RE: Shorters concerted attack10 Nov 2021 17:22
Oriens1, HarChris -
From 27.09.2021 -
"Chief Executive Officer's Review
Continued strong momentum in H1 2021
Novacyt has continued to experience strong demand for its COVID-19 products during 2021, following its early mover advantage in 2020 and continued innovation, strengthening the Company's reputation as a global clinical diagnostics player. This has been demonstrated by the launch of 18 new products since the beginning of 2021 and the generation of £54.0m in revenues from customers, excluding the DHSC.
Novacyt has continued to drive revenue growth from new customers, particularly in private testing markets which is expected to be a key part of the Company's future success. Alongside strong sales into private testing in markets, such as the UK and Germany, the Company secured, post-period, new or extended supply contracts with non-governmental organisations, including with the World Health Organization (WHO) for the supply of its genesig® COVID-19 tests and UNICEF, where the Company has received confirmation that its existing Long-Term Agreement with the organisation has been extended by 12 months to July 2022. The Group has also signed a new contract with the DHSC under the PHE National Microbiology Framework, as announced on 18 August 2021, for the supply of PROmate® COVID-19 tests to the NHS until 31 March 2022.
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Private Testing Markets - particularly UK and Germany - Not sure how many contracts would be expected here, - more likely emphasis on generating repeat orders and capturing new customers.
Nature of contracts (post period end) revealed here, but not the value except - "18.08.2021 RNS - The DHSC contract is valued at up to £4.7m and will last until 31 March 2022. There are no minimum purchase levels as part of this contract.
So if DHSC want more than £4.7m of tests on a PHE Framework deal,
1 Company not obliged to announce anything until > £4.7m of tests delivered.
2 Company cannot say what revenue has been achieved before 31 March 2022.
3 The company can then say what revenue prior to 3
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From Full Year 2020 results and Strategy Update:
Strategy update highlights
Novacyt has continued to build on its strategy for delivering long-term growth, with the following organic and R&D growth opportunities identified
· Test menu expansion: Continue to leverage the Company's strong bioinformatics and design expertise to develop tests in three areas of focus
o COVID-19 testing - expanding test menu for new variants and innovate to support testing efficiencies and results delivery
o COVID-19 Plus testing - targeting expansion into closely adjacent areas of COVID-19, and biomarker monitoring to predict COVID-19 progression and to diagnose conditions in affected patients
o Post-COVID-19 testing - addressing unmet testing needs, such as pathogens resistant to antimicrobials, sepsis, and transplantation, for central laboratory and near-patient testing