Canopy Growth stock tumbles after announcing $200 million share sale plan
LONDON - Verici Dx plc (AIM:VRCI), a developer of organ transplant diagnostics, announced Wednesday plans for an equity fundraising to extend its cash runway and accelerate commercial growth of its Tutivia diagnostic test for acute rejection.
The company is working with advisers and has received positive indications of support from existing and new investors, according to a press release statement. The fundraising structure is expected to include a placing and a retail offer for existing shareholders.
Verici Dx reported it remains on track to deliver $3.2 million in Tutivia revenues for fiscal year 2025, in line with market expectations. The company secured Medicare Coverage for Tutivia in April 2025.
As of May 31, Verici Dx held a cash position of $1.04 million, which included a $750,000 milestone payment from Thermo Fisher (NYSE:TMO) related to its Pre Transplant Risk Assessment test. This payment, along with expected Medicare Coverage receivables, extends the company’s cash runway to at least the end of July 2025.
The company plans to announce its audited results for the year ended December 31, 2024, by the end of June.
The fundraising will utilize existing allotment authorities granted at the company’s General Meeting held on May 27, 2025, eliminating the need for further authority to issue and allot new shares on a non-pre-emptive basis. Verici Dx expects to provide additional details about the fundraising before the end of June.
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