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Playground stuff kids. Grow up.
love when I pop in here to see what everyone’s up to and Twatcher is still here trying his best to put doubt in everyone’s mind.
@tsales, Just like you were doing on the Avacta board prior to our good news this week
"The Company decided to be very specific on this point only, explaining that from the 1st April ( not from sometime in April 21) lateral flow production will commence and build to two million units per week by end of April. "
The company was very specific that the new financial year started on the 1st of April....that is all.
Before I go off spending time comparing the different test accuracies (published or otherwise!) Just wondering if anything has recently been published on the visitect one? I know there is the data published on mologic website on 24/12 has there been anything further published that i have missed. Thanks
Theres a good link on abdx bb concerning 3a progress with tests as per porton down. Both moligic and avacta have still not reached this stage. However surescrean and innova are on there.
If we are going to manufacture soon then surely it will be for the surescreen test.
Gary... if you are so annoyed at the company and talking about “what’s coming”:
Sell your 2 shares and move on. Why waste energy here every day? No one cares to read any of your posts. Wonder why this share has so many actors posting on these boards
Results within 10mins I'd say Omega have the Visitect as the gold standard profits will be massive if this has been chosen.
@Vascular: on 15th march i tried to tie Walbrook down on whether ODX were actually producing anything or simply ramping capacity in expectation of demand, they were as expected uncommital
“I’ve confirmed that the Company expects to have capacity in place by the end of April to produce approximately 2 million tests per week – and it is clearly the Company’s intention to utilise that under the UK Government contract and demand for other lateral flow. I’m sure an update on actual production levels will be provided as the Company moves closer to that target date.”
Jesus Twatcher you need to get a life move on if this share not for you .. Some sad people around
I love when I pop in here to see what everyone’s up to and Twatcher is still here trying his best to put doubt in everyone’s mind.
Trust your research, omega are on the brink of releasing the biggest news for the company so far. Don’t waste energy worrying about twatcher or Gary or computer :)
The Company decided to be very specific on this point only, explaining that from the 1st April ( not from sometime in April 21) lateral flow production will commence and build to two million units per week by end of April. These units will be sold, and revenue will go towards this years financial accounts. I read it that the company is already making good money. It does not matter if these units are sold and delivered this month or next, as long as they are sold. ..obviously the quicker payment terms the better. My point is that ODX are already producing, and in a week will be at full capacity.
Re costs - the transportation cost savings will be huge if buying from UK manafacturer. Look at bidstat for air freight contracts for what must be Innova, the mind boggles . As previously mentioned by another poster Buying UK tests will result in indirect money via taxation flowing to treasury.
"How will the Visitect Mologic test compete with a certain other test that has just had its CV results announced. I mean, which one would you buy personally?"
Seriously? The cheapest. If I get a result that allows me to do whateve I need to, I'll buy the cheapest. Couldn't give two hoots if its got an affirmer or is 0.1% more accurate. I'll buy the cheapest of whatever's available. Unless its made in Devon. Never trust anyone who doesn't know what comes first, the stawberry or the cream.
For every month that there is no production, that is a month's production that is lost in the financial year beginning the 1st of April, that can never be recovered during that year.
upomega.
The OP indicated that the quoted peice clearly stating the 1st of April meant that the quote was categorically saying that is when production commence. That is not what that quote says. The call out of the 1st of April is merely stating when ODX financial year begins.
Twatcher
Surely so long as they deliver results during this financial year in terms of what they have indicated. Then they would have delivered. Even if there is slippage of a few months.
"Note they decided to be specific here by stating 1st April. "
That's confirmational bias.
The quote is
"They added that it will likely result in substantial revenue growth in the financial year beginning 1 April 2021."
The financial year for ODX begins the 1st April.
Its pretty obvious when you read the RNSs that Production of the VISITECT LFTs started on 1st April - manufacturing ramp up throughout April to a lateral flow production capacity of around 2 million tests per week by the end of April, from its Alva facility in Scotland.
ODX stated this just one month ago!! , 22nd March 21. They must have been ultra confident at this time to state this ptetty much as a fact.
"The company said it has CE-Marked Mologic's Covid-19 lateral flow antigen test. The test will be sold for professional use by Omega's VISITECT brand. Having begun the technology transfer late last year, Omega has CE-marked the product and is now completing a marketing launch for commercial roll-out, which is expected to start in April. They are also in discussion with several potential commercial partners interested in ordering the test after its launch.
Omega said it is on schedule to deliver a lateral flow production capacity of around 2 million tests per week by the end of April from its Alva facility in Scotland. The production will be used to sell the VISITECT branded antigen test to third-party commercial customers.
The utilisation and supply of the tests under the company's previously announced agreement with the Department of Health and Social Care is expected to significantly impact the future performance of the business, Omega said.
They added that it will likely result in substantial revenue growth in the financial year beginning 1 April 2021.
Note they decided to be specific here by stating 1st April.
The game changing revenue stream has already started imo.
Lots of news to come out soon.... wonder who are these potential Commercial partners looking to order the test post launch.
https://www.asktraders.com/analysis/omega-diagnostics-shares-rally-after-ce-mark-for-mologics-covid-19-test/