SMALL CAP MOVERS: One-hour genetic test innovator boasts Saudi pilot scheme

It has been another stellar week for Genedrive after it revealed signs of commercial traction for its technology, followed by news of potential fresh investment.

The company develops rapid molecular diagnostics designed for use at the point of care, without the need for complex laboratory infrastructure. 

Its flagship Genedrive platform delivers genetic test results in under an hour from a portable, battery-operated device.

Its tests target areas where fast genetic insights can change treatment decisions, notably its CYP2C19 test for stroke patients and its MT-RNR1 test, which identifies newborns at risk of hearing loss from certain antibiotics. 

Genedrive’s uniqueness lies in combining molecular precision with real-time clinical usability in acute and resource-limited healthcare settings.

Earlier this week, it announced that its distributor in Saudi Arabia had signed a memorandum of understanding with the country’s Ministry of Health to pilot its genetic testing technology as part of a national hearing health initiative. 

The agreement will see the Genedrive MT-RNR1 ID Kit tested under the ‘Generations Hear’ programme, which forms part of Saudi Arabia’s Vision 2030 strategy to modernise healthcare through precision medicine and preventive care.

Then on Friday, the group said it was in talks with one of its main shareholders that could see it secure a £1 million loan. The shares have doubled over the past trading week and soared almost 300 per cent in the past month, bringing some much-needed relief to management and long-suffering investors.

Turning to the wider market, the AIM All-Share fell 4 points to 770.58 as it failed to keep pace with the FTSE 100, which rose 0.6 per cent and briefly hit a new record earlier this week.

The next biggest riser was Orcadian Energy, the North Sea explorer, which jumped 65 per cent on what dealers might call ‘nosey buying’, though others might simply call it no news. It last updated investors on its Elke and Narwhal discoveries about four months ago, so perhaps an update is due.

Last Friday’s trading update from Strategic Minerals appeared to have a long tail effect. Magnetite production in New Mexico continues to ramp up, while closer to home in Cornwall, the company is accelerating development of its tungsten, tin and copper asset. The shares ended the week 45 per cent higher.

Up more than 17 per cent, Tertiary Minerals reported that KoBold Metals, the Silicon Valley-backed exploration group, will move to the next stage of its copper exploration programme in Zambia after completing the first phase of drilling under their partnership. 

It followed this on Friday by confirming it would begin a fresh round of drilling in Zambia to expand and deepen understanding of a promising silver, copper and zinc deposit at its Mushima North project.

The week’s biggest casualty was ValiRx, which raised £1 million of fresh investment but did so by issuing stock at a steep discount to the market price. The dilution and share price drop aside, the new funding will allow it to continue its cancer research work, which it hopes will boost long-term value.

Anglesey Mining shares fell almost 40 per cent after shareholders rejected plans for a capital reorganisation, blocking access to a conditional funding deal with Alumni Capital. With 64 per cent voting against the proposal, the company now faces severe funding uncertainty and warned it may enter administration if alternative financing cannot be secured.

Alba Mineral Resources shares dropped 25 per cent after the company raised £500,000 through a discounted placing at 0.0152p a share. The funds will support work at its Clogau, Finnsbo and Motzfeldt projects. Alba also completed the first stage of acquiring a 25.5 per cent stake in the Motzfeldt Critical Metals Project in Greenland.

Finally, Helium One Global appears to be quietly making progress with its transformation from helium explorer to producer. 

On Friday, with little fanfare, it reported construction had begun at its Galactica-Pegasus project in Colorado, a key step towards first output in December.

The AIM-listed explorer holds a 50 per cent interest alongside partner Blue Star Helium, which has started building the main production pad and pipeline network. 

Helium sales are due to start late next year, with carbon dioxide output following in 2026. Broker Panmure Liberum called it ‘a key milestone’, maintaining a 3.7p target price, a significant premium to its current 0.47p share price.

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