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Was hoping for RNS this morning about dispute settlement.
Think shorts closed Friday because they assume as results now Tues they had done a deal .
Still hoping for that but not looking likely in results tomorrow.
Maybe why Avacta are concentrating on Europe knowing the prospects of achieving anything in the UK are limited.
I assume the government will now be doing what they have done with Novacyt & other UK companies - not paying them & asking for refund on what's already been paid!!!
Utter garbage ****ging government off over this.
We needed test by the shed load and the Innova test was approved and making them in the millions required.
NO British company had a test out and even now those that have only have limited quantities.
Hindsight is a wonderful but unforgiving quality and we would all be millionaires if we only knew at the time !!!!!!
To me this is a classic case of government panic.
They have bought as many tests as they could initially in desperation as they didn’t want to be seen faltering. Then they have either not used them all or as I suspect they have bought cheaper now and want a refund on the unused ones we’ve supplied.
Typical of our government , support the Chinese and stuff the UK companies.
https://bidstats.uk/tenders/2021/W18/750256532
Interesting, wonder if this is for Surescreen.
They are based in Derby & had limited capacity!!!
So the government pay foreign based companies for a nothing but won’t pay us for goods received !!!!!!
Notice on Abingdons update rns today they are having problems with the DHSC for nonpayment of test supplied.
Seems to be a recurring problem with UK suppliers to them , I bet they’ve paid upfront for all the Chinese crap they’ve bought!!!!
On Q4 earnings you have to assume either -
1/ they are not using the products delivered and want to return them
or
2/ they think they’ve been ripped off and want a reduction in price.
Could be a combination of both!!
The problem with the rns from Novacyt is its so negative about the future.
Markets hate uncertainty and this rns shouts 100% uncertainty.
The PR at Novacyt really is **** poor , yeah it’s bad news but it could so easily have been beefed up to say more about all the products on stream and their future hopes etc. Until we get a more robust rns about going forward the price will drift .
The problem now is it could end up a self fulfilling prophesy, more people will sell which will send the price south. Hope I’m wrong and they get a decent rns out this week with some positive news.
Yeah , couldn’t get on as usual when you need too. Had no probs with HL or Barclays.
In my ISA in AJ Bell the price of Novacyt is still showing as £6.89
If only !!!!!
Depends I suppose on exactly what’s unclear about future figures, is it £200M profit as things are or £500M if we get government contracts!!!!
I suspect the current SP is where it is because the markets see this as the value without government contract. Remember they are selling tests world wide and if they don’t get a UK contract ( I think highly unlikely) then there is still plenty for Novacyt to go at.
I suspect also that currently the UK government don’t know what they will need going forward and we could end up with an open contract of no specified quantities.
Don't think businesses will buy them , they will get them free from the government.
They have warehouses full of these useless tests but currently it's the only one available in the quantities. They government will dish them out to anybody and whatever quantity just to get rid. They have to clear the shelves to get proper tests in.
It was more to do with who were getting into bed with rather than which test it was about !!!
Doesn’t make good reading ,
Said for a while that I thought the reason why Avacta haven’t got a test out is because it doesn’t meet the required standards.
This will do nothing to help , just hope their other irons in the fire are showing better results.
https://www.dailymail.co.uk/news/article-9229507/Taxpayers-foot-87m-bill-ministers-failing-company-Covid-contract-cancel-it.html
Absolutely nothing in that programme that we didn’t already know.
Think I could have made that with half the budget they had and come up with the same results.
Like all tv documentaries they start with the point they want to portray then build a programme to show exactly that.
The big problem with the TU was no breakdown of sales geographically.
We keep being told that they sell to 130 countries but the figures would suggest either very little sales to the rest of the world or the nhs contract was nowhere near anything like expected.
Hopefully Promate will be the one that propels the next sales surge.
Porky ,
Your right about Novacyt especially with the PR side, however what you have to remember that along with others , like Avacta these companies in the past 12 months have gone from small penny stock aim shares to M/caps of £100's millions.
The people that run them are scientists in the main and have little or no experience in dealing with shareholders of this size of companies. They should employ professional PR people but I assume they have been far too busy over the last year. With people like BlackRock on board I think
it will be something they correct going forward.
Can’t see it being production problems , only a few weeks back they said they had sufficient stock to meet all demand.
What’s happened to the nhs £469M contract ? obviously not been fulfilled as yet.
I think it’s probably a case of not enough orders to fill production demand !!!
Who knows?
Don’t think this is split equally , some of the companies look like corner shops.
The first one I looked at in my area went out of business last year !!!!!!
A lot doesn’t add up.