Money is pouring into ABDX6 Dec 2021 12:54
30mil mcap, fully funded, orders piling in on top of the already massively increasing revenues.
From the November RNS:
Overdue invoices from DHSC totalling £7.7m (including VAT) as at 30 June 2021. Group has held positive recent discussions with DHSC regarding collection of the amount due.
Completion of the technical transfer of the BioSure COVID-19 IgG antibody self-test
Transfer of the Bioporto A/S lateral flow product for its gRAD platform
Currently in the process of transferring two COVID-19 Antigen tests into routine manufacture - Avacta plc's AffiDx® SARS-CoV-2 lateral flow test, and Vatic Health's KnowNow™ saliva COVID-19 antigen test.
"As announced on 12 August 2021 we are in the process of transferring two COVID-19 Antigen tests into routine manufacture. On 30 September 2021 Avacta PLC ("Avacta") as part of their full year results presentation noted that their AffiDx® SARS-CoV-2 lateral flow test was in the process of transfer to Abingdon to allow commercial product to be manufactured and released. In October 2021 Vatic Health Limited ("Vatic") announced the strategic partnership with Abingdon for the development and manufacture of the Vatic KnowNow™ saliva COVID-19 antigen test.
We have received significant purchase orders for manufacturing batches from Vatic and Avacta, in advance of completion of technical transfer of their products, and we are putting in place the required component stock to allow us to seamlessly move into manufacturing in due course. The transfer of these antigen tests is timely given the move towards private-sector testing in the UK, the transition to cost-effective lateral flow testing from PCR testing for travel as well as the increased focus on antigen testing starting to emerge in the United States."
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