Continuing to build the foundations for commercial success.
Verici Dx plc (AIM: VRCI), a developer of advanced clinical diagnostics for organ transplant, announces its unaudited interim results for the six months ended 30 June 2023.
Operational highlights (including post-period end)
Outstanding clinician feedback on Tutivia™
We have been delighted with the feedback on Tutivia™ following its commercial launch at the start of 2023.
“In the first few months post-transplant there are many rejection events and yet in my opinion we have not really had a biomarker that can assist at this critical time. Tutivia™ is able to give the clinician reliable test results as soon as the first week post-transplant and so is an early biomarker test which addresses this critical need.”
Dr Nicolae Leca Professor, Medical Director, Kidney and Pancreas Transplant - University of Washington
The full year revenues are expected to be lower than originally projected from Tutivia™ but offset by higher than expected revenues from research collaborations. Revenues and containment of total costs mean that cash runway expectations to mid-2024 are unchanged at this time.
Sara Barrington, Chief Executive Officer of Verici Dx, said:
“I am proud of the progress we have made in the first six months of this year. The clinician response to our first product, Tutivia™, following its commercial launch at the start of the year clearly demonstrates how much they value the key benefits and recognise the strong differentiating features. We are also excited to have announced a second successful product, Clarava™, following the recently completed clinical validation study showing excellent results. This allows us to prepare for its initial launch in due course. We also completed enrolment for the validation study on our third product, ProtegaTM. Whilst this product has a much longer time frame, it completes the end-to-end testing for the portfolio as we look ahead.
“Although the timing effects on early adoption are frustrating, we have been able to make savings in other areas and are focused on research collaborations to help build a solid platform for future growth. At the same time, we are continuing to deliver on our strategy of transforming kidney transplant patient outcomes, as we move further into commercialisation.”
Sara Barrington, Chief Executive Officer, and David Anderson, Chief Financial Officer, will provide a live presentation relating to the interim results via the Investor Meet Company platform on Thursday October 5 at 4.30pm BST.
This presentation is open to all existing and potential shareholders. Questions can be submitted at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add to meet VERICI Dx PLC via:
Investors who already follow Verici Dx on the Investor Meet Company platform will automatically be invited.
A copy of the Company’s interim results report will shortly be made available on the Company’s website.