Added28 Apr 2021 09:31
Bought a bit more today, not advice as this becomes a little more risky now with delays and payments not being received, in the short term
Omega seem more than positive about the ABC19 test, we have seven tier 1 deals in the pipeline and it would likely only take one or two to set the SP alight, I have always had faith in this team and CY owns more than enough shares so you know he will be feeling this drop and be determined to correct it in short term
Honestly, I expected the SP to open around 65-70p, I was shocked when I saw a sell go through at 45p
If the price opened at 65-70 I probably would have bought, funny how your perception changes about a business just because of the SP, so I've bought a bit at 54p (have a bit more spare should it go sub 50p)
The pipeline has not changed, and ultimately that is what the investment case was about, we haven't lost a contract like Novacyt did and we dont have a contract with the UK GOVT (as of yet) so the real concern is cash position + delayed payments, if we get the payments in the short term the cash position remains strong
Avacta may have a test to sell near the end of May, that will be a welcome boost for us here, even if we just produced 1m a month at £2.50 per test at 50% margin, it would do wonders for our bottom line, I suspect initially we will produce much more than 1m per month, more likely 2-4m per month - at this market cap we would likely only need 2m a month from Avacta to get that revenue soaring and share price going
As before if any of the ABC test contracts land/approvals, we are loaded as the stock is ready to go
Be interesting to see who the other TT is with (antigen) and the non-covid related assay
I thought we had more, with the RNS in Feb saying we have signed with a UK manufacturer I thought we had three covid antigen TT's but clearly wrong?
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