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@Scardey - I've read that phrase before, and recall it appeared after that strange Huffington Post spat below the line between Avacta and the DHSC; shortly after Al sent out his "contrived samples" RNS.

I mentioned this before, but Mologic are so frustrated with the government, at one point there was talk of an open letter being published to them...

We know Al has thrown some shade at the "contrived samples" used at Porton Down in previous RNS's, and that both Mologic and Avacta have failed futility testing at Porton Down, yet achieved high performance results in clinical trials.

So it's interesting to note in the contract for LFT validation services that it states:

"Importantly FDA states the following (in its guidance for the evaluation of antigen Assays)4:

Use of natural Clinical Samples is needed for the clinical evaluation. You should not use
Contrived Clinical Specimens as FDA believes they are inadequate to support the clinical
performance of a Test Product of this type."

Looks to me like a tacit admission the Porton Down validation process is flawed...

https://health-family-contract-search.secure.force.com/servlet/servlet.FileDownload?retURL=%2Fapex%2FProSpend__CS_ContractPage&file=00P4J00000HBRuCUAX

You'd almost think they have an agenda or something

She's having a little wobble while Julie looks for her stamp, but I reckon she'll push back up this afternoon.

The price is sat on the trend line and seems to be bouncing off the 20 day Moving Average; the 50 day MA is just below that which I imagine will provide further support.

The dip is lower than those immediately after the CE mark was submitted, yet we're much closer to news - I think you'd have to be brave to sell at this point and I doubt many more will...

We'll find out whether I eat humble pie at 4.30!

Further to yesterday Wyndrum, when you put it like that, I find the argument more convincing.

I still think they're just being slow though - the CE file was only submitted seven days ago which isn't very long; clearly there's no urgency on their part but I wouldn't think it's been especially 'delayed' (yet)

Myles McNulty...

https://twitter.com/MylesMcNulty/status/1394675863053086726?s=20

^Apologies for the various typos!

Wyndrum - I think if they were trying to run down the Innova stockpiles it would delay a contract, but not the MHRA approval. If they wanted to replace Innova with Avacta, but run down stockpiles first, surely they would just delay distribution in any case?

MHRA is a civil service organisation that runs independently of the government; were it proved they were deliberately delaying approval I imagine it could have legal consequences for them, as Avacta would be pretty angry.

Having lived with a Civil Servant - and watched the catastrophic mishandling of the pandemic over the last 12 months - I would suggest that incompetence or general bureaucratic ossification is a more likely course of delay than conspiracy.

Equally, it's only been a few working days since the submission of the CE file, so personally I wouldn't consider it delayed until next week really.

More speculatively, I could envisage them holding up approval until it's confirmed the test detects the Indian variant. Given it's clearly set to become dominant, I imagine that would be a concern. We also know from previous RNS's/Statements PHE have been assessing the test again the SA Variant - it would be strange if they did not also do this for the Indian Variant also IMHO.

We'll find out 'shortly' in any case I'm sure!

Is this possibly related to ISO certification?

Given the information flow is presumably MHRA > Mologic > Avacta, I suspect those who think it's going to be an intraday announcement are probably right...

Open now!

I've got the same; they do it to limit volatility.

Is it possible they are aware of major news from the NOMAD? I don't know how plausible that is but perhaps someone does?

@luke - the ask shot up 7p inside a minute to 276, so presumably someone took a big chunk of shares (it's fallen back a bit since then though)

Looks like someone expects news tomorrow...?

Tony, the wait overall has been frustrating, but its completely out of his hands at this point; Mologic submitted the CE mark, the MHRA will approve it...

As soon as those sales start i'm sure your view of the captain will improve!

Good find!

Nothing of substance, but he did say universities would resume in person teaching and students would be tested twice a week - which implied to me regular testing will be a key part of the wider reopening going forwards...

She's looking good!

It's very exciting!

275p is the top of our range and we're looking good to close above it - we always seem to take a day to process news so I can see us having a go at £3 tomorrow; especially if Boris starts talking about LFT's tonight.

Otherwise I wonder how soon we will get news flow on other OEM's, distributors, etc, now the CE mark is pretty much in the bag?