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@CaptainSwag : With regards to US approval, I was under the impression that they cant apply for self test approval without it previously being approved for professional use. Could be wrong though.

I just get the impression Colin is like a rabbit caught in the headlights and hasn't got a clue which was to move. He's obviously way out of his depth. When it comes to public speaking he always comes across as a mumbling fool.

The issue for me is the whole company is basically in limbo, we have wondered what the hell have they been doing for the last year and we still really don't know, Colin was obviously overwhelmed by the DHSC engagement (for me he was clear that he knew the true nature of the contract, hence the RNS wording) but was hoping that the Mologic test would be approved and purchased, but had no plan for what has actually happened, but for him a lights-on contract that pays some bills is a winner (which it is, but isn't transformational). Are his senior team any better than him?, we have poor commercialisation and poor regulator engagement so it looks like they may all be cut from the Donkey King cloth.

There have been a number of red flags (PDMR Sales and long term CFO departing abruptly)

Lets wait and see on the 25th how much Colin's constructive engagement with the DHSC has meant to the bottom line, although I suspect the pouching and cassetting contract have not been very lucrative.

"Why does goden test take so long to get approval?"

Unfortunately its all about timing, at the beginning of the pandemic governments were desperate for options around how to deal with Covid, so the panic for them to get approved tests meant that the resources dedicated to processing approvals was massive and the process accelerated, ODX's slowness in getting TT complete and regulator engagement started means they are now just 'in the bucket' with everyone else, without government departments screaming out for approvals so the historical protracted approvals process is where we are, where the Chinese have played a blinder in their market knowledge and business awareness, (it may also have helped that they new the pandemic was coming 6 months before anyone else !)

"78 reasons why there have been no sales in a Pandemic"

Don't forget the classic ODX response, "Omega are not in control of the process"

Omega Diagnostics : Always a Day late and a yard short

@Captainswag: Not sure ODX fits into the pharma sector but rather Medical Services,

"As always with ODX it is no point having great tests if you don't get it out there and transform into sales"

Omega themselves have stated they hope to achieve 4-6M tests per year in the next 3-5 years achieving £12-18M annual revenue. (Revenue not profit) and 3 years out, this could dry up if Mologic decide its a good approach to develop their own CD4 test now that their focus is purely on the developing world supply

Food intolerance is small beer and is unlikely to achieve much in the way of "transformational" revenue streams as the numbers involved are so low.

We have heard nothing regarding the promised start of development of TB and Meningitis test, so that looks to be more of Colins pump for the placing, that will come to nothing

Like it or not this Company is a covid stock and the future road it progresses on depends on them commercialising the covid products in a large way, and that doesn't mean the small amounts they have been proud to announce to date.

"How long will the CEO fiddle while the SP burns"

The problem being is that Donkey King has put the company in a situation where they are no longer in control of their own destiny.

The DHSC (who show distain for UK manufacturers at every turn) have one ODX testicle in their hand, and the regulators (who offer no timeframe for approval/disproval) have the other.

How can the company spout the "transformational rhetoric" over and over again when in reality they have no clue whats going to happen today, tomorrow or in six months time

From Walbrook regarding the scope of the exclusivity agreement.

"With certain exceptions, including any demand from DHSC, I can confirm that the agreement is for Omega to exclusively supply and for DAM Health to exclusively use Omega's professional use COVID-19 antigen test throughout the UK and Europe.

Note that this exclusivity agreement centres around the 'professional-use' test only and does not cover the VISITECT ® 'self-test' which is waiting for CE mark approval.

Therefore the agreement does not cover the US, however, as stated in the RNS ‘there is also provision to extend this relationship beyond Europe, as DAM Health expand their international network of clinics globally. A further update will be provided on this in due course.’ "

"Hearing rumours that the application was just for professional use and not home use"

Thats not rumours thats confirmed by the company in numerous updates, Mologic submission to the FDA is for professional use only, the ODX submission to the EU has been for Self use.

This is why the "exclusivity" agreement with DAM for the professional use test was such a bolt out of the blue, because the company stated that they could still supply the DHSC (which by the way requires Self use approved test) but didn't make it clear whether professional sales to the US were now blocked.

Colin and his usual half truths

"If and When the self test approval is given god knows where this will go."

And that in one statement is ODX summed up, the company have no clue as if or when their approvals will arrive, and if or when they will be able to commercialise that product line, and the £80M+ mcap of a company that was previously described as "a primary school laboratory" swings in that balance.

You pays your money, you takes your chance !

@SneakySimon: I agree to some degree, but as GDR has clearly demonstrated it all comes down to getting the deals realised and the cash flowing into the bank. There has been considerable hype from many BoDs that took the pandemic as an opportunity to up the profile of their company and raise some cash as investors thought they could see an easy return, but as it turns out only a very select few have delivered on those promises, and those opportunities are becoming more and more difficult to commercialise as the panic subsides.

We will see in a couple of weeks if Colin has delivered or not, if not it comes down to how long investors will hold based on empty promises and very little revenue in what was supposed to be a transformational year, as to where the long term SP base will be.

Let's hope that "Colin the Donkey" has some good news before the interim results presentation.

It's clear that Bojo the clown is under the impression covid has gone away, as demonstrated by him not wearing a face mask yesterday when visiting a hospital, and Covid stocks that have failed to achieve any considerable revenue are returning to pre-covid levels.

If Colin has to make a statement anywhere close to the GDR results statement

"We had high expectations for the product that performed well in independent studies, but our commercial traction fell short of our expectations. In hindsight our product was too late to the market to benefit from the rapid wave of regulatory approvals"

Then the Donkey must surely be put out to the sanctuary, with the rest of the BoD especially Angela Robertson (Regulatory Affairs director, she has to be the first to go !

“so cost price around £15 per test.”

When they can buy antigen tests off the shelf in Europe supermarkets for less than 7 euro?

"And yet deaths and hospital admissions are on the rise and we are heading for flu season"

Well its a good job Omega are positioned to sell LFT tests to head off these peaks, oh no wait, we cant because this diagnostic giant of UK industry doesn't have the necessary approval to do so.

The Colin "the Donkey" show !

We are above the last issue pricing.

With inflation looking to approach 5%, barely !

The big issue here is that the company do not seem to have any handle on the timeframes they are dancing to

i) DHSC contract : In february, "we will deliver 2M tests a week in April", 9 months later not a single test has been "delivered"
ii) UK-RTC: All last year we had MHRA approval to come, 20months on we all know that outcome.
iii) US approvals left to Mologic, whose focus is on the developing world, no confirmed timeline even with the FDA fasttracking LFT approvals
iv) EU approvals targeted for July, now November and we still don't have a clue whether they are due within weeks, months or years, even with a reported shortage of LFT tests available
v) UK approvals, well that again has been a case of too much dependency on Mologic, until they realised they would have to go it alone, so well behind the curve.

So we can all point to the issues and blame other parties but decisions taken by the ODX board have got us where we are, there is no hiding that.

"I don't see any of those directors that sold in any hurry to buy back,"

Why would they, come January 2022, they all get the next go at the trough, for 15.4p

https://www.omegadx.com/Portals/0/200124%20-%20Grant%20of%20options.pdf

@Calderkate : When we see the interims at the end of the month, how much has Colin have got to have lost in this "transformational" year for you to start questioning he competency.

Calling him a donkey is and insult to donkeys.

We should have known there was something a miss when he spent the whole VOX podcast on monday mumbling, the guy is a perpetual lier and even when forced to inform investors its half truth after half truth.

Oh and we sign an exclusivity agreement for our product without any minimum order quantity !

Realist,

We seem to be going backwards rather than forwards, realistically Donkey King and his BoD have to be on the edge of considering their position.

We are surely at a situation where an EGM is on the cards, we are 18months from the 2020 placing and no commercialisation of any merit to show, a £374M government contract that has not yielded a penny, numerous product lines that have no regulator approval and no published timescale for that to be addressed.

"That £17 million machine must be doing something? All the extra staff, etc"

Do you actually think that if it was actually doing anything then Bojo and his bunch of idiots would miss an opportunity to shout it from the rooftops, the only thing that ever gets a mention when queried regarding the government support of the UK diagnostics industry is "we have purchased 20M tests from Surescreen" well 3 weeks of the country's usage, and thats it.

It sure as hell is doing something, gathering dust !