Looking to make an application with the FDA. Need to work on manufacturing capacity before the opportunity can be exploited, though. It's a relatively straightforward pathway once already CE marked in Europe.
Avacta are legal manufacturer of the LFA and will hold the CE mark.
Cytiva are a materials company. They only supply the strip, similar to how Avacta supply the Affimers. They're not a manufacturer.
With BBI and Abbingdon, probably capacity of 5 to 10 millions per month as it stands today. But this can be increased to many tens of millions per month and other partners can be brought on board. Total capacity including oversees unknown, but Sir Al believes there's potential to meet the hundreds of millions per month - however a lot of due dilligence must be done with these oversees companies first.
RE: A little bit of transparency at least...28 Sep 2020 10:13
Merchantwnker, go back to the ODX board.
7th Sep RNS: "Avacta remains focused on the much larger opportunity of the saliva-based coronavirus antigen rapid test that we are developing with Cytiva and which is now in the process of technology transfer to our manufacturing partners. "
Today's RNS simply re-confirms everything which we already knew. Nothing has changed and nothing bad has happened - infact, everything is great - especially with the updated broker target. Clearly massive upside here within a matter of weeks.
Not nailed on, but as close to nailed on as one could reasonably expect.
Sir Al gives a good presentation. I'm really looking forward to it even though I don't think we'll learn anything new. We might however have some 'read between the lines' teasers or some excitement/body language indications.
I'm very interested to see what questions are chosen for the Q&A. We know the market is totally focussed on the LFA. They'll have to play this carefully for obvious reasons.
This could move either direction tomorrow and I wouldn't be surprised. If I had to make a guess, I would expect short term traders moving out causing the usual drop - followed by a steady rise back above the opening price as stronger medium term money continues to move in.
Bojo has told us which direction we're heading in with regards testing and Avacta appear to be the only company who can deliver it - BUT it's not going to happen immediately so expect the rainbow chasers to sell out and return later (if they can even manage to get their hands on any shares when this inevitably blows up!)
I suspect there will be a drop and a churn of shares first thing. Difficult one to call, but with what we know - the short term share price movements are not of much importance (even though we all hate a red day).
If the Government are going to spend billions on rapid tests and distribute them to households - to get the full benefit it must be in some way linked to an app which can record data and prevent cheating. With a lab test, this isn't such an obstacle. Recording results of a test which is carried out in the general publics own homes has obvious pitfalls. This can however be overcome with things such as QR codes, facial recognition and video.
Tomorrow will be short term traders selling and serious investers buying. Which side will be stronger, we do not know.
What we do know is the Gov's only option is rapid testing. We also know Avacta are the only LFA being evaluated on CONDOR. Finally, we know there's two major manufactures preparing to produce our test on mass.
In addition, to our collective knowledge, there isn't a saliva LFA which is more advanced than ours.
Listening to Boris' speech tonight, it's a pretty straight line to Avacta!
Not sure that's a fair comment re placing monies. The LFA will improve Avactas balance sheet significantly and prove the Affimer Platform.
“As we set out in the use of proceeds at the recent fund raising, we have now expanded our product development team with the appointment of an experienced in-vitro diagnostic Product Development Manager and we are expanding the protein production facilities in order to meet the expected demand for Affimer proteins the coronavirus tests and future diagnostic tests in the pipeline."
In terms of delay... All we know for sure is... 1: Avacta haven't failed because if this were the case market would have been informed. 2: It's currently out of Avactas hands and we are waiting on third parties.
Without a way of instantly determining who has Covid and who just has a normal winter bug - we are all up the creek without a paddle and there's no hope of normality until the spring. I still don't think a lot of poeple have realised this because coughs, colds and flu haven't arrived yet...
Any lab based test is unable to meet this need. It's a LFA or nothing as far as I can see. We don't know of any company beyond Avacta who are better placed to deliver one (and in the required quanitities). And of course... Avacta are the only LFA on CONDOR...
As others have pointed out, previous RNS can be taken as accurate until a later RNS says otherwise. No news is good news. If it had gone horribly wrong, we would've been informed.