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‘This inventory build was Novacyt's direct response to support the UK Government's call for UK manufacturers to build manufacturing capacity and supply chain flexibility in response to the COVID-19 pandemic and was based on likely demand indicated by DHSC. The Company will continue to look for ways to use this inventory.’
From this it just sounds like they built up the inventory on an informal request. Surely not, they must had a formal request or a clause in the phase one contract to build up this level of inventory for a specific customer knowing if it doesnt transpire they are stuck with it and probably wont ever shift it!
Kaeren makes a valid point. Why raise this issue and not mention it at the time. It was material.
The fact we had built up £29m worth of Inventory gives me hope that our contractual position is strong to enforce payment. I mean, you can be the most naivest CEO in the world. You just dont spend that amount on stocking up for something which is not practically certain. As an accountant i have never seen anything like it!
It all depends on the institution. Many i know dont go anywhere near these sort of investments with pending material outcomes. Once the dispute is resolved and a future strategy is outlined many will jump in if the price stays this low.
Will probably gobble this up if it stays sub £3 for much longer! Company seems in disarray according to the market but in reality we will have c.£100m in cash (worst case) at year end. No debt and a huge product portfolio to diversify into non-covid markets.
This is a buy all day down here! Was invested last year and it did me well. Been away for a while but now back into searching for some real bargains and surprisingly this has propped up on my radar. Building a strong position here i suspect we will not be this cheap much longer!
CEO knows more than you all combined so now tell me if the vaccine was going to destroy the covid business why would he buy at 53p?? Bloody idio**
Whos deluded now eh. 30% drop lol l. Close that short before its too late!
Too many idio** gambled on a drop into the 30’. Now watch them buy back higher. That should help us break the elusive 50p!!
Still time to close that short. Bigger losses for you if not, this is going one way now. The tender is out!!
Nm
Avct move randomly every second day but we go down and down!!
4.7 hit
Been looking into this again since on the back of a very good run with Novacyt. In my view the vaccine programme next year will run hand in hand with antibody testing and so ODX are in prime position to benefit from this. Antibody testing will take off just like antigen did with Nova. Price is currently suppressed due to the sells but it is a perfect opportunity to load up.
Going back to 6p in the next few sessions. Glad i had the courage to load up under 3p.
We cant time them all right. Have patience here something is afoot behind the scenes.
I loaded £10k at 2.5p this is heading back to 4p v. Soon
Second that