Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Novacyt are retiring the Microgen brand that's all, no job losses from that. Going forward anything that was a Microgen product will be a Novacyt product, made by the same people in the same labs and offices. And lab and office space is at a premium at Novacyt as the reviews and replies on glassdoor highlight
Redundancies are as usual back office, admin staff now and I predict some middle/senior management later. Standard stuff
Redundancies were never a foregone conclusion, they came about because of BoD disfunction, I highlighted this disfunction first with the terrible new website and continued with every botched thing they did regarding product launches, ads, RNS's since then
Reviews and replies on glassdoor show that this disfunction has existed for sometime so the covid scaling up or down is an irrelevant excuse, many other companies are having the same experience, the reason for the redundancies is a dysfunctional BoD.
Meanwhile those redundancies I predicted a while back have sadly and unfortunately started, hope the affected staff find new roles soon and hope this is a wake up call for the BoD.
https://www.linkedin.com/feed/update/urn:li:activity:6964111381616807936/
Very true, the business decisions taken regarding r&d and this info is critical to sales and so to the health of the business. Novacyt decided to only r&d covid for a few years so now they need to get their other products updated and yes they will use sequenced data from other orgs to do that I imagine. Incidentally there are other sources available, eg workflow processes get posted to github (looking forward to getting educated on why github is &$%@#). This work is very similar to software dev.
ASAP is also important, mainly as there will always be others competing, bearing in mind Nova is tiny compared to the medium to big players who have more resources and money (and customers)
The flu test/vaccine is determined by Australia, whatever strain they get we get 6 months later.
This profile explains how normal and common and straightforward all this stuff is, Novacyt is in noway special on these subjects, people are getting excited over the everyday tools of this sector.
https://www.linkedin.com/in/gemma-stokes/?originalSubdomain=uk
"Curating sequence data and mine public databases for sequence content periodically"
We are the only company using Genomic sequencing to develop a better test for a shifting set of goal posts.
No. sequencing happens all over the world on monkeypox, covid or whatever virus and any new changes/mutations are made available centrally and free online, Novacyt employees (and everyone else) use's when designing new products
No, a decision to release a new version is business not scientific, it's not necessary to update an assay to include a mutation unless the mutation is one that is of concern and an update is requested by customers. Who cares about mutations that don't change anything or don't spread, science might have an interest in a harmless mutation but not customers, hence business calls the shots
It is every companys focus is staying competitive otherwise they go broke. Nova has not stayed competitive, they focused 100% on covid for a couple of years and didn't keep the rest of their portfolio up to date, so now they are relaunching the portfolio and playing catchup with the market. Nova does not have a competitive edge anywhere at the moment tbh.
Bioinfomatics is database design and admin, lost on that bit
I admire your enthusiasm though.
There's no competitive edge to releasing new versions of tests, everyone has to do it otherwise your customers would switch to a more recent test from a competitor. Same reason Microsoft automatically install updates and patches on your pc.
Pity they didn't launch the new freeze dried assay using this test, think the market would have reacted better.
Well they've proven themselves capable of doing high profile in the past so no reason not to do it again. Problem is they'll never have another opportunity like covid. So high profile products will be about kudos not big profits they'll help to sell the stuff that pays the bills.
Although reading this BB it appears to be all the Tories fault and just selling monkeypox tests will rescue the SP.
The resident bipolar needy troll has sunstroke.
Very true, Nova has accumulated several hundred patents over time but very few are in any real demand at the moment, so a portfolio with in-demand tests would be a good starting point.
Sales and marketing is annoying, Nova pretty much had the world as a customer for 18mths, now the world doesn't want Covid tests but Nova hasn't got much else to offer at the moment so all those relationships are going to fade over the next few Qs unless Nova does something to keep them warm.
The longer the delay in putting together an updated portfolio of products to sell means it's harder to win back those Covid customers. The Covid profits in the bank are great, but that new business network that opened up for them was also great. If they do the right thing with the money and the new customers the SP should be healthy in a years time
poss 'go big' was a bit too much LSE spoofer-esqe. What is changing now is the portfolio (finally) they should have pivoted back from Covid r&d along time back. But updating the portfolio and the new freeze-dried assay in future releases gives them something to sell that's not Covid. Lack of m&a is frustrating and I'm downbeat on the dispute, but guessing they can turn the portfolio around over the next 4-6 Qs by then the dispute is gone and hopefully so worthy M&a (they've bought well in the past) will have occurred. More importantly the non-working bit of the comps management will be fixed by then.
Yeap over 12mths. Bullish. Esp if it dips.
Could not disagree more re Glassdoor it is without doubt the goto site for Talent/HR people in the western world. It is the most accurate site as it's the most monitored, company verified reps have a right to respond to reviews.
I'd like to see your source for your figures on people with grudges posting (I don't really, you made it up.) It's a very low % of people who post fake reviews on the internet in general, otherwise the internet wouldn't work. Although this bb is an exception, as a number of people here have suggested that action is way disproportionate to the general pop. but says more about LSE and you people than the internet.
Also your comparison to ebay/amazon reviews are also totally wrong, fake reviews happen on those sites for monetary reward, it's a business, they are not the result of grudges.
More likely to base investment decisions on glassdoor info than the anon spoofers here. Example Glassdoor has a review saying a con of NCVT sales was the limited portfolio at the moment, the HR response acknowledged the fact explained they went 100% Covid and are now fixing it. Ties in with DA's comments reg. relaunching Portfolio.
Here there are idiots saying NCYT have a huge portfolio
I wasn't overly concerned about the dispute until recently. Because I only focused on the contract being watertight(ish) so no big settlement if Nova lost (or won). But reading thro the reviews on Glassdoor (again) noticed a trend the recent bad ones are typical of a comp with bad management, the bad ones from early 2021 (when people started posting) are more disturbing. I hear alarm bells when I read 'unprofessional' 'disorganised' 'bullying' and the bad one 'marketing and sales has zero accountability'. That smacks of a cowboy culture back then and that means someone may well have made documented commitments outside of the contract that weren't/couldn't be delivered.
But it's not nec a bad thing if true, I wouldn't expect too big a judgment against Nova, it will be the reputational damage that will hurt the SP, it's evidence of prev bad management, and current bad management who didn't deal with it. It may well be the crow-bar needed to oust the current bunch and/or get Nova to turn that corner.
TBH if the SP goes under a quid I'm really tended to go in big (for me) on it
impossible to predict anything otherwise bookies would be broke. With a certain set of circumstances it could go to £20 with a different set 20p all you can do is try to predict what circumstances will occur in NCYTs world
OMG that SD Biosensor comp that's on the list is what Novacyt could be, they're impressive. Check out their Q4 update, ignore the figures (dream on) it's a thing of beauty.
https://file.irgo.co.kr/data/BOARD/ATTACH_PDF/166c7a4e-da3b-4527-b54a-37e31e0d887e.pdf
They also got funding from FIND to develop near patient testing in low to middle income countries, which sounds familiar!
https://www.sdbiosensor.com/board/news_view?post_no=13756&no=82&total=82&search_key=&search_text=&category=1
the supplier list for reagents is a bit random, seem to spend locally to the need. Premier Medical in India and SD Biosensor in SK are the big boys, there was 15-20mm spent on reagents so 10% share for NCYT isn't bad at all
Chinese tests got CE mark back in May.
https://www.globaltimes.cn/page/202205/1266657.shtml
On the ball them Chinese, they're big on pharma. Could I interest you in some freeze dried covid tests instead.