Member Info for KilkennyTed

Davand, do you remember from the Yourgene days what sort of % shareholding was in the hands of Institutions?

At the moment Novacyt is literally all PI's

This is the biggest fear.

Not the result we wanted today. Just seems like this agreement could have been reached a couple of years ago. Obviously neither side had a cast iron case to win outright. Posters commenting that the products must have been at fault otherwise why settle. If it was as simple as that & there was evidence to back it up the government would not have walked away from £135m to settle with just £5m in costs.

Agree HarChris. Yourgene is the revenue generating part of the business now. Fresh start for LR & co. close to £40m in the bank to make Yourgene a success finally. Can he do it?

Maybe Amers adjourned to the pub

Do we know which side called for the adjournment?

I bow to your greater knowledge in this area Kaeran.

From the judgement 30th April. The judge gave both sides deadlines for the expert reports to be filed so the trial date wasn't delayed.

"Accordingly, I refuse the application for summary judgment; I allow the defendants' application in relation to Dr. Owens' report, to be served by 3rd May; and I provide for Dr. Huggett to serve a further report in response by 17th May."

So can we assume this is what the hearing is for? They've had the pre trial hearing to ensure both sides are ready for trial. Is this hearing just to confirm that now they have all the relevant information lodged?

I wish the shares had been suspended 3 years ago. At least then I could think I was still richer than I am now.

Https://www.investing.com/news/stock-market-news/earnings-call-novacyt-reports-mixed-financial-results-amid-strategic-shifts-93CH-3465587

Wilson it's what they call a "soft launch". If you like to believe that sort of thing. Similar to the Co-Prep liquid handling instrument. Neither seem to have made a splash.

In addition to the £16,670,000 cash consideration for Yourgene Health, there were a number

of other acquisition related fees that were incurred as a result of the transaction resulting in

the deal generating a cash outflow of £27,626,000, which breaks down as follows:

Cash consideration: -£16,670,000

Settlement of Life Sciences contingent liability: -£6,500,000

Repayment of SVB Bank loan in GBP: -£2,362,000

Deal advisory costs incurred by Yourgene Health: -£1,959,000

Deal advisory costs incurred by Novacyt: -£1,424,000

Cash acquired: (cash Inflow) £1,289,000

Total cash outflow £27,626,000

Fair post Ravenox.

If you weren't already invested you wouldn't be tempted by the information released today.

"Why exactly did YG cost 10m more than was reported as the purchase price?"

Read the reports, it's all in there.

As the man said. "They just need to sell more"

The group of companies already have stacks of products. Time to stop spending.

And don't forget that Randox had to recall 750,000 of their tests because of fears they would be a danger to the public. This was in July 2020. Didn't stop them getting more repeat business from this corrupt government.

Exmex. You would think the DHSC would have done stringent testing on any products they were spending £100M+ plus on before rolling them out to be used by the public.

Even just follow their own advice from April 2020.

"Accuracy and reliability of tests: as with everything we are doing to tackle

coronavirus, we need to be led by the science. An unreliable test is worse than no

test. We need to ensure that all the tests we use are validated, reliable and

provide an accurate result. We also need to understand the quality of new tests

such as the antibody test before we start using them in order to avoid putting

people at risk by suggesting they are no longer susceptible to coronavirus. We are

working with a number of companies to evaluate tests and this validation is

ongoing - but the science is new and uncertain. This shows the importance of

having a rigorous process in place and checking every step for accuracy and

reliability."

https://assets.publishing.service.gov.uk/media/5e888f05e90e0707799498b3/coronavirus-covid-19-testing-strategy.pdf

Are you saying that the exsig direct product wouldn't detect the covid strains in the autumn of 2020? The company also supplied Winter Plex as part of the contract. Is it the same for that?

"COVID evolved to hide from exsig"

Not sure I agree with that statement Gizmo.

The company still sell it as part of their Covid test portfolio.

It was approved in July 2022 under the UK Health Security Agency's Medical Devices (Coronavirus Test Device Approvals). A full 2 years and more after the dispute was announced. Must have passed some robust sampling to have passed that.

WHO & FDA both included it on their lists of approved products.

Assume it's just the official record of the judges decision (Mrs Justice Jefford) dismissing the application by the Department of Health and Social Care ("DHSC") for summary judgment.

It's the 8th Order approved so far.