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Yes. The Mologic CEO is sounding very confident. Interesting that he says Innova are so much more expensive. I thought it looked like they were getting about £15 a test. Wish there was more transparency.
Certainly looks as if Avacta have decided not to even bother with MHRA approval. G8 shame if PD have messed up on the day job.
I can see the Innova contract getting withdrawn very soon though. Which will shift sentiment in a nanosecond. Just as many buys as sells so I guess I'm not the only one.
Perhaps a little harsh rocquet? I have always said there is room for more than 1 test and that I don’t care which test ODX produce, I was simply alluding to my belief that Mologic were referring to their own test as best on the planet and not AVCT. No hard feeling I hope.
@rocquet thank you for taking your time in explaining to me your thoughts in more detail.
I obviously I took your last sentence in a different perception.
Best wishes schalf
@rocquet look at your the last sentence.
Regards schalf
@rocquet then do not allow us to detain you any further......cheerio
Best regards schalf
FIND states the lowest dilution level detected is 2.5 x 10 power 2 but PD uses 10 power 2 for their lowest level dilution (pfu/ml).
The article says it's failing due to kit failure but its difficult to know what that encompasses from the article.
The PD summary procedure says updated the 3rd June - was this the first release?
Thanks Ella but what do you mean by dilution levels and why would PD be failing what is otherwise believed to be the best LFT on the planet?
Both the Wellcome and FIND trials suggest that the highest dilution level used by Porton Down would fail. I'm not saying this is where the test is failing but it looks like a potential mechanism for Porton Down to fail where the others didn't.
the question I have is, when did Porton down first refuse to validate Mologic due to kit failure, and was that before or after the 2M shares options were cashedout by directors ?
Well another unexpected turn. We have all thought this was taking far too long - perhaps now we know why. I can only assume that HMG used whatever influence it could muster to, in the public interest, turn the media guns away from what certainly seems to have been massive news from the FDA concerning the Innova test. All that they could have said/begged was do not panic the public. The most positive point from Mologic is that they are not afraid to say that they have the best LFT on the planet - this is a very big statement (sorry AVCT supporters). For PD to report 30% failure rates compared with company’s own reported failure rate of 1 or 2% is a massive and unrealistic divergence. Mologic has been validated by FIND amongst others and that cannot be underestimated. HMG have obviously been stringing everyone along but I agree that the letter before action is absolutely the right way for Mologic to go - it must focus government attention. Mologic are one of the most respected companies in the industry and they will not easily be fobbed off. Would I rather it had not come to this, certainty but ODX are ready to produce any test HMG choose, if I had to bet which as an investor here I probably am doing I would bet that the Mologic test will get approval and we will be pumping out LFT’s as fast as we can but if they are not chosen then we will be pumping out another test. The delay is disappointing and I believe it is a poor show by a government that ostensibly wants to build a UK biometric industry but it will come good and the Mologic action will probably clear the way. Remember the positive statement that Mologic have produced the best LFT on the planet!
The summary process Porton Down use was updated on the 3rd June. Does anyone know what the updates were ? I don't think we know at what stage the test is failing.
https://www.gov.uk/government/publications/assessment-and-procurement-of-coronavirus-covid-19-tests/protocol-for-evaluation-of-rapid-diagnostic-assays-for-specific-sars-cov-2-antigens-lateral-flow-devices
“full glare of the British media?" unfortunately they don't seem to give a ****”
Anyone who sits through the media questions on any of the Covid-19 updates will know how ineffective the British media are, they are all interested in asking the same question which has already been answered, and are so scared of being excluded from the in-crowd not one makes any attempt to ask any uncomfortable questions.
Preefty " full glare of the British media?" unfortunately they don't seem to give a ****. Just watching the news and no mention of the LFT scandal. It can only be a scandal. Why do the BBC not report that the HMG have spent over 3bn of our money on an inaccurate Chinese test sold through a brand new company set up in Northants from a terraced house. A test designed by a Wuhan scientist ready in March 2020 before the pandemic set in.?. They then ask us to set aside our freedom and wait another 4 weeks to come out of lockdown. I think they can go and **** themselves. Rant over
I would rather deal with a competent government from the 100s of governments available around the world. One that pays it bills would be nice too. The narrative that this company is reliant on the UK government in any way is laughable in a GLOBAL pandemic. Serious questions have to be answered about Porton Down, I suspect they will be thrown under the Covid bus too.
Excellent post JAdam. Rabid Rampers call you names as usual, but investors whose minds haven't been brainwashed by their propaganda will see value in your exposé.
Confronting a big stakeholder (the government, no less) in court is always a desperate, last resort solution. Even if you win and the other party is forced to pay you substantial damages, your relation will have soured and will be hard to mend.
By that point the situation will be already bad enough - but if you don't have a solid Plan B to prop up your revenue stream, it can get really ugly.
Jadam. . All of their actions are logged. Dont forget gvmnts change together with what society classes as acceptable. It may take a number of years but if foul play has occurred then inmo they will be made accountable. More so than ever as a pandemic has been used for blatant abuse of power.if of course that is the case and not just hmg being thick and stupid.
JAdam, I don’t agree with everything in your post, but I do concur with the last paragraph.
I hear you preefty, I’ve been thinking the same, who is earning all the money from the innova test. Is there some seriously underhanded $hit going on here.
This classic from TWatcher.."who in their right mind is going to buy the visitect test"..only one of the most peer reviewed,highly regarded antigen tests on the planet !.blatant,unashamed deramp if ever their was one.
Atleast your really name is in your name twat-cher
These boiler room boys are hard at it tonight......never see them when the SP shoots up!!!
Best you get your funds ready to invest if the SP does go down.....
rocquet, ODX need the uk gov to select a test, if Mologic's implication is correct and it is not actually failing, but Porton Down is saying it is failing, then it's because they don't want to select a test.
ODX can do NOTHING with a large part of its capacity until uk gov allows it. Now Mologic is saying Porton down is getting a massive failure rate. Could be completely false. And of the capacity that ISN'T under gov control, who in their right mind is going to buy the visitect test, if the UK gov body assigned with testing such tests says it has an impractically high failure rate ?
ODX is turning into the perfect s*itshow.
..didn't Colin state somewhere in recent months that any future TT process could be performed in a much shorter timeframe than the Mologic one ?
https://twitter.com/FTSE1004/status/1404510449350156294?s=20
rocquet, can you take you avacta crap elsewhere, it appears you've decided to use the word Avacta as often as possible on the ODX forum, no one appreciates it.
ODX have the mologic test TTed. anything other than that test, and its a 3 month TT process, or Sept before ODX can supply.
And if mologic end up pressing the legal button, who knows how long that will take.