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Lol not AIM ... opps
Agreed some of your moaners need to be grateful that we even gets updates and timescales, we’re essentially being spoon fed in comparison to most companies
AS could’ve just as easily had zero LFT updates since last April and a to market one next week, but you moaners would’ve ****ed off by then
Would anyone care to name an AIM company with better communication than AVCT?
Yeah I certainly don’t disagree PL communication has been inconsistent which has caused some of this as opposed to deliberately misleading. I just think the frustration is misdirected around the lft “delay” when the company is still delivering.
Anyone who’s invested in a dog sh*t aim company knows the red flags and can see a cowboy ceo a mile off. I don’t think AS is one.
Hes caught between a rock and a hard place really. Avct prior to COViD just did it all at their own pace.
Company suddenly shone into the spotlight and AS clearly excited and wanted to let shareholders know.
At that point he needed guidance from a professional PR company / advisor. Yellow Jersey weren’t that!
FTI only can on the scene recently and I wonder if they have had more involvement in how the info is fed to investors, a cause for the inconsistency.
For me, it’s a case of the company we’re centre stage overnight and rabbit in the headlights.
Given the tech is clearly working, iis on board (and good ones at that) plus still well in the running for a top class LFT. I can very much forgive that.
I haven’t been diluted since the main raise (which was great business), AVA6000 delivered on time, collaborations, licensing deals, Affimer IP reputation still well in tact.
It’s a classic case of grown quicker than they can deal with in some areas but the key ones are being delivered on.
Some may see otherwise but that’s my two cents on why I am very happy holding here
Might get some splinters here, I agree with both. We’re in the dark on a few things so TL is right that as shareholders we’re not fully informed of what is going on. Comprehensive, especially honest, and even better, timely updates would be helpful. Good counter argument though jdt, if we were GSK we’d hear absolutely nothing. Case in point, Orasure, one update to say they’re developing a saliva test, next update it’s an AN test, latest update, they’ve submitted to the FDA with nothing between. We’ve not received much different to them.
Agree fully with you sleepydave.
Think a lot here underestimate the task that was actually at hand for a company the size Avct was a year ago.
I we were a GSK for example with thousands of staff globally, infinite money to p*ss up the wall on R&D, could attract best in area staff to employ in droves to solve the problem I would maybe get the moaning.
Don’t get me wrong the timelines stated and missed isn’t great but it needs some wider perspective.
Avct had none of the above at their disposal to deal with a global pandemic that ABSOLUTELY NOBODY had a clue how to deal with. Not to mention the virus mutates so goalposts changed regularly as did scientific opinion that govts etc hung their every move on.
Then you add in the fact we were reliant on third parties. We had to. Some of those incompetent (no names but CONDOR and PD spring to mind)
In doing that, protecting the balance sheet and reputation of a company and its IP that you have worked for years to build up which is still at its heart an oncology therapeutics company.
Just look at the RNSs coming through in the last 4 months. The tech works and it’s generating revenue. That should mean no dilution going forward.
AS has 6m options linked to SP and commercial milestones, he’s aligned to shareholders.
Think people need to cut AS some slack an realise how incredible what this business has achieved in 12 months is - and it could be about to get much much better!
Disagree with your views on Dr Smith TL.
A Ceo has the job of making major operational decisions liasing between the board and the rest of the company developing corporate strategy having a set of corporate aims and developing the corporate culture to achieve those AIMS.
Oh...... and if he's good at it being the corporate face to outsiders.
What a CEO should not concentrate on is satisfying the unreasonable demands of whingeing shareholders who should know better (and an inordinate % of whom end up on the LSE boards)
Its not just the dates being wrong. Its the deliberate way information is provided with almost 0 helpfulness. Wrapped up in “we are happy with” for the 100th time.
Saliva test having issues. Does anyone feel completely informed and comfortable with the way that was released to market. Does anyone know if saliva is still being tested or is it just AN?
Not only is information withheld but the info that is given is obtuse to a degree that is beyond reasonable. I think Avacta is great, one of my biggest holdings, but move Al over to a different position and get someone in who has more respect for shareholders. If that was proposed at an AGM I would vote for it. Stop the waffle, tell it like it is. Argument about NDA is *******s. Covers contracts and information about the other party, not your own product.
And yep all said before.
Jdt, totally agree and I believe this to be the sole reason for the delay. To get the specific CT range first needs to be found in a sample, then used as part of the CV. I
Sure this is quite tricky on a live sample rather than the frozen stuff PHE use.
We were trying to do the last CV after the last Lockdown too I think hence Al saying it caused a delay.
Carpenter - they don’t just walk around hospitals swabbing everyone in there for a COViD sample. They have to find enough people at the right range of viral loads who consent to being part of it. As cases drop (which they have been in UK and Spain of late - its global cases increasing) that makes it more difficult.
They want clinical samples and rightly so with the scrutiny the CE marking process is going to come under. Results are more realistic of real world but the cost of that is time.
The problem comes, and I do lay on the side of caution at the moment with the amount of false summits we have experienced in the last 12 months, that, the update has and will include detail of the LFT. So what detail and how?
Well, The medium of an RNS to establish the results of CV, followed by a second for CE is highly likely rather than releasing this in a presentation, and an RNS to follow.
So if good news such as CV complete or partial results so far for instance, I would expect an RNS before the presentation. Partial results could still be a negative, depends on expected completion and specifics, but could be seen as another delay tactic.
However, if bad news, this could and might not be RNS worthy, but something Al might want to explain away, such as LFT Covid test has been postponed due to an imminent release of a combined test with mologic for instance and is also awaiting CV results or an unforeseen delay in CV which will be confirmed soon, But is within a third parties hands.
It’s certainly put a line in the sand now and hard to go back even if he had some guarantees CV would be complete and still ends up being delayed.
It strikes me as not something reputation wise Al would not leave in others hands, (setting up to fail)
It is evidently clear, that next week will be a vital pivot point for many an investor and the SP will respond with vengeance either way.
This last week, has probably been a mixture of emotions, risk management by investors causing volatility in the SP and the MM would have lapped this up and added by simple manipulation of the SP to cause more unrest.
If this week had been fairly flat, I think the sentiment would have been higher than it is now and less “hope” but more quietly confident.
To end, ODX as still siting quiet and the tender is still active... so what’s there to worry about until the shumper wearing scientist sings on Thursday...
And the revenue we have missed out on is huge
That was the excuse in Q4, it’s a global pandemic, they can find 1000 samples
Just to point out that Al did qualify his end of Q1 date with a statement about the availability of patients. Its likely, but not definate, that this risk was realised.
AS is amazing when he speaks and he instills huge confidence but EVERY timescale has been missed. I posted at the end of Q3 2020 that he had surely built in some buffer for his end of Q4 timescale and would deliver early Q4 and here we are in Q2 2021 and still no test??? We will deliver but the guidance is beyond a joke
HP - perhaps trite, but I intend to stick one in asking for an explanation for why timescales have been so inaccurate and what lessons the company intend to take forwards from that.
This is Avacta’s first real ‘dance’ and so I am sympathetic to them being super careful and also making a few time wasting missteps along the way due to inexperience. But I would like to known what the trajectory has been and what they’re taking away from it.
In the main, because after 12 months of speculation I’d just like to know what he reality. But also, I like and trust Al, so I don’t think it’s unreasonable to expect the guidance he gives to be accurate - if it’s been out of his control then I’d just like to know that, at least.
Thanks for all your non constructive questions......
Ray - he answered one of my questions in the end of Sep presentation and the other was in the follow up Q&A. This is different to the Gile's interview. But you probably know that and just like to wind people up.
My question would be (as a 6 figure shareholder):
Given the poor reception and resistance to using the Chinese (or any ) test by the British public, and the subsequent stockpiles, are efforts now being concentrated on approval and sales elsewhere in the world for the Avacta test
If you really believed it had failed Ray then you wouldn’t be here, simple as that! You would be unloading your negative drivel onto the unfortunate patrons of a different bulletin board
You will not get the answers to any of your questions if you have registered for the event, as I have, or are on the register of holders and not with your silly LSE names. What will happen is Sir Al will write and select his own questions just as he has with every video so far.
The excuse for the lack of a Holy Grail RNS are getting too silly as well. Bringing the Duke of Edinburgh into delaying a small cap release is not worth the time of day. A lack of samples in Covid infested lock down France is not credible.
How likely is it that the test has once again failed validation?
His timelines have been a joke. A total excrement show.
This is just the last of mant.
He should have been able to anticipate how the patient numbers would chss as nge, if he couldn’t he’s incompetent.
But of course he did. This is all smoke & mirrors. The test is either as good as done or its garbage and he’s playing for time. Exactly as he did with saliva
I think the underlying point is, a CEO should know that there are things that might cause delay and he should factor them in. His indications of outcomes have been poor / misleading. Have Avacta achieved a single one on time?
doesn't matter if PCR or LFT, as long as there is a swab
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