Currently, a British diagnostic company faces a decline in share prices by 4.56%. It reaches a value of GBP 51.50 this week amid the volatility patch. Omega Diagnostics Group has reached a January price level. The loss of the company is equal to 14.88%. The total market cap now is GBP 94.055 million. Revenue for 2020 was at £9.82 million, with a profit margin of -69.54%. According to its financial statement, the firm had no debt and £7 million in cash on hand as of September 2020. Investors should be aware that the company’s cash burn grew by 251% in the previous year. Several investors scrutinize Omega Diagnostics’ future capital requirements since its cash burn is growing while revenue is decreasing.
The company’s cash burn, which totals almost £3.5 million, amounts to about 3% of its total market capitalization. Given the low proportion, the firm may easily fund another year of expansion by issuing new shares. Before investors can securely add ODX shares to their wish list, further information about the test findings and potential applications of its goods is required.
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