Member Info for Computer909

"The key point is, the money is taken up front"

For the EMI options scheme ODX operate, then the money is not taken up front, it simply gives them the "option" to purchase shares at a certain price after the vesting period.

The massive issue here is since January 2020 we have had 32 RNS concerned with options being taken, the vast majority have resulted in immediate sales of the shares on the open market. Some say rewards for good work, some say snouts in the through, you have to make your own mind up.

Colin has commented on share price stability, perhaps he needs to look at his own team to start giving the market an indication of stability in their own holdings

"Market makers have had the chance to walk down the SP due to nervous pi’s and a void in news."

Helped very much by the ODX management teams behaviour.

Waiting for the DHSC test selection feels a little like waiting for MHRA home use approval of the AbC-19 test.

I wonder if there is a similar get out clause in the antigen test supply contract that there was in the UK-RTC supply contract, and we will only be made aware when the government wants out.

Sure we will have to wait and hear on twitter rather than hearing through any official news feeds, as they wont deem that price sensitive unless its actioned again.

I also notice that the government / MHRA are ok now to approve home use for antibody testing (https://bidstats.uk/tenders/2021/W13/747896986) so it is "not drawing on resource intensive phlebotomy and NHS capacity", so looks like the MHRA aren't as independent as they like to make out when it suits.

I wouldn't trust this government as far as i could throw Boris, and i'm not sure Colin does either.

@Fast800 : "ODX does not have Millionaire Directors on the books .."

Bill Rhodes isn't a small company director that is blinded by the companies new found highs.

William Rhodes biography
William E. Rhodes, III., re-designated as Interim Non-Executive Chairman of the Board of Omega Diagnostics Group PLC. During his fourteen year career with Becton, Dickinson and Co. ("BD") (NYSE: BDX), one of the suppliers of medical, diagnostic and life science research products, Bill held a number of senior leadership positions, and until the end of 2012, was BD's Senior Vice President, Corporate Strategy and Development, being responsible for BD's worldwide mergers and acquisitions and corporate strategies. Previously, he was Worldwide President of BD Biosciences, a business segment with turnover of over US$1.0 billion that was comprised of Cell Analysis, Discovery Labware, and Advanced Bioprocessing, including the provision of flow cytometryinstruments and their associated reagents for CD4 testing used in a wide range of laboratory settings. Bill was also responsible for creating BD Ventures L.L.C., the venture capital arm of BD. Prior to working for BD, Bill held senior business
development positions with Pfizer Inc. and Johnson and Johnson.

He ain't short of a few bob.

Colin (via BJ) is aware that Institutional investors wont touch ODX with a barge pole whilst the share price is so volatile, and his management team seem intent on keeping it that way with offloads and poor comms.

@Trickymatters: If you think the recent PDMR selling is related to the EMI changes, why haven't all the member of the scheme sold?

Well now at least we know why the flurry of twitter posts in the last week, same MO as last time, jump on twitter to push up the price so the PMDR can get out at the best price. Just when we thought we were past these issue with ODX they take every opportunity to frustrate.

"No more forecasts and platitudes"

So for the DHSC contract we are totally in the hands of the government making a test selection, anyone have an idea of when that will be?

Latest from Walbrook on the question was "There has been no guidance from the DHSC on how long this process with take"

@NelsontheDog : "we can produce Mologic test and UK Gov can buy it under their exisitng contract if they so wish rather than continuing to purchase Innova at the same scale."

Unfortunatley the government require the test they purchase to have passed through the PHE , Phase3 testing from Porton Down, this is what we are waiting for to enable them to make a test selection.

“Mologic already has CE approval and yet the government has not chosen it as the sovereign test”

The Mologic test hasn’t completed PHE testing at Porton Down, which is what is holding up the DHSC selection ( neither has the Avacta test)

Easy for Colin to give bigjock some credibility, post the answers to any queries on the official ODX twitter feed

@walbrooke2021: although bidstats is a good aggregator for contracts it is not an official source, you should always reference the bidstat source reference for the actual contract release news from the government

@Daprophet: Ask walbrook, they have stated there is nothing in place, that prevents the company issuing news, just no news at the moment, the latest update i had from them with regards actually using the capacity stated

“Omega still need to receive purchase orders from the Government for the contract to have a real impact on performance.”

@Walbrooke2021: have you actually read the government disclosure in the RNS

Is the contract renewable : no
Is the contract split into lots no
Total value : min 50m max 374m

@Daprophet, hence my comment about surescreen and innova supply, Colin told us there is no manufacturing until the test is chosen, they have also stated there is no NDA in place

@Daprophet, i have always said Mologic Tech transfer will push us over 100p, i just hope we don't have to visit the 70s first

The government cant have asked us to start producing, we don't have a test yet

How very different this week could have been with another approach from the company in updating the market with some actual facts

@DaProphet. I think ( and its only my opinion) that Its unlikely that ODX will be called upon to make any tests that are needed for DHSC in H1 2021, i think its demand will come in the later part of the year.

Why i think this is there is no test selected by the government at the moment so it appears not to be in a blind panic to secure the sovereign test, if the selection is not Mologic we could be again into a 3m+ tech transfer process, in the short term the government has surescreen to fill some gaps and unfortunately innova still seem positioned to keep supply comming. If we dont get a new wave demand in the autumn then from the governments point of view £50m is peanuts to have the capacity available to call on if they need it (this is why Colin poured cold water on the RNS i think.

This is why the Mologic test is key for us, with Europe seeing another wave brewing, there should be a massive market for tests now, but we need to have a product to offer

@CaptainSwag: and i think that is the big issue we have seen this week, the difference in tone of the company on social media compared to regulated news feeds has everyone thinking what the hell is going on?

@DaProphet: The issue at the moment is that the uk government has spent the first two months of the year stockpiling 15m innova tests per day, its going to take a long time to churn those, if there any urgency from them at them moment, yes we have a manufacturing contract from DHSC, but without the test selection and supply orders that just means we are in the same position we were last year with the Uk-rtc manufacturing contract. For me the Tech Transfer should be the priority at the moment, its under our control (we think), the company must urgently issue an update on this , whether good or bad news, without that they look like they dont know whats going on themselves.

I bet Colin's been on the phone to GAD, "now it could be considerably less !"