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MB, I think your post is on the money in terms of market capitalisation of ODX being ridiculously cheap.
The only area we differ is on revenue / profit per RTC test, I just can’t see it being as low as £1.50 profit from £13, based on what we know our current Covid test costs to manufacture which is around £1.60 and even allowing for distribution / marketing costs then it has to be £10, if of course the RTC as a consortium is an equitable partnership.
On 8M tests a month that’s £80M EBITA profit, close to £1B cash per annum.
Let’s hope I am right but I just can’t see where /who takes the other £8.50.
No need to comment , personal opinion ,we will soon find out one way or the other.
One more time.... reasons to buy/hold
UK RTC - Could say the flagship product that will make the front page
Approved for professional use
ABC-19 branded, with website and social media presence
Awaiting MHRA approval after Ulster usability study some weeks ago now
Exceptional performance
MOU expires next week and we except a long term supply agreement
200k per week committed per MOU - look out for an increase
Likely linked to UK Gov policy
Expecting mass testing with tests sent to every household - boots/amazon
Link to testing app and NHS data
Global Interest
New report published today validating the test as a competitive alternative to the best lab tests
Hi activity from partners, including deleted UK Government contract tweet from BBI
Mologic Antibody test
Triple antibody lateral flow device for professional use
Only approved test of its kind
Visitect (Mologic branded)
Mologic seeking WHO approval
Excellent performance
Commercialisation expected to have started last month, as evidenced today by a couple of online distributions showing the product for sale
Capacity going to 200k per week
Elisa Antibody test
Good performance
Some local registrations
Need to find out more about approvals and sales
Antigen tests
Elisa Lab test development due any day
Lateral flow test to follow shortly after lab test
Lateral flow used in Heathrow trial
To be branded under the Visitect brand
Evidence of distribution agreements already in place
Higher price than antibody tests therefore profit potential is vast
Potential to be at the front of the race to achieve a self use test
Core business
Visitect CD4 test WHO approval and expect new orders including US interest.
Covid Visitect tests can help with distribution agreement relationships for CD4 tests, in particular in the US where relationships broke down
Orders already in and expected to grow
Only test of its type
Chine food tolerance self test approval overdue
New tests in development with funding for future use of capacity
Already profitable
General
Lateral flow capacity increased to 500k, plan to go to 1m, and looking most likely will be extended further
High recruitment activity evidenced
Excellent cash position with funding for immediate expansion
Zero debt
Low admin expense
Growing evidence of Antibody immunity
Covid highlighting the need for a robust national diagnostics industry, with huge potential for long term growth in supporting the countries health system
I am sure there are many other things that i have missed, but i hope above shows why i wouldn't want to be invested anywhere else at the moment, and anyone not accepting the high share price growth opportunity here has no idea exactly how big this is going to be. Covid has put Omega on the map, and with the profits it will make it can create a monster in this under penetrated diagnostics market.
Merchantbanker.
Please subdue things. The last thing we want now is a takeover just when everything is about to fall into place.
Also great find earlier and as always excellent posts.
Atb
There maybe others ways to flex capacity, longer hours and/or sub contract rather than cease development work. Not sure we actually know if 2m is 7 day working or early/back shifts?
2m maxed out capacity for 2 years would giver them around £300m in free cash flow, so get to 5m capacity talking £750m in free cash flow over a 2 year period. I really thing that even the most bullish supporters really do not understand the significance of the cash flow generation.
There are reports out there saying covid testing will be around for 5 years, even if it starts to slow down after 2. A short delay in development will do no harm to get capacity up now.
Yes but don't miss out on tens of millions of revenue over the next 2 years at the expense of investments that may take significantly longer to generate that level of income. They will have a cash war chest of hundreds of millions if they get Covid tests right. Do whatever development you want with that.
The R&D team are free for projects now they've nailed this one? It should be their job to make sure capacity if filled post Covid.
Upomega - yes agree long term, but holding off £3m spend for a few months (i doubt it's all spent from day 1 anyway) they will bank considerably more than £3m over the coming months
Bigjock
The time they set themselves was approximately 6 weeks. They failed to complete in the window they gave. Hence they completed on swab.
There is nothing bad about admitting that. It’s in the RNS.
Merchantbanker . If your referring to the expansion of the visitect platform.
Inmv they should proceed with the two developments which as I I understand will start year end. Important for the long term of the visitect devision. Also it would not look too good re the fundraise
Incorrect Safy gdr are still working on it with BC
Better to get the facts correct before slandering other shares
GDR worked together with a global giant in Beckman Coulter, BC are part of Danaher group. Look up Danaher SP.
It’s very very hard to crack saliva.
Yep Safy - We are recruiting in Littleport too and expanding capacity there too.
Are people starting to understand now what a masterstroke Colin has pulled with Mologic and why 80% of capacity is reserved for Mologic tests.?
My message to Colin - put the 2 new development tests on hold and use that money to increase capacity up to 5m and beyond. It will pay for itself in a matter of weeks.
Merch
If Mologic crack the Elisa antigen ‘Saliva’ it’s MASSIVE. CK confirmed the aim is for Saliva NOT swab.
GDR failed to do It with Beckman Coulter jv, read the validation RNS. How many saliva covid tests exist in the UK in a live government setting? Zero to the best of my knowledge.
Spit in a cup and done. People underestimate the importance of Saliva testing.
UK RTC - Could say the flagship product that will make the front page
Approved for professional use
ABC-19 branded, with website and social media presence
Awaiting MHRA approval after Ulster usability study some weeks ago now
Exceptional performance
MOU expires next week and we except a long term supply agreement
200k per week committed per MOU - look out for an increase
Likely linked to UK Gov policy
Expecting mass testing with tests sent to every household - boots/amazon
Link to testing app and NHS data
Global Interest
New report published today validating the test as a competitive alternative to the best lab tests
Hi activity from partners, including deleted UK Government contract tweet from BBI
Mologic Antibody test
Triple antibody lateral flow device for professional use
Only approved test of its kind
Visitect (Mologic branded)
Mologic seeking WHO approval
Excellent performance
Commercialisation expected to have started last month, as evidenced today by a couple of online distributions showing the product for sale
Capacity going to 200k per week
Elisa Antibody test
Good performance
Some local registrations
Need to find out more about approvals and sales
Antigen tests
Elisa Lab test development due any day
Lateral flow test to follow shortly after lab test
Lateral flow used in Heathrow trial
To be branded under the Visitect brand
Evidence of distribution agreements already in place
Higher price than antibody tests therefore profit potential is vast
Potential to be at the front of the race to achieve a self use test
Core business
Visitect CD4 test WHO approval and expect new orders including US interest.
Covid Visitect tests can help with distribution agreement relationships for CD4 tests, in particular in the US where relationships broke down
Orders already in and expected to grow
Only test of its type
Chine food tolerance self test approval overdue
New tests in development with funding for future use of capacity
Already profitable
General
Lateral flow capacity increased to 500k, plan to go to 1m, and looking most likely will be extended further
High recruitment activity evidenced
Excellent cash position with funding for immediate expansion
Zero debt
Low admin expense
Growing evidence of Antibody immunity
Covid highlighting the need for a robust national diagnostics industry, with huge potential for long term growth in supporting the countries health system
I am sure there are many other things that i have missed, but i hope above shows why i wouldn't want to be invested anywhere else at the moment, and anyone not accepting the high share price growth opportunity here has no idea exactly how big this is going to be. Covid has put Omega on the map, and with the profits it will make it can create a monster in this under penetrated diagnostics market.