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Seems that Sky News has finger on pulse
https://news.sky.com/story/what-are-the-different-types-of-covid-19-tests-and-will-they-get-us-out-of-lockdown-12068081
Well, the last PR news as far as virolens is concerned was at the end of March. There was comment in directors talk a month ago, but these sort of interviews are subject to embargo and scrutiny.
It is heartening to note that the SP is holding up well. Perhaps things may get a little rough if silence continues
On a positive note, the longer it is before we get news, hopefully the better the news that will be!
What we do know is TT took on an extra 100 staff for these machines, I'm expecting the news to be very good! Patience is the name if the game...
To be able to tell you iAbra from your Innova is all it takes. A test too far for the UK government .
Here’s the story. Nothing to do with iAbra...
Liverpool results show Innova (Chinese) lateral test miss 3 in 10 positives with HIGH viral load - Dec 2020!
https://www.bmj.com/content/371/bmj.m4848
The Govt were told back in Nov 2019 that the Chinese Innova test wasn’t fit for purpose
https://www.bmj.com/content/371/bmj.m4469
Since the govt has spent £3bn on Chineses made Innova Tests (Bidstats)
https://bidstats.uk/tenders/?q=innova+covid+testing
It has now been revealed during an EUA (emergency use approval) in the US that test results have been plagiarised. They cut and paste test results from successful applicants to achieve FDA authorisation.
The product has been recalled in the US as it’s a danger to health yet it’s still use by the UK. Why has all our cash gone to China for this fake product?
The FDA safety communication ...
https://www.fda.gov/medical-devices/safety-communications/stop-using-innova-sars-cov-2-antigen-rapid-qualitative-test-fda-safety-communication
The product recall page ...
https://www.fda.gov/medical-devices/medical-device-recalls/innova-medical-group-recalls-unauthorized-sars-cov-2-antigen-rapid-qualitative-test-risk-false-test
The FDA were aware of this back in March prior to a second £1.2bn spend by UK plc
The FDA warning letter ...
https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning-letters/innova-medical-group-inc-614819-06102021
Now picked up by the Biotech press ...
https://www.statnews.com/2021/06/10/fda-accuses-company-of-distributing-unapproved-covid-test-using-falsified-data/
Trek
As I understand the Innova test is like a litmus paper quite different to iAbra.
The question is whether the UK government has bet on the wrong horse. Should iAbra/TTG/Virolens have been given a bigger role?
If the assumption that this article refers to iAbra and/or Virolens, then it would be reasonable to expect announcement as a Regulatory News Statement (RNS).
"California-based Innova, the world’s biggest rapid COVID-19 test maker, is setting up a factory in Wales that will produce millions of tests a day.
CEO Dan Elliot told the Financial Times (FT) that the UK was a key market for the company in which it is making large investments.
“We’ve been a good partner to the government, the government’s been a good partner to us,” he said.
Innova, owned by private equity firm Pasaca Capital, has supplied the UK with more than 1 billion tests produced in China, as part of contracts worth more than £3bn ($4bn), FT reported.
The UK, Innova’s biggest market for lateral flow devices (LFD), has spent more than £100m transporting these and other tests from China."
However..
"Americans are told to STOP using controversial rapid Covid test that Britain has spent £2.8BILLION on because it doesn't work as well as manufacturer claims
the Food and Drug Administration (FDA), which regulates medical devices used in the US, has revealed it has 'significant concerns' over the accuracy of the test and has called on Americans who have bought it to throw it in the bin.
Prominent critics of the kits said the move was 'troubling'. UK health officials have yet to respond to MailOnline."
https://www.dailymail.co.uk/news/article-9676137/Americans-told-STOP-using-rapid-Covid-test-manufacturer-LIED-good-are.html
250 was a big TA step and it’s held above. Market seems pretty agnostic towards Virolens, which is great. TTG is just moving ahead nicely under its own steam as a solid recovery play.
All things electronic, well any ‘stuff’ really from semiconductors to lumber to cotton is in demand!
I note how it’s a jagged climb 2 up 1 back, even intra day but it looks like we are heading for £3 now.
Chuck Virolens on top of that and it will be very interesting!
Trek
Over the last few days, press reports seem to be more downbeat on the re-opening of the UK economy from 21 June. The decision being taken on 14 June, if my memory serves me correctly. The inference is for a delay of anywhere between 2 weeks and 6 weeks.
I am beginning to feel that a delay is actually going to benefit the share price of TTG as one of the more tangible benefits of the removal of restrictions is air travel. Hopefully, behind the scenes the Foreign Office and their counterparts around the world will be working on having common controls for Internation passenger movement. Once common agreement and infrastructure is in place, then announcement to ease travel restriction can be made.
Pretty sure that iAbra and their partners worldwide for Virolens deployment are in full swing and may be subject to political embargo of any announcement.
In the meanwhile, it is comforting to see the trend remain intact.
Hopefully this is in preparation of something meaningful to the shareholders of TTG. SP also slowly edging higher, so let's wait and see.
As we twiddle our thumbs, the Key Options website for virolens has been re-activated. Although an image presents a machine with an aircraft symbol and barcode (presumably as safe to fly), it does not confirm rollout in any airport.
https://virolens.keyoptionsgroup.co.uk/
As you probably know, iAbra is the key to revenues from Virolens. According to medicaldevice-network, other partners are also involved. One of which is Key Options. Basically, KeyOptions provides data driven service and has secured the rights to bring Virolens testing units to Australia, Latin America, Turkey and SE Asia. The link in the KeyOptions website to virolens is set as a holding page at the moment.
It might be that news is imminent that is currently under embargo
The optimst in me relies on being a simpleon. And while I can see all sorts of technical reasons not to invest in TTG froma short terj perspective a the moment, momentum from the longer term puts this as a very solid hold.
The tipping point IMO is where we are right now. The shares have tried to close above 250p for a few days now but just fail each time. However, it is not for want of tries. There is a niggling doubt that orders are not going to happen which is providing the limited upside, but the support for downside because there are plenty of other revenue streams.
I prefer to average up these days so have a little dry powder. The longer the wait for the company to win orders, the greater the potential for drift in the share price. I am actually rather more inclined to reduce my holding and bank profits than to invrease exposure to unnecessary short term risk. Continued delay will only increase volatility.
I fear there is wild activity ahead.
Still so many AT ALGO trades.
https://api.londonstockexchange.com/api/gw/lse/download/TTG/trades
Thought we’d have had some orders for Virolens by now given MHRA approval and Scotland approval news.
They have said most orders are likely to be international but no update yet from iAbra.
Meanwhile TTG is ticking up nicely of its own steam. We just need to hold above 250 resistance to extend that rising trend to ATH around 290.
The 50DMA is above the support, lower turquoise line.
All looks very bullish on its own. Bring on some news!
https://www.marketscreener.com/quote/stock/TT-ELECTRONICS-PLC-4002367/charts/
Trek
Bullettin boards have a nasty habit of attracting highly focussed remarks which have a sense of urgency. Of patticular concern to me are those that claim to have very substantial holdings and are following every nunce, twist and turnin the share price and claim that they are investors not traders and are not concerned about being underwater as their focus is on the long term.
More often than not, I will use the filter facility specifically on those that take this line. It is clear to me that they are worried about their exposure to the instrument involved and rely on the psychology that applause to their comtribution will mean that all will be well. Often these same person will claim market manipulation, short attack or some other unsubstantiated element to justify frustration.
I think that there has been just one occasion when I moved the market in an equity. It was a very lightly traded stock and i had “fat finger syndrome”. I placed a buy order for £10,000 shares and totally unknown to me at the time the NMS (normal market size) was £2,500. This was based on the average bargain executed over a rolling 3 month period. Now, £10,000 is not exactly big beans, but it was over 3x NMS so triggered an automatic 1 hour delay in reporting. (I did not know that at the time), but the market makers got a little excited. The share price began hopping around and in turn it triggered a flurry of bargains including trades between brokers. These are uncommon these days. The price moved up 0.75% and never fell back. Co-incidence, IMO as private investors tend to fizzle out when executing single bargains greater than £250k. The real movers are news and fund managers. Sadly with the proliferation of algorithmic bargains, fund managers can disguise their tracks.
I doubt that I could move any equity with a bargain of that size these days.
The strategy therefore is to ignore the loudest voices on BB’s and certainly ignore those that appear desperate and bang on about the benefit of a long term view.or that the market makers will not prise a share from their hands until it reaches £xyz.
The wise can learn more from a fool than a fool from the wise. I have much to learn.
Also 2 mins per test, allthough that sounds v fast, is considerably longer than 20 secs for Virolens, which would make a big difference in a mass testing scenario...
"Each disposable test cartridge contains multiple sensors and a unique QR code which is linked to the user's cell phone or another connected device. "
How much will these disposable cartridges cost with multiple sensors??? Multiply by thousands per week? I do think they will be more suitable for small numbers, however Virolens will probably be far cheaper per test.
MM’s must have posted a scheme. As soon as it gets close the 2.50 the AT ALGO trades step up.
https://api.londonstockexchange.com/api/gw/lse/download/TTG/trades
Trek
To sell when the risk of owning shares has increased and it no longer benefits me. There is no advantage in setting a price as I have learned to run my profits. The sectors that have the greatest potential in the years ahead are renewables, healthcare and technology IMO so over the last 3-4 years have been skewing my portfolio in those directions.
Other sectors have short term influence that I expect to do very well so will use Investment Trusts to enjoy any uplift. UK as a market since 2016 Brexit announcement has been avoided by international investors. Press reports and influential commentators such as the Bank of England Chief Economist are talking up the prospects. Thus adding to my holdings in THRG and MTU.
Not, of course advice, simply my thought process and execution of decisions that I am making. My ISA and that for my wife are managed for me. I look after our SIPPS, tiny dealing accounts to which monthly savings are added and the acounts for my children.
My financial target is simply to beat the market. Sometimes it is beaten by a wide margin and others not so. I am improving where for the first 20 years averaged 8%, years 10 to 30 had improved to 12%, 20 to 30 improved slighly to 12.5% and now is running very well indeed with the best years having gains of over 20%. This has brought my long term (42 yr) average to 13.6%
What’s your target Alas?
If it is similar to Virolens, that is probably very good news despite potentially as a rival to TTG. My thought process is that active air crew in service should have different tests from passengers and in using similar, though, I assume with different patent protection for the IP thus endorsing the use of rapid screening and minimally invasive.
https://www.prnewswire.com/news-releases/canarys-25-second-98-sensitivity-digital-covid-19-saliva-test-achieves-ce-mark-301246811.html
BA trialling it with crew
This has been endorsed with a buy note from RBC issued today - target increased from 280p to 290p.
Obviously the trading update is for past 3 months, so very little trades done regarding Virolens (financially) what we want to know is the orders for this machine and the value of those orders. I have no doubt that question will be asked today.