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:

GTK - FY26 Investor Briefing Details
ERD - HY27 Financial Results Briefing Details - Amended
SEK - Forsyth Barr Initiates Coverage on Seeka
PHL - HY27 results: first dividend and upgraded guidance
PYS - PaySauce to announce F27 interim results on 26 Nov 2026
ERD - HY27 Financial Results Briefing Details
RAD - Radius Health Profit up 27%; Increased Dividend
CHI - Channel presentation to the UBS Australasia Conference 2026
CCC - Cooks Coffee Company Trading Update
November 10th Morning Report