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....reaction to latest RNS. Seems like very firm holders here.
I expect he/she 'didn't want to be out of these over the weekend'!!! Hope they were right.
....a 'marge today but perhaps jam tomorrow' report. There are three reasons to stay put though:
1) In a good field, human health, and diversifying its income streams
2) If a bid were to come along, the cash in the co plus the client base and goodwill is worth a lot more than the present SP.
3) Must be a small to miniscule free market since it is pretty much a microcap.
Still over £24m cash in the bank too, which is half the market cap!
Group revenues lower as expected but recovering well, increased headcount as the company is expanding which is an amazing achievement during this pandemic, I especially liked these two paragraphs regarding new tests.
1.5 COVID-19 Products
Towards the end of H1 FY21 we launched two automated immunoassays for the detection of SARS-CoV2 IgG and IgM antibodies, which can detect past infections as well as providing critical public health information. We also provided outsourced manufacturing services to The Binding Site (UK) for their ELISA-based SARS-CoV-2 antibody test. Revenue from COVID-19 products amounted to £0.4m during Q2 FY21.
With the potential arrival of SARS-CoV-2 vaccines, public health studies into the virus should increase as there will be a need to measure the success of the vaccination programmes. There should be a growing interest in monitoring the overall antibody level in a population to measure the attainment of a protective antibody level nationwide for achieving herd immunity. This could drive increased sales of our automated SARS-CoV2 antibody tests.
The above tests are used to confirm past infections. However currently the market focus is on testing to verify an active infection. Therefore, in conjunction with one of our partners, we are working on the development of a saliva-based rapid test for SARS-CoV-2 antigens. This manual test, which has the potential for self-administered use, would allow for immediate identification of individuals with an elevated amount of SARS-CoV-2 virus and be extremely helpful for curtailing the spread of the virus. In addition, it will overcome the shortcoming of presently used rapid tests based on nasopharyngeal swabs, which rely on sampling by professional staff only.
1.6 Assay Development and Product Registration
In Europe, in addition to the two automated SARS-Cov-2 tests we released the IDS Automated Cortisol assay, which rounds out our automated hypertension panel. We also entered the field of therapeutic drug monitoring, with a panel of four new tests co-developed with a partner. These are the first such automated tests on the market. They are used to monitor the efficacy of Infliximab (trade name Remicade) and Adalimumab (trade name Humira) which are antibody-based drugs used in the management of chronic inflammatory diseases.
In the US we achieved 510k approval for our BAP assay and expect to make the first sales of this key assay to a major US laboratory chain during H2 FY21.
4.35pm! Gives folks time to digest bad news over the weekend.
It's on their website, under investor relations, financial calendar... here's the link:
https://www.idsplc.com/financial-calendar/
4.35pm?
,,,based on previous year.
Aren't the interims due today?
...if Liverpool is using IDS's Covid 19 testing equipment? If so, we can expect a big rise on 20 Nov when RNS out with Interims.
....ticking it up! Wait for the publicity on results!
News of the new Covid 19 test response might just create the interest in this. Worth holding onto anyway.
I believe the all time high was over 1200p, the company is well under the radar at the moment which will change once it starts releasing covid test sales figures, think of it like NCYT six months ago :-)
About to average down in one of my 'Flutters' (again) when something propelled me to look at this and do a bit of research.
This is a microcap already making profit and paying a dividend which has a Covid 19 Test giving an accurate result in 30 minutes. And what is desperately needed right now in UK? An efficient Test and Trace system. So i just had to take an interest here today at 1.98p. If - sorry, WHEN this becomes commercially available and widely known, it is quite possible, because of the small free float, that the SP could treble in hardly any time at all.
Bought a load today at 200p and will add more on any dips, I plan to keep them for the long term.
The reasons for buying, it's a very well run company, bod and ii's hold most of the shares with a small free float, huge cash pile to buy out rivals, they are well established in their market and they've started to roll out their own covid-19 tests.
The best time to Buy in, before the herd has even heard of this! ;)
The best time to jump in
draft, you in here too?
why is this down, what the hell
That £0.4M. COVID -19 revenue for one quarter could easily become £1M. per quarter once sales ramp up, even without the new COVID-19 products.
With those new products, it could be double that £1M. or more: say £2.5M. per quarter, which would be £10M. pa. annualised.
In contrast, IDH's routine diagnostic testing had recovered to about 85% of normal in September, and should soon be at 90% or more, if it isn't already.
And such a recovery to within 10% of normal would equate to annualised revenues of within £4M. of normal for this routine work, and improving.
Which is why I believe that there's a good chance that COVID-19 sales could soon increase IDH's annualised sales to higher than before.
IDH's IgM SARS-CoV-2 antibody test was only available for sale from 9th. October, so won't feature in the H1 figures.
And obviously the COVID-19 antigen test has yet to be launched, so has also still to contribute.
And even IDH's IgG SARS-CoV-2 antibody test has only been available for sale from 30th. June, and sales take time to ramp up.
That being the case, the £0.4M. in COVID-19 sales for the last quarter is very encouraging, and you would expect this to ramp up to multiples of that level.
So with other sales now recovering strongly, there's a good chance that COVID-19 sales could soon increase IDH's annualised sales to higher than before.
23rd Oct 2020 4:35 pm RNS H1 Trading Update
"COVID-19 Products
During H1 FY21 we launched automated immunoassays for the detection of SARS-CoV2 IgG and IgM antibodies, which can detect past infections and also provide critical public health information. We also provided outsourced manufacturing services to The Binding Site (UK) for their ELISA-based SARS-CoV-2 antibody test. Revenue from COVID-19 products amounted to £0.4m during Q2 FY21. In conjunction with one of our partners we are working on the development of a saliva-based rapid test for SARS-CoV-2 antigens. This test would allow for immediate identification of individuals with an elevated amount of SARS-CoV-2 and be extremely helpful for curtailing the spread of the virus."
https://www.lse.co.uk/rns/IDH/h1-trading-update-se9tywpdw15uwsx.html
This new COVID-19 antigen test is a logical extension to IDH's COVID-19 range and should be launched soon.
Now in bargain territory as sitting with 25 mill in cash which equates to half market cap.plus developing rapid covid test so should move from these lows quickly.
ministers spent more than £500 million in the last two weeks on laboratory-based machines that could more than triple the Government's capacity of 300,000 tests a day.
The source, who was not named, revealed the government is buying new machines capable of processing 150,000 tests per day with the aim of trebling the current capacity of 300,000.