The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Extremely disappointing if this is true, but not surprising given the radio silence and recent sell, it points to having to go produce another prototype rather than NDA being the reason - along with affimers that was meant to be our USP. I just hope this means that self use certification isn't denied, but at this point I'd be just happy for them to release something to market this year/early Q1, make a bit of cash and put it towards the cancer therapies. Ok, so no £50 SP anytime soon but given recent developments I'd be delighted to see £1.80 again this year.
Maybe they'll release the swab test now for clinical approval - just to get some cash in and maybe get a contract and justify the SP, and then look at a proper self administered saliva test in the summer. TBF, Al did say the summer for the LFT, just not which year.
As mentioned, saliva works perfectly fine with certain PCR test instruments, obviously come up against issues not seen on the lab bench.
How long does clinical evaluation take? I'm hoping self test approval to be given by end of April, so for that and to allow scale up I was hoping Al was correct with his Q4 timeline with validation. If condor/falcon haven't approved the test, does that mean it can never be sold as self administered in UK?
Over 30 NHS trusts are now using the innova test for staff, testing themselves twice a week from home before going to work, acknowledging lack of accuracy compared to PCR but claiming the twice a week will make up for it, looks like theres a push to get home approval for these rapid tests.
free trade are good, although you'll need to pay £10 a month for their 'plus' account to have most of the interesting stocks, interactive investor have useless 'customer service', emails can go weeks unanswered, requires 2 or 3 chasers, setting up regular pension company payments is a ballache - don't even bother trying to do a one off. When i transferred bank account i had to set the whole thing up again, even though DD was transferred. They offered an apology and 2 free trading credits, which i never received and gave up chasing after 2 messages as wasnt worth my time
As soon as free trade offer a sipp I'm ditching ii.
£6? WTF are you on about?
Its now harder for MM to manipulate the price, I can't see us going back under £9. Given current news/rumours/unreleased info I'm expecting at least a solid £12 by xmas, possibly £14
You've been an honest poster, short, but not trying to disrupt the board like certain members, and you've done well from that position. I don't think we'll see a return to £5 any time soon, maybe never, but I'm hopeful of a return to £4 levels this year. All hinges on the US sales and tenders
Imagine if some company released a pregnancy test that you spat on which was only 90% accurate, when current tests were as near as dammit 100% albeit more expensive, they'd be laughed out the market. When you take a test you want to know for sure its bang accurate, not leave niggling doubts about the results, and then having to take a gold standard test to put your mind at rest.
I think the newspapers would have a field day if govt decided to abandon gold standard accurate PCR testing for completely new and untested affirmer tech just to save a bit of money
Surescreen diagnostics were one of the first companies to release an antibody test @ £6 back in march, yet the Govt decided not to use their test as they were less than 98% accurate, and their markets have been mainly middle east/asia where cost rules over accuracy. Out of 50m people thats a lot of false readings.
@CS - if the one in the box is still a pipe dream, its irrelevant. Covid is here, right now, and industry and Govt need tests to get things moving, they cant afford to wait until the winter on the possibility Avacta might release a test that is 'quite accurate'.
PCR is 100% - something the avacta test won't and can't match. 90% has been touted as a 'best hope', imagine if airplanes functioned properly only 90% of the time, or your BMW m5 only worked 90% of the time...
Avacta might be good for home testing, not that I can imagine much of a demand worldwide - poorer countries have bigger issues, UK doesn't care about social distancing now, the elderly/vulnerable can get a test from Govt, hospitals won't touch it unless it could match PCR for accuracy. I'm failing to see the market here
If NCYT had an RNS as good as SNG we'd be trading at £1 by now based on past good news haha.
GM has said pleasing shareholders isnt his priority - I take that to mean don't expect regular or surprise RNS releases. If the sp is still kicking around £2.50 for another month, so be it, I want the next RNS to be in sept with details of continual sales growth and a nice £40m+ order from the US. That'll kick it on to £4, and a fantastic 60% profit
Meant to add, each week here that passes is another £5-£10 million in sales AT WORST, each week that passes for avacta is potentially £10m in lost sales, and another week where govts and business get fed up with waiting and sign up a contract elsewhere, plus the window of opportunity is closing.
Avacta don't even have a test yet, let alone an approved one. The chat board over there are ramping like **** , because each day without news sends them in to a panic. If there's no Monday morning RNS to announce the test has been perfected, sensitive above expectations and is now the hands of various approval agencies the SP will crash. They think they're 1 month behind Sona, they're not.
Yup, £57m revenue created in 3 months, and this is increasing each month too!
My favourite part of the update:
"In the US, the Company has signed a major distribution agreement for its COVID-19 test with a new global strategic partner. The US is delivering significant sales growth for Novacyt and this new agreement enables the Company to accelerate penetration of its COVID-19 test in this important market. This distribution agreement will focus initially on the US, with the potential to expand into further markets."
That will be huge! "Delivering significate sales growth". Based on the above, we're now generating at least £20m revenue a month right now