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PL75 I was talking about the EU. Try breaking into that. There is no UK market with the government sitting on 800 million Innova tests and a full exemption from future regs.
Agree ben, the issue with having waited so long is that you expect the next piece of news to be worth 500% and when it doesn't happen or it drifts it adds to the fatigue and people inevitably sell
If you were to however see it as a new investment where you have X company with all of Y in the pipeline over a news rich period of the next couple of months with a possible 5-10x uplift potential, it will do you wonders
I keep saying this but the hard and risky part of evaluation/validation/approvals etc are all done, the time to sell due to 'bottling it' was prior to that - now you're just giving the newcomers a freebie to your hard work
We've been able to market the test since the CE mark was registered in Europe, last week, as for reasons well established there is no commercial LFT market in the UK for as long as HMG keep giving out free tests.
Clearly commercial roll-out is just that, a roll out - and will take some time. We have had our first distribution agreement confirmed today which is just ten days (including weekends) since EU CE was confirmed.
No other test on the market is being limited by Delta Variant confirmation and so I don't see why this should inhibit our sales.
Overall I am disappointed in how long it has taken us to come to market, but confidence we will see a stream of orders over the coming few weeks.
Surely no other test has confirmed the Indian variant yet either though so we could happily be selling I would think. I think it is a case that we don't have enough produce current to guarantee supply and people are making the call of a lesser test that is cheap but can be taken twice would give as good a result. It just wouldn't be AN delivery. I see the AN selling point only being for home use though. Professionals don't care how they administer it
"we’ve been able to market the test since 10/5"
Until the situation with the Indian variant is clarified, there is no market
It’s not true that companies for professional use by a HCP have a preferred supplier. Until now they’ve been given tests for free by the govt. When this ends they’ll be looking for the best test to protect their staff and business.
Invest0r1...the slide said they were waiting on virus samples from PHE...
I picked up on the variant point too. Ready to go with Kent & China variants however waiting on confirmations for Brazil and Indian variants which are the two that are most likely floating around at the moment. The test is finally ready to go but no confirmation as to detection on these variants (I am sure it will detect them) but confirmation would be good asap. In terms of new variants popping up surely it needs to be a priority to get these confirmed as soon as possible in order to keep building sales amounts
AG1980, my thoughts too although I didn't want to suggest a new current test-wipeout variant would provide a golden AVCT ticket. What they could do in the interim is do what AGL have done (No apologies); Offer the product free (or at cost) for demonstration purposes to a company (or two) or other potential users who could validate Avacta's efficiency / high quality and hopefully place a resulting order, thus setting the ball rolling. The key would lie in who they place it with in order to maximise the resulting publicity.
Yep. The concern is that until you get the orders you cant tie-down supply and without supply, you cant tie down those larger orders. What you're left with I suspect is the need for Affimers to be able to demonstrate superiority. Their ability to catch new variants is the last one they have. Essentially need Covid to mutate significantly so that avacta can update their test quicker than anyone else. However, this would render vaccines useless as well and a disaster no one wants to see
Concern is will they ever be able to break those chains? no confidence so far. Will hold as I have done for over 10 months now just disheartening the length of time this is taking.
By now, professionals have been using their test of choice for months. Supply chains have been formed, trust has been gained. AVCT have to break those chains. Never an easy thing.
In no way am I trying to deramp as I want this to be successful, but if the test is market leading - why are professional use sales not already being made?