Member Info for Dibs61

ITM bouncing very strongly (up 14%) from its recent fallback following results.

I think we might be benefitting slightly from the ITM effect today

So perhaps short positions are just closing out now. Politically, economically, fundamentally, everything is pointing toward this situation not being a five minute wonder for NCYT.

Sentiment is key in any market. Interesting that investor sentiment here is now generally quite poor and downbeat, even amongst more 'long term' (by AIM standards that is) holders. That tells me, with such positive fundamentals but very short term factors holding this back..... that now should be a very good time to buy.

All my instincts are telling me this. The company chucking off cash left right and centre. Honestly, whats not to like??

bbr391 hehe yes positively steaming ahead. Interesting that 2m trade, I couldn't get .36 to sell my small batch.

Beware the Irishman with all the blarney and patter. Filling his sentences with positive buzz words and phrases.

Got to hand it to him that guy is a smooth and convincing talker. But not convincing enough for me.

PAL now a cash shell. Interesting.

To ShaunP, Wilson63 and woodaldo for your valued comments and information.

Much appreciated.

And yes I have already taken a small position and am considering adding.

Berenberg BUY SP target ..... 470p

Have they seem the share price?

Has the company had a placing since last December? I can’t see one apart from some equity issues from warrants. The reason I ask is because I can see in the recent debt repayment RNS that the companies cash position has changed from €1.8m @ 31.12.19 to €25m @ 2.6.20.

Is that improvement in the cash position entirely due to cash flow from Covid tests sales or was there a placing?

Thanks in advance for any help

know no = long!

Elon - or even Dibs perhaps? He’s been around this stock a good few years ;)

I don’t agree with your thoughts about a placing. In fact I would take issue with you over a number of your points. Firstly I think today’s RNS does make a placing more likely but not certain.
ODX are definitely not awash with cash. You only need to look at the last results to see that. They had eaten into their agreed OD to the tune of around £600k on a £2m limit, The main source of revenue currently is Food Intolerance and sales there, if you read the RNS, are 30% down on the equivalent period last year. Revenues from infectious disease (Visitect CD4) are still fairly modest. They have stopped their allergy business which was a cash drain on the business and that will save £0.8m a year. To me, reading that RNS, the clues are there if you can see them. They will have wanted to avoid a placing for sure but, to be honest, they are a little cash strapped at present and it would be sensible to bolster the BS because the Mologic side of the Covid business will not be funded by the government. I think a cash boost through a fundraising could be quite positive if they get it right. We don’t want a big discount to the current SP. That would send out the wrong signal but if it’s a good price and open to all investors then it could be very successful and reassure the market that they can raise a good amount of money at (preferably) very little discount.

Also, worth pointing out that allergens were not ‘bread and butter’ because they don’t make any money out of it.

I agree with many of your other points. I do feel today’s RNS was poorly written and rather over complicated and repeated itself.

I get the impression that, understandably, management is consumed by the Covid side of things. I would not want Food Intolerance or Infectious Disease to be neglected though as they are critical to the companies know no term fortunes.

GLA
DYOR

This short position has not been notified to the FCA:

https://www.fca.org.uk/publication/data/short-positions-daily-update.xls

Traders all over this. Traders Paradise.

Total sales and orders this year equal to £120m against a current MC of £166m. I’m sure with more orders in the pipeline.

What’s going on? Looking for an honest appraisal why the market thinks this is only worth 1.3 x Sales? Is it because the market doesn’t think Primerdesign can deliver? Are they experiencing supply/distribution issues? Have they got the supply of raw materials they require?

Or is just general market sentiment with people getting a bit tired of Covid stocks?

Forest24 - that is a good question and I think todays RNS delivers the answer. I don't think the UK will be a viable market for their test. Already too crowded with Abbott and Roche muscling in. I think Mologics target market for their ELISA test was always intended primarily for third world countries. They made that statement quite implicitly. Todays RNS raised more questions than answers. Mologic, for example, have already stated they would sell their ELISA tests to countries like Senegal not for profit (at Cost) so what will ODX's margin be on manufacturing? The other question is how long will registration and evaluation take in these countries? I know from investing in ODX quite long term how sluggish progress can be in these African countries. So I am not pinning a great deal on any of the Mologic tests and let's be honest who else is?

No, its the UK-RTC that both we and the market is waiting for. Todays announcement was in some ways counter productive as it has muddied the waters.

It was interesting that both Food Intolerance and Infectious Disease both got almost a cursory mention at the end of the announcement. Only a few weeks ago these were the future of the business!

The other thing was that the UK RTC POC test only got a small mention. I think the market believes we are still some way from this being commercially available and that is why we are seeing the sell off - not just today but in recent times.

The RTC have already announced that the samples tested to date meet, and are in line with, the government requirements.

Incidentally the test being used in the video is a Chinese test by Wondfo which had apparently been rejected by the UK government for being well beneath the required accuracy. Perhaps they're being given another go (lol) as there is def more than one test being assessed in the REACT study.

The point being pumpky we were told unequivocally the Roche and Abbott Lab Tests are 100% accurate.

They are not. Fact.

We were misled by the media and just as importantly some eminent Scientists too.

So now the FACTS are out. The Roche and Abbott Lab Tests, both trumpeted in the media AND by some leading scientists are NOT 100% accurate as originally widely suggested.

https://fullfact.org/health/coronavirus-antibody-tests-accuracy/

Just another application.......

https://www.dentistry.co.uk/2020/03/27/petition-dental-practices-fight-covid-19/

'Uniquename' (2 post wonder) sadly NOT a 'unique' question.

Must try harder.