Spin fails to spark for Genesis after $9.6 million loss

Genesis posted a $9.6 million loss, in line with its 2000 float forecast of $9.1 million. It presented a "bright side" by emphasising it had $47.9 million in cash, down from $61 million a year ago.

"All that demonstrates is that they've burned another $13 million of cash without generating any additional revenue," one analyst commented. Revenue fell $8.7 million to $20 million.

CEO Jim Watson said the company had reached agreement with the US Food and Drug Administration on the next phase of trials of its PVAC psoriasis vaccine.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

HGH Ltd Results for the 6 months ended 1 February 2026
March 27th Morning Report
CDC investor presentation and guidance update
PFI - Potential Bond Offer by PFI
MCY - Mercury Green Bond offer - interest rate set
March 25th Morning Report
AFT - Chief Financial Officer update
KMD Brands: Response to Stokehouse transaction concept
March 24th Morning Report
MCY - Mercury launches retail Green Bond offer