The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Whilst pcr tests will no longer be needed for entering England a lot of people are probably not aware that all those booking holidays to Spain , Portugal etc will still need a pcr to enter these countries .
Not sure how much it will affect Nova re travel pcr tests but I don’t think it’s as much as people think.
Any impact the travel PCR decision has on Novacyt would be manageable imo and should be more than offset with the fact that Microgen now comes more into play. A de risking element for ncyt was the introduction of the covid LFT suite to their arsenal. I am expecting some big news on this front over the next few weeks.
What the naysayers fail to appreciate is that the covid pandemic has provided ncyt a very healthy foundation to build on in a post pandemic world. We don't simply just disappear into the night in 12 months. Quite bizarre how short minded some people are. Probably £86m in the bank at the end of this month. The dispute will be resolved amicably in my opinion and not to forget that the DHSC currently owe us £61m of unpaid invoices. Then we take the foundations we have built during the pandemic use it has a springboard into the non covid world which due to its vast range will offer much larger opportunities.
At the start of the pandemic we had very little cash and some debt and look how we got ahead of the curve. What can we do with hundreds of millions in the bank. That remains to be seen but I'm backing ncyt.
We had covid last week & first thing we had to do is go to a site for a NHS PCR test & the car park was packed! Most cars 2-4 people - it’s not going anywhere especially with the winter influx
Thanks HKK,
I think the move to using LFTs is primarily to relieve pressure on PCR testing capacity. Third party labs that have been contracted for test and trace are already at capacity so can't support travel testing anymore.
The daily PCR testing capacity on gov websiteis also moving up to 700k a day. Theyre clearly expecting PCR testing to go through the roof.
Jadpertown if/when Novacyt launch a second generation antibody test it would be an important tool for vaccine manufacturers imho.
How 'in use' is antibody testing - does anyone know?
Don’t forget they do the antibody testing to
https://www.lse.co.uk/rns/NCYT/launch-of-covid-19-antibody-test-9kx46hoavqrcdbm.html
I’ve put this buried in another thread but worthy of its own post:
Most of NCYT U.K. sales are for NHS NOT travel related
When you have a LFT that’s positive you have to go for a government free PCR test or if in hospital a government free PCR test - that’s where Nova sell in U.K.
The rest is then outside U.K. in US, Europe etc with the addition of WHO & UNICEF.
Extra revenue is from private sector globally for event, employee etc testing with a bit of travel.
They have never been a big player in travel arrival testing as others ran that so I don’t see any financial impact to their business
What we will see is a massive rise in cases into the winter & more demand for NHS PCR tests here & globally - quite a big upside if anything!
If you read the latest results RNS you will see travel is way down the list & if you check all the airport facilities they are not Nova
43% of revenue is DHSC/NHS for hospital & tests following positive LFT so unrelated to travel
Of the other 57%
“ came from a mixture of overseas sales and a growing UK private testing market, leading to non-DHSC revenue growing 20% year-on-year.”
“ Non-governmental organisation long-term agreements
Novacyt has entered into a two-year Long-Term Agreement (LTA) with the World Health Organization (WHO) for the supply of its genesig® COVID-19 tests. In addition, the Company has received confirmation from UNICEF that its existing LTA with the organisation has been extended by 12 months to July 2022. To date, Novacyt has shipped orders to a total of eight countries under the UNICEF LTA since September 2020.
Private sector testing
Overall, UK private market sales, which currently includes COVID-19 testing in film, media, travel and corporate industries, increased significantly in Q2 2021 compared to Q1 2021. The Company believes it is well placed to continue to support this growth during the second half of the year.
As part of its expansion in private testing, the Company has also signed a supply contract initially for genesig® COVID-19 products with Excalibur Healthcare Services, who have invested in new laboratory services in Cambridge, UK, to support COVID-19 testing of private clients.”
So travel is an element but mentioned after much bigger revenue streams! & much outside the U.K.
I’d personally be surprised, if you go check who does Heathrow & Gatwick testing (see below) that their U.K. PCR travel revenue is even above 1% as they don’t do this & are growing faster outside U.K. with the U.K. revenue for NHS.
Heathrow not Nova
https://www.heathrow.com/at-the-airport/fly-safe/covid-19-test
Gatwick not Nova
https://www.gatwickairport.com/at-the-airport/coronavirus/covid-testing/