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The removal of the confirmatory PCR testing by gov appears to be a similar play as seen in Jan 21, whereby infections are so high the need for the accuracy that a PCR provides is redundant. However, as seen in March 2021, once infection rates had settled, mandatory PCRs were reintroduced in order to detect new variants (SourceBio are 1 of 8 labs in UK able to do this – genome sequencing) and provide higher accuracy.
It also seems counter intuitive that pre-entry travel testing won’t be back again as cases drop in order to identify new variants.
All of which bodes well for Source, especially given NHS contracts mentioned by Jay in H1 result. Interestingly, looking at Source’s test statistics, they were still at approx. 4k tests per day during Jan-Mar21 as they were ramping up.
Majority of countries are still requiring either PCR or fit to fly (non-NHS LFTs) prior to entry so testing should continue, albeit at lower levels.
San Diego test facility was expected to be launched Q4 of 2021 at 2k/day. News articles from San Diego suggest lots of testing in general. In additions, looks as though US have much higher selling price of PCR tests – unsure how this will play out.
So no pcr test needed for travel back to the £1-20s we will go.
Possibly back to November travel testing as you say ,travel testing will be on & off with low or high
testing requirements depending on the circumstances of various countries but the underlying need for testing at home or travel will remain for sometime yet I would think.
The figures/update should give a clearer picture of the future…..
Everyone rushing for the exits as testing for travel looks to be on the way out shortly.
Cant wait for results in next few days. Should be top of forecasts with added bonus of possible aquisisions.
Signed, Lucksin. This has been the usual Boris disgrace.
...all part of massive government scandal
Pressure is now building for the government to come clean on its dealings with Chinese companies damaging British Industry.
Check out this petition and read the Times.
https://t.co/QIpDzIVumo
Basically, the company is making lots of cash and have £20m in the bank, no debt and a thriving covid business with much smaller pathology, pharma refrigeration, and genomics businesses. The market cap of the company is around £100m. Jay mentioned in the latest interview that they have been doing 20,000 covid pcr tests per day. I think that sounds an awful lot since they were only doing a third of that in the summer. however i believe they got a big NHS request to do testing for them a couple of months ago so maybe they are doing that number temporarily. The charge about £40 per test and have an Ebitda of around 40% per test. Even if they were doing say 10,000 per day that is £400k in revenue per day which seems incredible. That is £12m in revenue per month and about £5m per month in Ebitda which means that for covid alone at 10k test per day they are making £140m in revenue per year. Now i don't think they do 10k test per day but even if they do 5k on average over the past months and into the next 6 months then we are still looking at £70m per year in revenue from covid alone. The market is basically not giving them even 1x revenue in valuation. The yearly revenue for the company is going to be well north of the market cap. The need acguire a business that has decent profit margins.
Whats going on here, SBI confirmed as provider of day 2 lateral flow tests so why isn't this budging?
Have I missed a critical key ingredient, is this company going bust or something?
NCYT is up 12% on speculation, SBI are actually listed on the website and you can see the products for sale on provider websites???
Have I got the right company or BB?