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So iAbra, the competition for the airport testing has been “woefully exposed on a number of fronts”.
Swinging the door right back open for the Mologic antigen test which will be manufacture by Omega.
“If we can find a test that is accurate, gets a result within a matter of minutes, is cost-effective and gets the Government green light, we could have the potential to introduce wide-scale testing at the airport.“
TTG: “saying it expects orders to come in for £280m from iAbra and its saliva-based test.“
Not that we need anymore catalysts... but, if they were expecting orders of “£280,000,000” this could turn out to be very significant.
“Geneme has proposed a rapid RT-LAMP test which uses a sample collected from a nasal or throat swab to provide results within 30 minutes. It uses a secure application from Yoti that simplifies the capture, processing and result sharing of Covid-19 tests, without needing paperwork. Secure spoof-proof results can be sent to an individual’s phone using the free Yoti app or to a specified email.”
“Mologic has put forward a lateral flow solution which uses a saliva sample on a test device, which provides a visually read result in 10 minutes.”
The iAbra test was previously hailed because it provided results in 20 seconds (before finding it was a fraud). Mologic is the next most efficient providing results in 10minutes, Geneme 3x longer at 30minutes.
I know which one I’d rather use.. much greater efficiency, whilst not having my brain poked at thank you.
very interesting and it shows the fact ODX passed the 98% sensitivity and 98% specificity on more than 200 cases in each group is so so important. Whilist Roche and Abott conned the world with their false accuracy of their virus testing with only small number of test samples. ODX have done exactly what the MHRA have asked. The MHRA website has always said you need a minimum of 200 cases in each study arm. The fact that Omega did a big study has meant no more testing was needed for its accuracy , it has passed better than any antibody test in the world.
We only await the usability test results and then its MHRA approval. I thought it would have been last week , but surely must be this week. It is 99% a given that approval is comming , once in this will rocket as then orders will flood in
The fact Roche are saying mass antibody testing is needed and SAGE advising it , is brilliant news.
exciting week ahead
Obviously someone didn't do the due diligence checks
Wow.
The TT Electronics (TTG) share price has come crashing down over the past few days after the iAbra Virolens COVID-19 test that it is manufacturing has been woefully exposed on a number of fronts.
A short while ago, a number of media outlets including the FT indicated that the iAbra Virolens had won business with Heathrow airport following a trial and also won business with big-name employers.
Omega Diagnostics partner Mologic was also involved in trials at Heathrow Airport but it appeared that a decision had been made with the boss of Heathrow giving the iAbra test a glowing reference, promising results in 20 seconds via a $20,000 computer.
TT Electronics soon followed this up with a rather bullish market announcement, saying it expects orders to come in for £280m from iAbra and its saliva-based test.
Since the news, the FT revisited the story and of key importance notes that:
There is no regulatory approval for the test
Heathrow boss John Holland-Kaye was enthusiastic but had no hard data onto the accuracy of it. Scientists questioned the 99.8% sensitivity.
iAbra is just a four-man company
iAbra apologised if it ‘made a slight, slight miswording’ and referred to the surge in TTG’s share price as ‘chicken feed’ in a broader context
Bristol University’s involvement in assessing the test was exaggerated
TT Electronics claimed it was clear there are ‘milestones to pass on external and regulatory testing’. Although one would question the need to announce to the markets that they are expecting orders of £280m so swiftly after the initial reports…
For investors in other COVID-19 testing stocks such as Omega Diagnostics, Novacyt and Avacta, this is a positive development in that the airport testing market (and beyond) is far from solved with this unproven, unauthorised test which has done its reputation no favours with such questionable promotion or ‘ramping’.
TTG’s share price has now wiped out most of the unfounded gains in its share price falling from 267p to 200p per share.
https://www.sharebuyers.co.uk/shares/ttg-share-price-crashes-iabra-virolens-exposed-no-approvals/