George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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i tho ught it was a superb presentation and will be topping up tomorrow
Really impressed with today's #ODX Omega Diagnostics Presentation
Long term recurring revenue, post covid, can come from the CD4 HIV Test, which sells for ~$4 and operates at a 70% profit margin, however plans are in place to get all in costs down to around 50p per test, which should make then more competive
They are targetting 4-6m tests per annum, in the next 3-5 years, with 2m tests per annum starting in 2021
Quick Calculations at maximum 6m PCM capacity would be 24m USD per annum and ~$16.8m profit
Even a third of this next year would be most welcome, with 8m USD and ~$5.6m profit, per annum
They believe this is the only instrument free POCT available, worldwide
Antibody Testing
- 3 Tests, although at this stage it is probably wise to write off the ELISA test as nothing more than a very small revenue generator
- 2 CE marked tests, Mologic Antibody VITISECT CV19 test, which has been put forward for approvals in a number of countries, CE marked in Sep 2020
- Working with the FDA on the Mologic Antibody Test, likely to be some very good demand early next year for the test
- Setting up distribution networks where the prevalence of CV19 is high
UKRTC Antibody Test
- NOT EXCLUSIVE to the UK GOVT and can be sold to third parties outside of UK GOVT and outside of the UK, likely to be at much higher margins/revenue
- Lots of countries taking this test very seriously because the test is backed by the UK GOVT and also CE Marked
Antibody testing likely to be in massive demand when vaccines are rolled out and for potentially years to come
Antigen Testing
Mologic LFT test
- Been taking part in a number of evaluations, not just in LTSM but in some of the drive throughs etc and got the prototypes out there, the data is very encouraging and they are getting very close to completing the development phase
- When we should expect that transfer to start is the end of November is very realistic for ODX
*** confirm that what we are producing is of the same performance of Mologic and then build up the technical file and CE mark the test – could be a nice Christmas present and still hold the hope that it could be complete by Christmas *** if not would be very early into the new year and be able to start commercialising it
- full transfer complete by Christmas is the goal and why we are looking to drive the capacity that will generate significant demand from antigen testing
Other things to note:-
PROFIT SHARING - when the RTC test is sold to third parties, there will be additional profit and that itself, will be linked to the ultimate selling price per test for the third party (AKA more than 0.75p)
Capacity:-
500K per week by the end of December 2021
2m Per week by April 2021
Possible may be able to expand to 2.5m per week (construction underway at existing facility)
In summary:-
An extremely attractive diagnostics company at crucial stage in its development/growth, and I predict in 12 months it will be trading bet