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It's not filled but buying pressure returned at 160 - gaps can also act as support - so if it pulls away from here that might be it; looks like sellers are becoming exhausted
Puggle - you will also observe that as soon as that gap 'fills' at 154, around 95% of the negative posters on this board will disappear. Funny that...
AS stated clearly in the webinar they are still engaged in Porton Down process. Given numerous tests have passed PD, but we have struggled with their (flawed) “futility testing” (like Mologic), the fact we are still engaged with the process suggests to me their is still a high level of interest on behalf of the Government, who’s states objectives remain in procuring a British based test and moving to a “test to release” system on a national level.
Also worth remembering that Avacta haven't spent the last 12 months developing just a Covid LFT, but a 'scaleable lateral flow architecture', designed for use with A/N swabs, into which new Affimers can be easily be inserted.
So in other words, as long as the sample format remains the same, the process of developing new assays for the same sample format is greatly streamlined.
And as they develop new formats (eg: finger-prick blood, etc), in principle the same rules apply: the Affimer changes, but the architecture remains consistent - over time, you can see how that builds up quite a stable of products...
We've been able to market the test since the CE mark was registered in Europe, last week, as for reasons well established there is no commercial LFT market in the UK for as long as HMG keep giving out free tests.
Clearly commercial roll-out is just that, a roll out - and will take some time. We have had our first distribution agreement confirmed today which is just ten days (including weekends) since EU CE was confirmed.
No other test on the market is being limited by Delta Variant confirmation and so I don't see why this should inhibit our sales.
Overall I am disappointed in how long it has taken us to come to market, but confidence we will see a stream of orders over the coming few weeks.
Matt Han**** confirmed this morning that they are moving to replace self-isolation with regular testing for those who are vaccinated, so clearly this testing/vaccine binary isn't holding true for the government at least...
"self testing is very important to both Medusa and ourselves"
Because Medusa are undertaking the usability study required to gain the CE mark, and the relationship is bound by confidentiality clauses - he's made that clear if you read between the lines, plus we've seen (on this board) that Medusa have been recruiting for this study.
Confirmation that Medusa are working on the self-test usability study
'A Lot' of commercial discussions ongoing; additional overseas capacity of 1 million a day 'quite far along'; company still engaged with Porton Down pathway to Uk GOV
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Innova have been featured in nearly every major newspaper in the last few days; on Newsnight at length; on several TV news packages...
Hopefully the Mologic fiasco puts the slipped timelines in some perspective - it looks like it was less to do with Avacta and more to do with the flawed PD process.
I know we were in PD before Christmas and that we've also been hamstrung by the flawed futility testing procedures - this was more or less publicly confirmed after the Huff Post article, Al's sniping in RNS's and in the annual report. Al's also previously commented on a 'disappointing access to samples' for BAMS.
If one thinks back to when it was announced validation was to take place in Spain, I think you can start to see that a test was ready for clinical evaluation broadly in-line with Al's timelines - but was contingent on the Government for access to validation procedures.
It seems to me the moment Avacta announced they had shifted over to Spain was the moment they pivoted away from focusing on the Government here, likely following several months of unnecessary delay induced by Porton Down.
Given the delays have somewhat dented confidence in the ability of Alistair to deliver, personally I find this new clarity on whats likely happened quite reassuring - I think Avacta have been intensely frustrated by the Government across the later stages of the development process.
That said, we also know from RNS's PHE have been testing AffiDx against variants for quite sometime - which suggests to me that we are still very much in the running for Government contracts. Additionally, PD procedures have been changed to allow alternative validation pathways and recently updated to reflect FDA guidance that live clinical samples should be used.
The whole thing is a complete farce mind - though I suppose when this Government of charlatans has ****ed up every other aspect of the pandemic, why would you think test validations would be any different.
Still, onward and upwards - Europe/ROW awaits...
Yes^
Have texted some mates at the Guardian and the FT - hopefully will see something.
It's quite a big story so I imagine someone somewhere will run with it - Jo Maugham (good law project) has picked it up on twitter and loads of journos follow him.
I sent it to my mate who does the Covid testing coverage at the FT, so hopefully they will pick it up...
...if Avacta sent their evaluation data to the FDA, which included comparative performance data for Innova and triggered a deeper FDA probe?
Complete conjecture and very tin foil hat, but if Al has spiked the competition via the FDA then he’s even smarter than I thought!
@Agent B - this line from your comment I feel deserves more attention:
"A gradual increase in the proportion of UK-produced self-test LFDs is anticipated by the summer."
Thank you, Hants, for one of the few useful and reasoned comments on here today.
Yes, testing is over - that must be why they've just deployed the military to Manchester to hand out LFT's...