial support and strategic momentum behind its growth plans.

The most recent analyst rating on (GB:GDR) stock is a Sell with a £0.85 price target. To see the full list of analyst forecasts on Genedrive stock, see the GB:GDR Stock Forecast page.

Spark’s Take on GB:GDR Stock

According to Spark, TipRanks’ AI Analyst, GB:GDR is a Neutral.

The score is held down primarily by weak financial performance: large ongoing losses, continued cash burn, and a shrinking equity base despite improving revenue growth. Technical signals are broadly neutral and do not indicate a strong trend, while valuation is constrained by negative earnings and no dividend support.

To see Spark’s full report on GB:GDR stock, click here.

More about Genedrive

Genedrive plc is a UK-based pharmacogenetic testing company focused on developing and commercialising low-cost, rapid, point-of-care genetic tests that guide personalised medicine decisions, particularly in time-critical emergency care. Its flagship products, the Genedrive MT-RNR1 ID Kit and Genedrive CYP2C19 ID Kit, are single-use, ambient temperature-stable cartridge tests deployed on its thermocycler platform, enabling fast genetic-based decisions on antibiotic use in neonatal intensive care and antiplatelet therapy in stroke patients. Both tests have been recommended for use in the UK NHS by NICE, and the company is pursuing a growth strategy centred on in-market sales, geographic and portfolio expansion, and strategic M&A from its base in Manchester.

Average Trading Volume: 15,952,315

Technical Sentiment Signal: Sell

Current Market Cap: £9.27M

See more insights into GDR stock on TipRanks’ Stock Analysis page.