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Verici Dx – equity raise, more to “advance multiple growth initiatives” or fund ongoing cash burn?…

By Steve Moore | Wednesday 14 February 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on company describing itself as “a developer of advanced clinical diagnostics for organ transplant” Verici Dx (VRCI), in November with the shares up to 9.5p I wrote “Commercialisation agreement with Thermo Fisher”, but still what about that cash burn?concluding that, with also house broker Singer Capital Markets only talking of the cash runway as a result being extended only to at least the end of 2024, it is still then what? Therefore, at that juncture and a £16.2 million market capitalisation, I continued to avoid. So what of, already, now the company “pleased to announce… gross proceeds of the fundraising amount to £6.50 million”?

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