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Molecular diagnostics company Genedrive reported narrower annual losses as a fall in costs offset weaker revenue.
For the year ended 30 June 2021, pre-tax losses narrowed to £1.9 million from £20.4 million last year, while revenue fell x% to £687 million.
Financing income was £3.6 million compared with a £14.7 million cost last year.
Looking ahead, the company said its AIHL product was being launched in the Autumn of 2021 with appropriate short term expectations.
'We expect reasonable penetration in the UK and the EU building on our pilot site in Greece,' the company said.
For CoV-POC, its Covid-19 test kit, the company said that despite the continued use of lateral flow tests in the UK, it still believes 'there is a significant market for molecular tests offering highly accurate results within rapid timescales both abroad and in the UK.'