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Just for info but ABDX posted a job advert for a full time Supply Chain Assistant at the beginning of the month, and for a Part Time Buyer within the supply chain yesterday
https://www.google.com/search?q=jobs+at+abingdon+health&rlz=1C1BFEM_en-gbGB1004GB1004&oq=jobs+at+abingdon+health&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIHCAEQIRigATIHCAIQIRigATIHCAMQIRigATIHCAQQIRifBTIHCAUQIRifBTIHCAYQIRifBTIHCAcQIRifBTIHCAgQIRifBTIHCAkQIRifBdIBCDU2ODNqMGo0qAIAsAIA&sourceid=chrome&ie=UTF-8&ibp=htl;jobs&sa=X&ved=2ahUKEwihrteZrv6EAxUFS0EAHV7fBVMQkd0GegQIEBAB#fpstate=tldetail&htivrt=jobs&htiq=jobs+at+abingdon+health&htidocid=u_H6W8dAPmMquULfAAAAAA%3D%3D
What exactly is behind this is anyone's guess, but both roles seem geared to the manufacturing arm of the business so it could relate to improved Salistick sales, the new OEM contract orders Yates has told us about, something else, or it could just be he's replacing staff that have left!
Pretty mundane stuff I know, but always good to be aware of these things.
Another quiet day...
The only thing that's interesting is that all but one of the transactions today have been sells, yet each of those sells was transacted at a higher price than the last. So the actual bid is rising even though all we are seeing is sells.
And I noticed in the auction this morning that we had two Direct Market Access offers for stock, one for 100,000 at 8.5, and the other at 7999 at 9.
So I am wondering if these two things might indicate a sizeable buy order in the background, although I freely admit that's outside of my competence so would appreciate any insights others might give.
We just have to be patient. Its undervalued - hopefully partnerships/orders will drive the sp up. Right now there is a lack of awareness of this stock or people have lost confidence over the years
Muck165
The thing is MHC have cash and products and ABDX have great products and need cash to support revenue strategy. Could be a good collaboration and see the two working together
Jamrock - I’ve wondered if the two might be a good fit too. And TBH me well still be working together (see the links)
https://www.abingdonhealth.com/news/acquisition-concepta-yorkshire-lateral-flow-manufacturing-site-outsource-concepta-manufacturing-requirements/
https://www.abingdonhealth.com/news/mhealth-partnership-agreement-signed-with-concepta-plc/
I’m shocked that ABDX and MHC don’t work together. MHC have many lateral flow tests and actually have around 8m in the bank largely due to Covid revenue whilst there LFT tests and blood tests bed in the wellness sector. They have there products in Boots and began life as a pregnancy test company and now ABDX have a great salistick product.
Not sure if they do anything together but wouldn’t be be a bad move if they did some sort of business that suits both parties.
Thanks for reply, certainly deserving of a deeper dive on my part - I hope it keeps rising for you in the meantime!
LOL Lucksin - you’re right, patience is a virtue, frustrating though it might be!
Give it a chance Muck, it was barely known in 2020 when it had its first opportunity to fly as a company and many of us on here know what happened the first time not helped by our dear government at the time.If you believe in Karma, things will work out this time. Abingdon seem determined and probably have many helpful connections besides the ones we are aware of.
I don't know how any company can be described as all that interesting in the beginning. Once this gets adequate media coverage and it will, it will become super sexy particularly if it achieves its first forecasted share value this year of 56p!
“been UNLIKE many other AIM CEO’s”
Sorry
Thanks HarChris and yes that will, I expect be the basic concern. And I’d be foolish to say it won’t happen.
I can only say the Yates has repeatedly expressed his distaste for dilutive raises, and has confirmed again in the interims that “ The primary objective of the Board remains to move the Company to a breakeven and cash flow positive position which it forecasts will be achieved in 2024 without the need for additional funding.”
Yates has been like many other AIM CEO’s by laying out a plan, sticking to it, and succeeding with it, and I’m struggling to recall any time when he’s made forecasts that haven’t come to pass.
I think 2024 is going to be a pivotal year for ABDX as it’s broad and diverse mix CRO/CDMO customers move into manufacturing. Manufacturing (automated in our case with currently unused capacity to make millions each month) generates revenue at far higher margins and so with that, cash will rise.
I personally cannot see a better time to get in.
Isn't Abingdon's 'problem' right now for want of a better word simply funding risk? Sure the primary objective is to reach a cash flow positive position in 2024 without additional funding but it's certainly not guaranteed and even if it was surely further capital is needed to grow the business as the cash being generated will be very modest?
Investors have been stung time and time again in recent times where any 30%+ rise has been used to get a placing away at a discount, the rns'ing of a proactive interview feels like an attempt by the CEO to boost the share price a bit so I imagine the interims have caught many people's attention (including myself) as the improvement in operations is undeniable but many will be unwilling to risk being caught on the wrong side of a placing in what is a tough, tough environment for small caps right now.
As I’ve said before, I’m just excited by the potential here! It sells itself.
So why doesn’t the market agree? Am I missing something?
Personally I just think that in the minds of the herd we’re just that boring covid company which rarely has anything to say, where the price might sometimes spike on news only to settle back in the doldrums. The message just isn’t getting out there that in fact we have turned the tanker, placing risk for 2024 has all but vanished, that we offer a market leading, knowledge leading, full function service, and have now dug the groundwork to yield a large mix of sticky clients on the cusp of commercialisation targeting a very diverse mix of applications in a growing market, to include global healthcare services, for which we can manufacture at scale and at increasing margins. And this is all against the backdrop of an overburdened NHS that badly needs to control cost and effectively triage patients, and a society where home LFT testing has become understood. And then we have massive alignment with Directors and a low free float.
The main risks as far as I see them remain with the perceived accuracy of LFT’s, which we know on here is increasing rapidly as molecular tests come on line (Note our Nina Garrett is speaking on that subject at a conference this week), and possibly the potential for Directors to take us private again (although that seems highly unlikely to me).
But I’d really love to hear any concerns others might have in case I’m suffering from confirmation bias!
...I'm sure they will!. That is fantastic research Muck165. Thank you for all you are doing to show investors the true value of Abingdon Health. I am blown away by its potential, no the path it is already striding along actually, to not only expand into a healthy , highly lucrative company of substance, but one that truly enhances global health. Being connected to 52 North and the amazing neutrocheck test, that IDAP have chosen to support, will be used by the NHS to really help cancer sufferers to avoid sepsis which is the largest threat to their treatment. I'd recommend anyone read from that link you have just sent. This investment just gets better and better.
Hopefully it looks like abingdon will be actually getting some lucrative contracts from the government in a round about way ...looking good for ongoing deals meaning cash positive. Plenty of tests that will be here forever.
And another, again for those interested
https://nhscep.com/2024/03/12/new-finger-prick-test-detects-sepsis-in-cancer-patients-at-home/
An article from 15/3 describing their journey for anyone interested. Note that the “contract research organisation” referenced in the article is ABDX.
https://www.360dx.com/point-care-testing/uk-diagnostics-firm-52north-plans-2025-european-us-launches-neutropenic-sepsis
This may be nothing, but Yates put out this interesting but innocuous post this week, which is about an MIT sensor to detect PFA’s (nasty chemicals that never break down) in water.
https://www.linkedin.com/posts/activity-7173698228784238592-OSuD?utm_source=share&utm_medium=member_desktop
Then Eco-Flo posted this, which references the same MIT article and perhaps gives us a hint with
“You never know, you might just be able to get an ECO-FLO Innovations test kit for testing PFAs in your drinking water before long. Watch this space.”
https://www.linkedin.com/pulse/4-3-things-week-truth-materials-jo-barnard-16qhe/?trk=public_post_main-feed-card_feed-article-content
As I say, may be nothing, but it could all indicate the first Eco-Flo application being worked on.
Anyone interested in the damaging effects of PFA’s, do watch the Mark Ruffalo film Dark Waters.
You mentioned Upfront diagnostics, they have been given a share if 10 million to develop tests ...one of which is for strokes which they are going to supply the NHS ambulance 🚑 service with in 2025. It is reported on 360. So thats another on the pipeline for abdx
Oh, and we shouldn’t forget that in H2 2024 Abingdon will be testing the first plastic-free, straight swap for swap, compostable cassettes generated by Eco-Flo (which ABDX owns 25% of), with a target to have the first products available to customers in the second half of 2024.
Think about it - with the drive to net zero, are the NHS (and other global health organisations) more likely to procure millions of non biodegradable plastic cassettes, or ones that reduce Co2 by 80% and plastic across the test by 62%. The same can be said for manufacturers targeting a far more climate aware retail base.
And whilst we of course would want to be making these tests, the added beauty is that we would share in EcoFlo profit generated by ANY manufacturer using the tech.
Jamrock - reflecting more on your earlier question and I think building on what Wyndrum said…
Back in 2020 ABDX invested significantly in additional space and automation to increase its manufacturing capability at the height of Covid, such that we became able to make millions of tests each month and able to fulfil what we expected to be significant DHSC needs. We pretty much put all our eggs in the DHSC basket. As it was, however, the DHSC welched on its contracts and we mothballed our newly acquired Doncaster site and had to rebuild the business based on a fee for service CRO/CDMO model, ie attract developers and help them get to the point of commercialisation and mass manufacture. During that period we used nothing like our full manufacturing capability but we have been very successful at attracting and then taking developers through the development process to the point of commercialisation.
The point is that ABDX are now sitting with a client bank that have been through that development hopper and are starting to need manufacture. And of the tests we know about, ie Salistick, Loop, Upfront, 52 North, there is massive manufacturing potential. Then there are ones we don’t know about.
The point I’m really trying to make is that the real key to future profitability is our currently unused, but soon to be used, high margin, high volume, automated manufacturing ability. And there is very real reason to think that wil all be coming on line soon.
Quite unbelievable, these are now trading lower than they were 6 weeks ago before this great RNS.
Bought in £8000 after breakfast and another £8000 after lunch hope they've gone higher by dinner time!
The fact Yates did an interims interview is out of the ordinary.
The fact he RNS’d it is really out of the ordinary.
He’s clearly trying to push the message that ABDX is going great guns to a market that otherwise seems to ignore us!
Or just watch the proactive investor presentation from Jan because this was the first question Yates replied to.
#jamrock suggest you speak to management and let them explain it to you.. there's no point 'struggling'?