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Beggars belief the ineptitude of this gov't. Brazilian variant now in country, we are an island for goodness sake, they could have sealed the borders a year ago, never mind last month, someone didn't fill in the contact card who had flown in from Brazil, why were they not all tracked?
As for the useless Innova test, they could have had ours out many months ago, yet more dither and delay, and let their mates and cronies contracts through, even if they are substandard or have zero experience.
About time they got UK based tests through MHRA etc. and to the public, holding it up can just be another way to line their pockets.
We are very near, and decent tests are needed in vast quantities, we will definitely sell all we can produce for a long long time, but about time they got their finger out.
Aberdeenman
Potentially the same problem at the university I work in. All staff and students asked (not required) to get two tests a week . Tests being provided foc until June at least.
I can't see the UK tests being sent out until the Innova ones have been used up. The government can't be seen to be dumping millions of pounds worth of tests.
There was a report in the Kings Lynn local press of a teacher who used 4 innova tests over a 4 day period as they were showing symptoms but the all came back negative. She still felt unwell so had the doctor do a test that came back positive only hours after taking another innova test as negative.
Hani beggars belief.
My school have not returned one positive test back yet from those tests, and we've been swabbed twice a week for months.!
Probably because we have not got enough capacity ( yet) to send out 32 million tests starting next Monday ! Doh
Be positive
GLA LTH
Nice post MoreThanMe.
"I am close to the most confident I have been throughout my journey"
Out of interest, when were you most confident?
They are using fu*king Innova again, what a waste i have received emails from school for all testing.
I hope they use ours for all international arrivals especially airports. Many a people are willing to forge a test result to travel, and it's all too easy to do. There is no way the UK can possibly track the legitimacy of a test certificate from abroad. Maybe a good idea to have requirement to have the test done at the departures too prior to boarding, to mitigate against forgery. Just to add to the numbers of orders. ;)
" The uncertainty I see is whether or not the capacity will be increased beyond the 2m tests / week."
Given the announcement that not only secondary school children and college students will be tested twice a week, but their families will also have access to 2 free tests a week as well, that would seem to be more than 20m tests per week if you add in workplace testing!
Then we will have event testing on top.
I think ODX will have to up capacity!
Aberdeenman
Very well thought out and informative post looking forward to the month ahead.
Been invested here since April last year and it has been a volatile ride to say the least. My original investment thesis was lateral flow becoming the dominant method of testing, because of the low price, high accuracy and most importantly the quick result time of less than 15 mins. I chose Omega out of all the plays, because I saw it as the lowest risk, not being reliant on any particular test and I preferred the risk to reward of manufacturing vs IP. And most importantly, the company has been around since 1987, it has strong industry ties and a strong reputation in lateral flow diagnostics.
It has been (still is) a volatile ride watching this all unfold, but I am close to the most confident I have been throughout my journey of investing in Omega. Every week, news articles seem to sing the praises of lateral flow that little bit louder. The government is now starting to roll out lateral flow tests to schools, businesses and the rollout supporting the events industry is likely to be just around the corner.
The biggest piece of news for me is that PCR testing has been shown to no longer be the gold-standard of covid testing. It’s high sensitivity produces lots of positives for non-infectious people after they have recovered from the disease. LFTs are now being championed at identifying infectious people only. Forcing non-infectious people to self-isolate is not how you re-open an economy.
We are not there yet, there is still risk here. But, there is a lot going for the company.
- We have an RNS stating government collaboration, with further details to come.
- We have government loaned equipment supporting the increase in capacity from 1m => 2m tests / week.
- We have close ties and an MTA with Mologic, the most important lateral flow testing entity in the UK and a globally significant organisation with Gates Foundation ties.
- We have a wide array of Covid LFTs covering both antigen and antibody as well as ELISA antibody tests
- We have a government aiming for 32m tests / week sent out to support the reopening of schools as announced today.
- We have even higher aspirations of Boris’s Moonshot plan at 10m test / day (70m / week)
With the scale of lateral flow testing being announced it is comical that some of the derampers on here suggest that Omega’s capacity will not be used. The uncertainty I see is whether or not the capacity will be increased beyond the 2m tests / week.
– Article links --
32m Covid tests by post to reopen schools: https://www.thetimes.co.uk/article/32m-covid-tests-by-post-to-reopen-schools-2s6tgvfzr
Clarifying the evidence on SARS-CoV-2 antigen rapid tests in public health responses to COVID-19 - https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(21)00425-6/fulltext