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Takingiteasy.
Hopefully a nice steady rise from now on.
upomega, I agree, finnCap reckon without Covid the company are worth £75m-£125m. Even 10p a test is nearly another £1m profit a month, probably until the food detective takes off (1m units p.a.) in China, by their reckoning 2023.
Also if it takes another six months So what. Income will come from the other division's let alone any small contracts from covid sales.. i.e for research purposes .in summary my view is omega is pretty well underpinned at these levels with unlimited upside.
Twatcher. That inmv is the worst case scenario.
So unless covid testing ends during the next few month's Omega is not a bad investment .
"Twatcher. Worse case scenario omega would manufacture moligics tests to fill capacity for low income countries. Even making 10p per test justifies the current mkt cap inmv ."
That's a hell of a come down from £2.50 that many on here were doing their forward looking year financials on, and around 1/10th of what they were making on the rtc test.
Gold standard to poundland, until they are in a position to produce the uk gov test. I'm hearing folks talk about end of Q2 for an avacta test. Should that be the test, then CK will have been correct and TT will happen before christmas.
Correction- Antigen LFT ready by end of Q2 which as a timeframe is not long realistically. This could be the partner GM mentioned in RMS. we will know soon!!!
I would not be surprised if discussions have not already taken place. Remember Omega sold off part of the infectious disease division to them . Which i hasten to add was on very good terms.
Porky, if ODX do a deal with NCYT it will be to mass produce the new 15 minute Antigen LFT which will creat substantial revenue for both parties.
Remember from NCYT latest RNS this test will be ready by end of Q1!!!
Twatcher. Worse case scenario omega would manufacture moligics tests to fill capacity for low income countries. Even making 10p per test justifies the current mkt cap inmv .
Oh great, another 8 months listening to the drivel from the BBs doom n gloomers....
Looking forward to hearing how bad CK and the board is, and how much we arnt manufacturing, and how many more months were having to wait for zzzzzz TT, and the amount we will never zzzzzz manufacture, and zzzzz yet still hound the odx BB because? Zzzzzz
Oh jeeeeezus, god help us all
"heres a really cheap test, wasn't good enough for uk gov, but hey you 3rd world guys will take anything, no no, dont go buying those other 20 tests that have been proved accurate and useful by porton down"
TT goes from week 20 to week 21. No Porton down validation for a test that's been CE since 2020. Abingdon. a publicly listed company has not announced any orders for the antibody LFT test, of which ODX could make 25%.
"In April we will deliver 2M tests per week."
Maybe ODX is starting a courier service as there is more and more evidence that they CAN'T have any antigen LFT orders, aren't stockpiling any antigen orders, and have no antibody orders.
ODX's entire lft output is totally out of their control, uk gov controls antigen, Abingdon sales force controls antibody. The one thing they can produce, the tri-antibody visitect test, has been available for order since oct. no body wants it.
The novacyt antigen lft hasn't even had a clinical evaluation yet never mind a CV..
4 months behind i reckon.. 2 months behind schedule as is usually the case.. With these CV's
@Porky: Novacyt test has not been approved by PHE either !
I think this is going to come good here very soon
If the LFT isn't sorted sharpish so ODX can crack on with the manufacture, I think Novacyt will work with ODX.
I wouldn't be surprised if there is a deal being done as i write.
Most obvious fit frankly. Issue sorted. It's a total nonsense having all this plant sitting idle whilst government continue to buy from China. Novacyt now have the finished product just needs replicating.
Good Luck All
Computer909. We wont be competing but filling capacity. Obviously the profit margin would be lower
@Upomega : I applaud your enthusiasm, "India together with some African countries is my bet."
Mologic's not for profit manufacturing arm GAD, has stated its mission goal to supply to low income countries, how are we going to compete in that market with a company that is giving them away for the price they make them for ?
Hopefully the company is already in dialogue with companies that ate already selling tests and need the extra capacity.
Could we help manufacture NCYT tests? They seem to have enough of them lol
Moligic is not on the porton down list. So my assumption is that it will not be the hmg chosen test. My view is that the moligic test will be sold overseas as i posted yesterday. India together with some African countries is my bet.
And there was all these people talking about NDAs and stockpiling.
"They can't make anything in advance for the uk government"
If the mologic test fails (or has already failed) validation, we might never get to hear about it. The numbers from the uk gov report released on wed suggests that many tests fail validation. 'pause' is probably a nice way of a company getting out of failing...hold on just stop that validation process....
Mologic is a private company and therefore is under no obligation to release news that affects its fortunes, and in that situation, what private company would voluntarily release a PR that contains negative news? If Mologic doesn't announce, then ODX won't be able to. When ODX agreed the TT they did not publicly tie the test to UK validation, so they have no obligation to inform shareholders, and anyhow it is not their test and so can not announce independently as the LFT under validation is owned by mologic , not the ODX visitect one (even though they are generically the same).
Could be that all we will hear is that some other test is selected for the uk gov, and in the visitect test, ODX is left with a test that is identical to one that failed validation, which makes it quite a difficult sell to put it mildly.
If there is no news regarding validation/ uk gov selection of the mologic test very shortly, i.e. a week or two, there comes a point that it is reasonable to assume its failed validation. Otherwise how long do you wait, another month, another 6 months ?
Well done Show! Why that couldn't be clarified in an RNS earlier this month is beyond me. Does this mean they are holding back 1m capacity for the govt orders however or will they be maxed out on 2m for the ones you mention do you think?
“Yes, Omega are waiting to be told which COVID antigen lateral flow test they should be making under the contract with the DHSC. They can't make anything in advance for the UK Government until they know what they want them to make and then they will make tests based on the orders received from the Government. Again those orders will only come when a test has passed performance evaluations. It's not for Omega to comment on Government policy but it does seem clear that the mass deployment of lateral flow tests in education, work places and sporting venues seems very high on their agenda.
Separate from the contract Omega is also using its lateral flow test manufacturing capacity to make CD4 tests, AbC-19 rapid antibody tests and the recently CE marked Mologic lateral flow antigen test (which will be branded under the VISITECT brand).”