One of the best untapped opportunities in US healthcare is to improve outcomes for kidney transplant patients, whilst simultaneously reducing the enormous cost burden of organ rejection, repeat hospitalisations, dialysis and over/under immunosuppression.

Indeed with transplant centres under constant pressure to do more with less, the industry is increasingly shifting towards precision diagnostics in order to better risk stratify patients/organs before & after operation.

Enter advanced kidney transplant diagnostics firm Verici Dx , which today delivered a double dose of positive news.

First, the American Medical Association has granted Verici’s Protega test a new CPT Proprietary Laboratory Analyses reimbursement code scheduled to become effective on 1st Oct'26. Another crucial step forward towards commercialisation for Protega  - a blood based test to help clinicians detect post-transplant kidney rejection.

COO Patti Connolly commenting: “We were delighted with the AMA's decision as CPT codes are fundamental in the commercialisation of Protega.”

Second, Verici Dx announced the publication of a health economic study showing the potential value of its Pre-Transplant Risk Assessment test, PTRA, which is commercially marketed by Thermo Fisher Scientific. The Avalon Health Economics study estimated that using PTRA in standard-risk US kidney transplant patients could generate more than $191m of healthcare savings over two years. Here identifying rejection risk before transplant should allow doctors to tailor immunosuppression more intelligently - escalating treatment where needed, and avoiding unnecessary exposure in lower-risk patients.

CEO Sara Barrington adding: “This publication highlights the substantial value that a precision diagnostic like PTRA can bring to transplant medicine, supporting more informed clinical decisions, improving patient management, and potentially saving the healthcare system millions of dollars".

Elsewhere trading is currently being driven by the adoption of Verici’s post-transplant blood test Tutivia, where adoption, transplant centre penetration and repeat ordering are increasing. Next licensing and royalties from Thermo Fisher’s commercialisation of PTRA/Clarava provides a second growth engine, with Protega soon to be the third. All in all providing an integrated suite of end-to-end diagnostics working together to help patients, hospitals and doctors alike.

Finally in terms of the numbers, Singer Capital Markets have a 2.9p/share target price, based on FY’25 revenues of $4.2m (+27% LFL), EBITDA -$5.9m and net cash $2.6m. Cash runway last until H2'26.

Disclosure: Verici Dx is a Vox Markets client.