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https://www.londonstockexchange.com/news-article/AVCT/proposed-fundraising-to-raise-up-to-ps45-million/14564724
Under Current trading and prospects - Diagnostics -
"As previously announced, Avacta has entered into an exclusive global distribution agreement with Medusa19 Limited ("Medusa19") for direct-to-consumer sales of its newly developed saliva-based rapid test for the COVID-19 antigen, subject to regulatory approvals."
So the saliva-based rapid test HAS been developed - now just waiting for approvals.
Billion dollar company by 12 June nailed on
Incredible how we all missed that the other day.
Note to self:
Read all RNS's at least 5 times from now on!
Yup, just looked and checked back, that’s a change in language. That puts a different spin on what seems to be an overdue wait, the next LFD RNS could be its approval.
metis - excellent work picking up on that detail. 10/10.
It appears we've actually had the big news we've all been waiting for, but it was so subtle that none of us even noticed!
Of course, we still have the questions specicifity and sensitivity, but this is about as nailed on as it can reasonably be now IMO.
Nice spot! We were all focused on the bit that said fundraise.
Thanks should go to Kong1 in a post earlier this am.
Fair play to him & thanks for re-sharing.
Yes great wor.
Kong is King!
FFS
"Work"
Last night my wife and I carried out the government supplied home test. (Wife has symptoms). The kit comprised:
1 x phial containing some liquid
1 x cotton swab
1 x cotton wipe
2 x plastic bags
6 x stick on labels
1 x self assembly cardboard collection box
1 x 16 page A4 instruction booklet
Boxes collected by Royal Mail courier this morning (pre booked online yesterday).
Expecting results by text in 3 days.
What a palaver. What cost and time.
Compare that with a simple saliva test. Yes please.
Thank you Metus20!
Also in hindsight would Medusa have made the website public before at least a working prototype
https://medusa19.com/
Sorry wording still says " Coming Soon
Avacta’s COVID–19 rapid antigen test currently in development" not yet updated website still work in progress !
Sorry wording on "Coming Soon
Avacta’s COVID–19 rapid antigen test currently in development
I see that but what I was suggesting is the website would not exist until a prototype had been achieved.
It says rapid test not strip test, I believe this relates to their own internal testing capability they mentioned before. This is not in relation to the Cytiva or Adeptrix test, this is Avacta direct!!! Pure profit!!
Yes medusa19 website not changed since inception great find from metis20 ""As previously announced, Avacta has entered into an exclusive global distribution agreement with Medusa19 Limited ("Medusa19") for direct-to-consumer sales of its newly developed saliva-based rapid test for the COVID-19 antigen, subject to regulatory approvals."
Fingers crossed available ASAP please !
Tatty. If your email result comes back as test “void” It will say you need to book another test ASAP.......but then system will not let you book for 14 days!
Thank you for that metis20. You've forced me to open a bottle of my favourite Stroud Brewery "Budding" and it's only on very special occasions I have a drink before lunch. I wish I was as careful as you at reading RNS's!
Some great posts here this morning. Thanks all.
Indeed, it’s amazing how much cream rises to the top without the dckhead traders clogging it up with utter sh.te
That traz is like that
Sorry to be a party pooper (and I am on the list).
BUT surely the development of a working test that is waiting approving is material to the company's value and as such would have to have been RNS'd?
That’s the point Tim, it was! Also they don’t have to announce the very moment something is developed, just before they make it non company confidential!
Genuine view, I am confident the strip has been developed in the sense of successfully binding the Affirmers to the strip but presume testing is ongoing for readings etc? Hence no rns at present? I have little doubt that the required 80%+ will be easily exceeded but it would be good to see the results and also learn when FDA approval is likely. Only then can we expect advance orders ahead of mass production, but the figures could be huge and the sp should respond accordingly. JUst my musings, dyor.
Chendog glad to see your acknowledging an outburst at the fundraising there was many more than you.
Avacta showed strong leadership and made exactly the move I was looking for with the fundraise.. topped up and my average is now 84p will be holding...
GLA... some exciting times ahead...