Verici Dx Seeks Funding to Accelerate Tutivia Commercialization
Why we think this is good
The RNS announcement indicates that Verici Dx is proposing to carry out an equity fundraising to extend its cash runway and enable it to accelerate the commercial growth and scale up of its Tutivia diagnostic test. This is a positive development, as the additional funding will support the company's growth plans. However, the proposed fundraising does not meet the criteria for a 'Very Good' rating, as it is not a profit upgrade or a transformational acquisition. Therefore, the maximum sentiment score that can be assigned is 'Good'.
Key Points
- Verici Dx plans to raise funds to accelerate commercial growth and support the scale up of Tutivia revenues
- The company is working with advisers and has received positive indications of support from existing and new investors
- The fundraising would extend the company's cash runway and provide growth finance to accelerate the commercial roll-out of Tutivia
- Verici Dx remains on track to deliver $3.2 million in Tutivia revenues for FY 2025, in line with market expectations
Summary
Verici Dx Plc, a developer of advanced clinical diagnostics for organ transplant, is proposing to carry out an equity fundraising to extend its cash runway and enable it to achieve its commercial objectives for Tutivia, its diagnostic test for acute rejection. The fundraising would provide growth finance to accelerate the commercial roll-out and support the scale up of Tutivia revenues. The company remains on track to deliver $3.2 million in Tutivia revenues for FY 2025, in line with market expectations.