Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi everyone, and thanks for your inciteful analysis. Its been a while since you last looked at PIQ for me. Could you give me an update on whether the recent changes in movement to commercialisation have been positive? Also do you think it will be seeking another cash injecton from shareholders? Regards, David
Hi David,
For reference PIQ is a Perth-based medical diagnostics company using proteomics, the large-scale study of proteins, to develop predictive blood tests. Its lead product, PromarkerD, is designed to predict the progression of diabetic kidney disease. The pipeline also includes tests targeting endometriosis (PromarkerEndo), oesophageal cancer (PromarkerEso) and oxidative stress (OxiDx), alongside accredited bio-analytical services for third parties.
The investment case is increasingly about commercialisation rather than R&D. PIQ announced a restructuring in April 2026, including workforce reductions and leadership changes, as it shifts resources toward bringing its diagnostics to market. The key question is whether PIQ can convert its diagnostic pipeline into material revenues before further funding is required.
Unfortunately, what we wrote last year, when the stock was ~40% higher hasn’t changed and we couldn’t consider the stock – as we often say “don’t fight the tape”:
The last quarterly cash flow statement released on the 27th July showed cash burn of $2.08m in the June quarter, with cash on hand of $3.5m, leaving them with less than 6 months worth of cash. They need to raise money, and fairly quickly.
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