The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Airlineboy enjoy the fishing
Temuchin sorry I don't understand the 33,000/32,000 comment , was that from feb 2020?
Temuchin - I would not be in the least bit surprised if the company puts out a 7am rns on Monday with a much more positive message. Get the bad news out of the way (bad timing it at lunchtime but there you go) and push a positive slant on it on Monday. Hope I'm correct, 23 hours to until we find out. Try not to worry abut the situation at night, I tell myself there is nothing at all I can do about it until tomorrow and put it aside. It's worked past couple of nights. Take care
Top company with top quality innovative products.
Not going to roll over for second hand deals from the likes of Shapps and his cowardly twazzock leader.
So is it possible for Q16's and Q32's to be used second hand and is there any market for them and unused tests?
ShaunP, just to add to your post the contract states that Novacyt will supply a minimum amount of Exsig Direct Covid kit's and Winterplex kit's for the first fourteen week's .If the Authority wished to increase this amount 1 month's notice had to be given . There is no mention of the authority being able to reduce these minimum level's during the first fourteen week's.We can't ascertain what these level's were set at as that part of the contract notice is blanked out.We 've all concentrated on the fact that PROmate was developed to replace the Exsig Direct Covid test to simplify Covid testing in NPT settings with no mention of Winterplex . This test was also part of the NPT package and from what I can see it requires similar operator skills to those needed for using the Exsig Direct Covid test .As a result there could also be a large number of Winterplex and Exsig Direct Covid test's that didn't get used during that 14 week period. It's also worth noting that Winterplex was developed to to distinguish between covid19 and influenza .This winter saw minimal influenza in the general population ,so this could also have decreased the use of Winterplex.
I think you have hit the nail on the head Shaun.
I was wondering that myself yesterday. They have paid for the non promate tests and would rather have the promate workflow. I don't know what the numbers are both in terms of tests and revenue.
If that is the case you can see their argument and I hope an amicable solution can be found. Others have suggested this could be part of the renegotiation game. I've certainly seen that in non government contracts
I think of it the other way round. They got on v well with the DHSC, took on a mega commitment including delivery of machines at expense of other opportunities, it turned out in a dispute. We have yet to measure the extent of the dispute but we know from the transactions processed to the DHSC in Oct & Nov that it must have taken a huge proportion (or all?) of Primer Design effort. We are all knocked back by the RNS but they do say 50% of the revenue was non DHSC & the majority of DHSC was a new product PROMate. 50% is some going from very full DHSC focus & PROmate growth is also promising.
I'm wondering whether the dispute is over Q16 & Q32s being un-useable or largely under used by the DHSC - i.e. mechanically functional but impractical in terms of fitting into NHS departments with full workloads & therefore a bit too fiddly for the output they had hoped for. I'm out of my depth here but imagine if they purchased loads of tests kits, production flowed at a lower rate & the central store went off/ partial or some proportion of obsolescence. Its could be one where two need to tango in the same way and dependencies weren't as specified as they might have been. Resolution is a step back by both in the end and may mean NCYT unwinding YE20 sales to some extent + costs. On the other hand, Primer Design pulled all stops out, can they go from hero to villain just like that? Business should be business for DHSC too so I'm hoping for some 2021 orders and development of a more realistic/matured client base by Primer Design.
Its too bad to go all out in a nationally significant contract in the circumstances of Q3 2020 and end up unwinding revenue & cut out of the ongoing plans 2021.
Biz.....what are you talking about! It's only one contract! Look at all the private testing, 38 million in first q without the gov contract! Wait until Europe's flights open up, that's tens of millions of people that will need pcr tests!
bizeeboi,
but like the murphys....
https://www.youtube.com/watch?v=QPzbkLCbpNM
Quite... novacyt do not have a big stick to bully with.but it can threaten to branch out elsewhere.
Quite, what is going to happen when they come knocking on our door for our soon to be released next gen. antibody test.
Not Gov contracts but i have some experience with large IT contracts. Disputes are common specially in relation to specific projects with vendors. It's not uncommon for over running and/or over budget projects to go to legal challenges while maintaining other contracts and projects with the same vendor. A lot of the time it's 2 parties playing the legal game indicating that neither is a push over and more so those disputes are then used as part of further negotiations regarding new contracts.
I hope dialogue channels are still open with the intention of avoiding court.
We had similar in our business. Lost a big contract, those who did the work messed up big time and customer came back to us thereafter, however the big one had been lost.
Have had some experience with gov contracts (not DHSC) but as significant. I recall a tender which we lost due to not be able to do something which we had not done in the previous contracts (these were 3-5yrs and we had been working with this customer for at least 10yrs+). Anyway we lost the tender to a competitor who promised everything. Turned out competitor couldn't deliver, customer didn't want to lose face and approach us, we ended up with the business via the competitor at a higher price. Commercial enterprises easier to do business with and with people you usually know what they are doing. Interesting to see how this plays out. GLA