For pre-revenue businesses, it is sometimes easy for investors to lose sight at how much activity is going on under the surface.
In this context, Verici Dx (VRCI ) – a ground-breaking immuno-diagnostics specialist for organ transplants – released an update today. Detailing the key work that has been completed over the past 14 months since IPO’ing in Nov’20 - alongside how it sees the future.
So what does 2022 have in store?
Well hot on the heels of signing a strategic partnership with Illumina in order to enhance the data mining & AI capability of its proprietary knowledge bank.
VRCI said that a full data read-out wrt the validation study of its two lead products would be available by 31st March.
Additionally, the firm is progressing the regulatory/reimbursement pathways needed for Clarava's & Tuteva's commercial launch. Whilst similarly advancing the validation of its 3rd & complementary kidney transplant test, Protega. A liquid biopsy that aims to predict the risk of fibrosis & long-term graft failure.
Thus if successful, creating a full suite of clinically proven & best-in-class diagnostics.
However that's only half the story.
As an indication of the quality & depth of VRCI’s medical science. There’s even scope to sell this unique information to outside 3rd parties for research (eg auto-immune) & therapeutic development (eg clinical trial stratification) purposes, &/or monitoring patient studies post approval.
Elsewhere, Verici Dx continues to seek other licensing-in deals for complementary new technologies – such as within histopathology imagery & the analysis of whole transcriptome & other data.
Wrt the numbers, costs continue to be tightly controlled, with cash closing Dec’21 at $10.3m (Est $9.6m). In turn providing sufficient funding for another 12 months at least.
Here house broker Singer Capital Markets reckon the stock is worth between 59p-88p/share.
CEO Sara Barrington adding “2022 is set up to be another exciting year – [where we] will have moved from being a R&D organisation to one with commercial products with strong differentiation."
"Our ambition is to create a compelling platform for clinicians to use. Addressing a patient's pre- & post-transplant journey and to bring further understanding & innovation to healthcare challenges in transplant & other immune-mediated areas."