The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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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 đźš‘ 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 ÂŁ8000 after breakfast and another ÂŁ8000 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'?
Jam, the point is (I think) that the material increase in sales at the higher margins after the streamlining of costs and processes, will negat the need for any further raises.
So yes, more money will be needed for increased production but it won't mean an increase in other fixed overheads and therefore the 53% profit margin over the last 2 months and coming 4 months will at last propel ABDX to a going concern. (Or at least put it on a stable financial footing). (Dyor etc)
I fully understand the revenue is rapidly growing and well done on that point but I struggle to see how the cash burn can be controlled to the extent that further funding not needed whilst employing a strategy of revenue growth.
I do however think they have great products and as a shareholder hope it continues to grow from hear
And also good to hear him confirm that the aim is to achieve "like for like growth" period to period, ie that H2 this year should see growth on the ÂŁ2.9m of revenue in H2 last year.
Nice to hear that manufacturing activity is increasing, especially as that attracts greater margins. Also could to hear him say that the purchase order contracts we've signed with the retailer for own brand products are "material".
I agree, everything I read about this company says growth...
Patience is definitely the watchword here...
Back TO a pound!!!!
I do agree but tbh not really on anyone's radar at present. Would be great to see it back over a pound. Patience is the key here for now
People in for a quick buck, that's all don't worry this share is on the up..
Why are people selling these shares.What am I missing? Thought thus would be closer to 15p than 8!!!That was a cracking RNS What's not to like.
Just the words no funding required says everything for me and I haven’t heard that in a long time
Great company to buy in to
Thought the title needed changing. It's time that message sunk in. When the naysayers return, and they will, they should really find it tricky now to find any angle at all to bring this company down. It is absolutely clear that it is going places!
Cheers Muck
They've received 1.3 million to develop things and the trian stroke lft is to be supplied to the NHS ambulance workers, so that sounds like maybe one of the future products/contracts for abdx
YES Gubbie - we are their CDMO partner.
Have abingdon got any contact or in the plans to manufacture lfts for upfront diagnostics at all? They are doing a lft for strokes to supply the NHS next year