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Good summery Q18
Doubled sales in 10 days. £18m to date.
Manufacturing capacity x2 in 10 days (4m kits a months)
Up x 10 in month
Can't keep up with demand ????
Looking to add another manufacturer, that would be the 4th.
Largest single order from India £1.4m
£1.1m from UK. Not ordered more in past 10 days, but now supplying 21 hospitals, up from 8. Hospital staff testing drive throughs start today ??
Middle east is bjggest market £1.6m.
No USA orders specified. Not an issue as supplying to 79 other countries.
Enough materials to make 18m kits = £150m
Will review ordering of additional materials over next few weeks.
General observation, rigorous testing will continue for at least 6 months.
Could receive revenue of £300m to £500m over period.
Company is valued £90m. Stock has sales value of £150m
Mercedes thanks
Volcano thanks
PART 2
Whilst the Company looks forward to receiving the first batches of certain product associated with its COVID-19 test from its UK-based manufacturing partner, YourGene Health Plc, Novacyt is also in advanced discussions with an additional UK-based third-party manufacturer to further expand manufacturing capacity.
The Company has committed to purchasing additional raw materials to produce a total of 18 million COVID-19 tests and, with demand growing at an increasing rate, this will continue to be reviewed during the next few weeks.
Graham Mullis, Chief Executive Officer of Novacyt, commented:
"We continue to report unprecedented demand for our COVID-19 test as the rate of growth in orders increases each week and continues to exceed our expectations. As a result, and despite our best efforts to ensure we ar e fully prepared to meet demand, the rate of sales growth is beginning to be restricted by our ability to scale-up manufacturing as quickly as we would like. This, therefore, remains an immediate priority for the Company and it is our objective to make as many tests available to as many clinicians around the world as quickly as possible. We are very pleased with how our manufacturing partners, BioType and Yourgene, are supporting Novacyt during this time and we continue to evaluate additional capacity enhancing options to address the global demand for our COVID-19 test. Again, I would like to thank all of our employees and suppliers for their ongoing hard work and support during this pandemic."
PART 1
Sales and regulatory update
As of 27 March, Primerdesign has sold and received orders for over GBP17.8 million (EUR19.6 million) of its CE-Mark and research use only (RUO) COVID-19 tests. The rate of demand for the test continues to increase, and on 27 March, Primerdesign received its largest single order to date of GBP1.4 million (EUR1.5 million) from a new customer in India following emergency use approval of the test on 26 March 2020.
Novacyt is now selling its COVID-19 test to more than 80 countries and the Middle-East is becoming the strongest selling region, with orders of GBP1.6m (EUR1.8m) received in less than two weeks. The Company expects to sign further distribution partnerships during the next few weeks in this region and also expects to update on its progress in the US market following Emergency Use Authorization granted by the US Food and Drug Administration announced on 23 March 2020.
Novacyt continues to work with a growing number of hospitals in the UK and is now supplying more than 21 hospitals across the country. The Company also reports that its COVID-19 test is now being used by the Health Service Executive in Ireland and orders for GBP1.1 million (EUR1.2 million) tests have been received.
Although Novacyt is unable to predict with any certainty the conversion rate of its ongoing enquiries into orders and so provide meaningful sales guidance, the Directors can confirm that this level of sales will contribute significantly to improved gross margin and profitability for the Group.
On 27 March 2020, Novacyt received approval for the test from the National Administration of Drugs, Foods and Medical Devices (ANMAT) in Argentina.
The Company continues its extensive surveillance program to monitor strain evolution of the SARS-CoV-2 virus and the latest update continues to demonstrate a 100% homology of its COVID-19 test. To date, this means comparing the Company's COVID-19 test to genome sequences from 1,700 known variations of COVID-19. The Directors believe this extensive surveillance and performance homology will continue to allow clinicians to use the test with confidence .
Manufacturing capacity
Further to the announcement on 12 March 2020, Novacyt can confirm its manufacturing partner, located in mainland Europe, is BioType Diagnostic GmbH (BioType). BioType, based in Dresden, Germany, is making excellent progress in scaling-up manufacturing and the first batches of product have been delivered to Primerdesign's Southampton site for final assembly. In addition, the Directors have taken the decision to increase the level of output contracted with BioType, which, combined with the capacity from Southampton, will enable the Company to produce more than 4 million tests per month.
Not long for 200.00 + then 300.00 it will happen
Watching2, you can read the RNS on londonstockexchance.com , here is the head line,
Healthcare group Novacyt steps up progress on coronavirus test product
Mon, 30th Mar 2020 07:25Thomson Reuters
PARIS, March 30 (Reuters) - Healthcare group Novacyt
announced more progress on Monday on plans
to roll out its coronavirus test product, winning a new order in
India and getting regulatory approval in Argentina.
Novacyt said that as of March 27, the group's 'Primerdesign'
product aimed at testing for the coronavirus had sold and
received orders worth more than 17.8 million pounds ($22
million).
It added that it was now selling its coronavirus test
product to more than 80 countries, with the Middle East
becoming the strongest selling region.
($1 = 0.8055 pounds)
Bruker sales figures this week ?
Yeah John. It hit £2 but NT to sell (was going to buy back on the inevitable drop). Oh well, good hold here anyway. GLA.
Icartz buy or move on and deramp somewhere else
Spot on, spike being sold into, familiar pattern here.
Already factored into this price so don’t expect this to rocket up and up
Huh
Can someone post the rns please
And again I cannot see the RNS on this site, what are LSE playing at.
Dont tell that to COdey, hes in the know LOL
French looking to pass €2 on open
Not a share to trade anymore. This is the real deal. Steady re rate onward from here. Signposted news flow for the next few weeks as stated in the RNS. I expect IIs to be buying up shares now so watch this move fast. Who wouldn’t want to be investing in this company at this time.
OPENING 190/95 SO FAR
Only an idiot would have sold out of this on Friday. I wouldn't have wanted to be out of this over the weekend. Where have the idiots gone?
I agree. I expect a spike to £2+ this morning then the usual drop and level out throughout the day. Should end up a good bit by close. GLA
Great RNS. ...
numerous positives. Should be a good day.