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You have to remember the RTC agreement was in April at a time ODX only had 100k capacity. So the 200k they committed to was already based on upscaling.
At the time this was seen as fantastic. 10m per year. ODX normally deal in orders sizes of 10s of thousands some times 100s of thousands. This is 10m so the upside is quite rightly huge.
Roll forward, Colin King speaking with Mologic has managed to sign an MTA for 4 other tests. It is off the back of the ability to make 5 tests they have a plan to increase capacity to 2m per year and have raised funds on that basis.
RTC sold to the government will likely be cheaper and mologic tests will likely be more profitable. So the fact that as things stand the RTC are only 10% of our total capacity is not a negative. Not sure why people were impressed with 200k tests per week but now its only 10% total production its disappointing? If Mologic antigen tests become available we dont want our production capacity tied up with RTC and unable to make antigen tests.
The flexibility ODX have here is crucial, which is why they highlighted this in the RNS. Clearly if they have spare capacity and demand for a product then that capacity will be directed towards the product in demand. It's likely the RTC test will have demand off the chart.
There will be much more to come on this because they will never be able to make enough.
50 million tests per year for the UK (66.6m people) is not nearly enough.
Lots of people will need more than one.
What would send this back up to 90p+ would be news that RTC needs 1m per week from ODX and we've agreed to move that capacity from Mologic.
Some idea of anticipated profits would be good too. I'm happy to hold, was not expecting a huge spike on DF, but if it helps us churn through all those placing shares then thats not disastrous and can look forward to a steady rise in the coming weeks.
Excellent news - everything going smoothly and design freeze achieved.
This is only weeks away now:
"Initially it is the Company's plan to produce 100,000 tests per week scaling up to 200,000 tests per week by the end of September."