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Nice base forming here with significantly improved volume. A good break above 2.5p or so might see Fox on track towards resistance at 7p.
Now there's a target..........
Abingdon’s share price has been strong last week suggesting the market is alert to the this company’s potential with its LFT production facilities.
It is worth remembering that Abingdon specifically noted Avacta as a customer in its December listing document- nearly 3 months after Smith announced the link up with them for volume production of Avacta’s LFT.
The obvious point I make is that neither party has said there are any problems with this relationship so we must assume things are on course. I think this is most likely to be THE WEEK!!
Agree this is highly significant. FDA approval is a gold standard and unless someone at Avacta is telling very big porkies, I think we can be comfortable that the LFT will emerge fairly shortly.
It was announced this morning that Abingdon HAS filed for an IPO, exactly for when I do not know.
Surely this is very significant so far as Avacta is concerned. Given the importance of Abingdon to the production of Avacta's LFT, it is inconceivable that it could IPO if there was any doubt about it going ahead as it would have a massive impact on Abingdon's sales and profit expectations.
Given this news, it is entirely foreseeable that Avacta will RNS either before or simultaneously with the IPO.
I have emailed Smith and his CFO together with finnCap, the market maker, saying that they need to get out an urgent RNS update regarding developments that have been made with the company’s COVID products. I made the point that if this was not done there was likely to be much unwarranted and unnecessary speculation about the company that could damage its future.
Just heard Bono’s broadcast - we should see a strong recovery tomorrow as he emphasised the importance of mass testing.
Am I alone in wondering why Avacta appears to have so little national press coverage when in appears to be on the verge of producing what may be the world's best LFT? Is this based on wide-spread scepticism that it will never happen or what?
Or is it a function of pretty poor PR by Avacta itself?
I simply don't understand why there is not a lot more interest in the company, or have I missed it?
V good volume today and a nice rise against the background of poor market generally. Nearly at all-time high - something afoot?
Yesterday’s presentation was outstanding and outlined the tremendous potential of this company. Any CEO of a major pharma such as AZN with an ounce of brain should be able to see that for less than £1Bn they could have the deal of the century.
There is no way the company could fight off such an approach- there are no major blocking shareholders. Do a deal with Smith and his team - game over!
Needless to say, I added significantly to my holding yesterday.