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Hi all,
I am genuinely confused. Its great news that visitect LFT detects Omicron, but I have seen nothing to suggest the existing LFT (chinese) do not detect Omicron.
Have I missed that part of the puzzle?
BB
Kenirogas,
This is a different test, TT for this Elisa Antibody test happened last year.
We await news of the Lateral Flow Antigen test TT.
Both test are in partnership with Mologic.
Proseco sorry, autocorrect!
Project,
This could be for the "test to release" (from quarantine I assume).
"Screen4 is a leading provider of COVID-19 testing services and diagnostic testing services to the aviation, petrochemical, occupational health and consumer markets in the UK and across the Middle east and Far East regions. Screen4 is an Approved Provider under the UK Government General testing and 'Test to Release' Scheme in the UK."
As always, news raises lots of questions.
GLA
BB
Hi all,
I am also slightly confused as normal. I understand what the Elisa test is, I wonder how the government will use the information? Test and release?
If you arrive in the UK get tested and then depending on the result get released. I always thought this would be an antigen test to prove a negative result.
This test flips that on it head? It seems to me a positive antibody test will allow a traveller out into the public?
Have I not understood again?
Many thanks
BB
Hi all,
a quick question for the more knowledgeable posters.
Is it possible that the mologic antigen TT needs to be verified on the new "Gov loaned" manufacuting equipment?
Might that explain why it is taking slightly longer then most people have expected?
Or would it not make any difference to the TT process?
Thanks
BB
Thanks Regulator,
Excellent news.
Hi,
The link below if from the bottom of the RNS and seems to be the pre print of the research paper the data is from. The paper is from the 1st of Feb, is it odd that Abingdon waited 2 weeks to release the report? Can anyone translate into layman's terms?
https://www.medrxiv.org/content/10.1101/2021.01.30.21250777v1.full.pdf
I don't fully know what I am looking at with this paper, it seems at first glance that the surescreen antibody was a tiny 1 % more sensitive.
"We performed a large scale (n = 4,842), head-to-head laboratory-based evaluation and comparison of four lateral flow devices, which were selected for evaluation by the UK Department of Health and Social Care’s New Tests Advisory Group, on the basis of a survey of test and performance data available. We evaluated the performance of diagnosis based on both IgG and IgM bands, and the IgG band alone. We found a clear trade-off between sensitivity and specificity across devices, with the SureScreen and AbC-19TM devices being more specific and OrientGene and Biomerica more sensitive. Based on analysis of 1,995 pre-pandemic blood samples, we are 99% confident that SureScreen (IgG band reading) has the highest specificity of the four devices (98.9%, 95% CI 98.3, 99.3%). "
This seems positive
"We found evidence that all four devices have reduced sensitivity at lower antibody indices, i.e. spectrum effects. However, the extent of this varies by device and appears to be less for other devices than for AbC-19. "
Seems to be good news for UK RTC, would love to see some antibody sales contracts now.
GLA
Thanks takingiteasy,
I disagree with the not price sensitive comment, but we agree on everything else.
On Monday every investor beleived ODX owned or had placed orders for machinery to manufacture 2 million tests week in April. Today we know ODX own some machinery and will be loaned some machinery to make 2 million test a week in April.
I know other posters posted last week that they believed ODX price for selling the tests might be different from Surescreen and GADs price. As they believed ODX had not received any financial help from the Government. It seems fair that all 3 have received assistance.
I wonder if the anticipated £2.50 profit per test will change now to nearer the £0.75 figure?
The upside is this leaves ODX in a much better cash at hand position.
So I think It is price sensitive
Still a very positive outlook for ODX, TT any day now, UK RTC antibody tests can be sold to other parties from Monday?
GLA
BB
Hi All,
I am confused about the equipment that is being loaned to ODX. Should we, as investors, have been made aware of this earlier? It seems to be price sensitive?
Originally after the placing last year, there was a plan to make upto 1 million tests a week, this changed to 2 million a week and I have no recollection of loaned equipment being discussed. I remember an undisclosed revenue stream in a presentation but can't remember an undisclosed investor or undisclosed loan of equipment.
So I just wondered if I missed the information, or it it was never declared?
I also wonder what manufacturing capacity will be in May. 2 million maximum? 2 million plus whatever the loan equipment can make?
TIA
BB
Hi all,
Does anybody have any thoughts on this.
Previously I was under the impression ODX would be able to manufacture 2million LFT a week without any outside help or laoned equipment. although originall when they rasised the funds they mentioned 1 million tests a week, which then increased to 2 miilion a week.
Looking at todays RNS ODX are indicating they will be able to manufacture 2 million test aweek with the additional Equipment from the goverment.
So the total manufcturing capacity could be more than 2 million a week, i.e 2 million for gov and X for other tests?
Any thoughts?
P.S. Really please to see the cash balance, there must have been lots of unreported sales, will they be announced after the 14th Feb.
GLA
BB
BigDano,
Where do you get 6 weeks from?
Colin King stated and Walbrook have confirmed to a few posters by email, that TT had commenced on the 30 November.
So in theory it is around 8-9 weeks now, allowing for Christmas break.
It really could be any day now.
BB
Vascular,
I see what you mean, and I do not know, very few things make sense at the moment.
One could argue that Mologic and ODX make the same test, so perhaps there is another test & the FT is partially correct.
If ODX knew of the article, I would have expected then to have spoken to the FT to clarify. I did find the article odd as it named 3 companies but ODX seemed to be an afterthought. It mentioned Mologic/GAD and Surescreen much more. It could have said "ODX are ramping up production and will be able to make 2 million tests a week in April", but instead it just said ODX declined to comment.
" Global Access Diagnostics, which currently has 70 employees but is planning to hire another 210 by April, is a high-volume manufacturing enterprise in Bedfordshire, which spun out from the diagnostics firm Mologic last year. It has received close to £1m in funding from the UK government and about £10m in equipment, according to Mark Radford, the company’s executive director.
It aims to expand its annual production of lateral flow tests from 40m to 250m by early May. SureScreen has received £11.3m in funding, according to publicly available contracts.
Omega Diagnostics, which has bases in Scotland and Cambridge, SureScreen and Global Access Diagnostics all declined to comment on contracts with the government."
The answer will be in an RNS soon enough. I don't think we will find out anywhere else.
BB
Hi Vascular,
ODX tweeted and RNS'd that they were aware of the article and didn't object to it or contradict it, they seemed to accept it, but they are unable to confirm any sales as there aren't any YET.
Hopefully soon.
Vascular,
ODX have not completed TT and have not got CE approval (or whatever it is called now). So they do not have an antigen test to sell. It must be really, really close to TT being complete, once this happens approval should quickly follow.
Could this be the reason? As soon as the above happens everything should fall into place.
Hopefully TT this week.
BB
Hi Snowking,
I think it is more complicated than that. The link below shows
2 x 6m reimbursements for manufacturing costs with options to purchase on 11th of Jan and 22nd of Jan
1 x 5.3m for raw materials on 22nd of Jan
I can't see any further details, but I am not used to searching on bidstats. I suspect the costs have not been published yet.
All will become clear soon.
BB
https://bidstats.uk/tenders/?q=diagnostic+kits&scope=keyfields
Yes, thanks to you all!
Phew, so we are back to ODX selling for £5.00 a test at 50% profit.
Looking forward to TT and Contract RNS Confirming this.
GLA
BB
Hi Snowking,
I agree it makes no sense.
£0.3 × 20 million tests = £6 million for sure screen tests
£5.00 x 20 million test = £100 million for ODX tests
Hopefully it is a typo, but even if it should be £3.00 per test for surescreen they seem to be selling a different price point to what we are all expecting ODX to be selling for.
Any Views ?
BB
Snowing,
In theory ODX have been making stockpiling Antibody tests for months now. I say this as sales haven't confirmed and they should be making between 6 and 9 hundred thousand tests a week now. So they should be able to focus on making the antigen test once it has acheived TT and approvals. They should be able sell the antibody tests from stock, for a good few months.
ODX has always planned to be flexible in its production.
In short if they have sales it's all good, they have a plan. If they get sales and profits they will be able to look at expanding if appropriate, Colin King has alluded to such expansion if appropriate.
GLA
BB
More details on Mologic
Looks like a $27 million grant from the gates foundation.
https://www.gatesfoundation.org/How-We-Work/Quick-Links/Grants-Database/Grants/2020/08/INV-022794
"Mologic Limited
Date: August 2020
Purpose: to develop an automated high volume manufacturing process to supply diagnostics tests at affordable prices to address the current COVID-19 pandemic
Amount: $27,318,422
Term: 16
Topic: Support Innovative Technology Solutions
Program: Global Health
Grantee Location: Thurleigh, Bedford
Grantee Website: https://mologic.co.uk"