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No. We have been told from the start that the next news would be test performance. It was clearly stated in the webinar. The tests have most likely now been developed and are being trialled in the lab to generate that performance data
Timster..deffo something dodgy about PL75
Wouldn't get too bogged down on the semantics of the word "DEVELOPED". Avacta themselves said it in May 15 news article on their website: https://avacta.com/diagnostics/covid-19/
See first video/media link: "Avacta CEO Alastair Smith speaks to News-Medical about the process behind the newly developed antigen test for COVID-19."
https://www.news-medical.net/news/20200515/Developing-a-COVID-19-Antigen-Test.aspx
There’s nothing in the May 15th in the past tense and I think there’s a difference between sloppy journalism and an RNS. Shirley, an RNS would be worded exceptionally carefully?
Seethreeipo but it would be so very important to deserve it's own RNS not buried in another one that's all I'm saying
Compare - "newly developed" (June 4 RNS) with " to develop" (May 15 news article)
in May 15 news article on their website: https://avacta.com/diagnostics/covid-19/
"Avacta is working with Cytiva to develop a saliva based point-of-care rapid test intended for screening of large populations to diagnose the COVID-19 coronavirus infection, and has partnered with Adeptrix to develop a high throughput laboratory test for the infection to run on the installed base of mass spectrometers in hospitals and laboratories."
and
https://www.londonstockexchange.com/news-article/AVCT/proposed-fundraising-to-raise-up-to-ps45-million/14564724
"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."
If we all missed this salient point re development then it would seem the Market may well have as well.
Just feel it could have been presented or reported upon in a more showy way.
What a total different environment here today ( no derampers ) with good informative posts.
Can I claim first mention of this …..
From 7.48am on the 4th -
Absolutely, also 'its newly developed saliva-based rapid test for the COVID-19 antigen, subject to regulatory approvals' implies the test is near there as does 'The Board anticipates strong near-term newsflow relating to the COVID-19 test developments with Cytiva and Adeptrix,'
I think that this is all very positive.
I’m with Tim on this one, considering they were RNSing deliveries a few weeks back - it’s either a miswording or not deemed significant enough yet and still awaits testing
I think the bit about it being subject to approvals is the most telling. If you haven’t developed a test you don’t need approvals.
Excellent rafboy
I was wondering now why the development of the test strip alone didn't deserve an RNS, as many of us were clearly waiting for some news on that front? What would it have added to the share price?
I think avct management was looking after their shareholders interest, unlike GDR, by not trumpeting about their LFA. They do not want avct to become an over inflated share, whilst the necessary work still needs to be carried out.
Clearly the share price has mostly increased on our expectations, not much on deliver of actual products for sale, per se. So, if avct did release a RNS saying the LFA was ready, before the placing, would it not the 40 day average been much higher, thus, an assumed already pre agreed price for the placing have caused a much painful drop in the share price, thus hurting later investors who clearly would have bought at a much higher price than 216p?
I have a sense avct doesn't want too much publicity, just enough to increase the price sensibly and to allow investors in, and attract institutional interest at a bargain prices before we blast into the stratosphere. Why not disclose who is the misterious American investor? Because they would be able to hold the price down due to the extra attention, thus allowing institutional buying at still lower prices, as they shake the likes of dreamachine and co?
Having said that, I think we will soon appear everywhere and all over the news, and then, no one can hold the share price as demand will be too much.
Time will tell, I guess.
St
So it seems that confirmation of working test should come before Thursdays presentation?
The word "developed" was also used by James Crayton of WalkerMorris on June 2nd when they published a statement on advising Avacta On Ground-Breaking Agreement For COVID-19 Antigen Test
Even better!