Verici Dx's Tutivia validation study published in American Journal of Transplantation
Not wishing to tempt fate, my call for 2024 is that the UK AIM index bottomed in October after a brutal 2.5 year bear market. Why?
Well, alongside improving sentiment and less distressed selling, valuations of many small/microcaps look extremely attractive on a medium-term view. Sure, things don't go up in a straight line. Yet equally, it's usually better to be early than late, as the 'easy money' is typically made in the first 6-12 months.
Indeed to me, shares in expert immunodiagnostics firm( ) (mrkcap £13m) fit into this camp, reflecting positive fundamentals and continued strong execution.
In fact today, Verici announced that a leading US medical publication, The American Journal of Transplantation, had confirmed that its flagship post-surgery test Tutivia "demonstrates strong performance in the assessment of risk of acute rejection following kidney transplant". This is especially important for doctors during the first few weeks post-graft, when patient management can be complex and other biomarkers are contraindicated or less informative.
This milestone represents not only another major endorsement of the quality of’s medical science, but also a further crucial step in the commercialisation of Tutivia. As the company builds industry trust and recognition, it continues to gain local coverage determination (LCD) for Medicare reimbursement - which should in turn increase usage and transplant centre adoption.
Dr. Lorenzo Gallon, Chair of Scientific Advisory Board of Verici Dx commented: "I am delighted that the data from our pivotal validation study for Tutivia has been published in such a high-impact and prestigious journal as The American Journal of Transplantation."
CMO Dr Michael Donovan, DMD, added: "This publication further validates the benefits of the test for kidney transplant patients and their clinicians, and demonstrates the comprehensive design of the study to reflect the full clinical continuum."
COO Patti Connolly, concluded: "We are already seeing growing clinical interest, and as this publication is key in the application for LCD coverage, we anticipate an accelerated adoption of Tutivia within the medical community, marking a significant step forward in enhancing diagnostic accuracy and post-transplant patient care."
Finally regarding financials, Singer Capital Markets are anticipating revenues to jump from $0.3m in FY23 to $8.6m next year while delivering an adjusted EBITDA of $0.1m in 2024 and closing Dec'23 with net cash of $0.1m. They have a BUY rating with a 30p target price.
shares jumped 13% on today's announcement.
Follow News & Updates from Verici Dx:
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.