Added11 Jan 2022 11:18
Sigh, I've added more - crazy or genius we will see
Have calmed down, yesterday I also held Avacta and was more annoyed at their RNS vs ours
On reflection, what can we do? We cannot talk about our customers, we must respect their privacy - TT was completed but its obvious Avacta were aware of issues, I must note they better pay for the signfiicant order pending TT as we completed our job
What I do like from re-reading the RNS - Abingdon will work with Avacta to remedy the issue, that's pretty good from a manufacturer, we are hands on and get involved, its not a case of this doesnt work here you go have it back and let us know when you have a new test to TT
The delay is frustrating, but as I said yesterday we had no Avacta last year or the year before
I do worry about the cash position if we dont make any sales in Q1, especially now with Vatic and Avacta being delayed but £6.5m should see us though and if we ever get that DHSC payment we will be looking good (currently 33% of our market cap)
So in summary:
Positives
- MCAP vs current operations should be sufficient
- Upside from AVCT and Vatic now a bonus at 20-22p market cap (~25m)
- Upside from future TT's
- 80m PA capacity worth about £15m give or take
Could still be obvious downside if sales stall, but we will see maybe we are making some good revenue from the stock and PCRD devices
I think we would have went sub 20p today if things were bad, might actually be a rock solid bottom here now in the low 20's - will add more if we go near 20p but at the current market cap down from £100m MCAP at one stage, even at the end of a bubble its unlikely stocks retreat more than 70-8)% especially when they have existing revenues
As Keegan once said, I would love it if we onboarded another antigen test or market leading test
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