UK order14 Jun 2021 02:21
I think it's wrong to be annoyed with Jon Deek's. He makes a valid point on newsnight - lack of validation in true clinical setting will result in poor tests that defeat the purpose. Until they are proved, it's wrong to throw money at tests. Lucky for Avacta, that the test they had carried out was in Spain in a hospital setting.
Secondly, I prefer European sales over UK, as I think the Avacta market risk is spread across multiple countries.
Jon Deek's doesn't make negative comments about LFTs as a whole as was made clear on newsnight and his comments in journals and on twitter. It's worth re-examining the narrative, he even goes as far as pointing out Mologic as being the right way to conduct trials. The very same Mologic who we've used to CE mark.
If Innova are dropped as the key test maker in the UK, then there is more pie available for more reliable tests (i.e. more potential sales for Avacta in the UK. Therefore, news for Avacta UK sales is coupled with negative news for Innova. For those who believe that we be better off with UK sales, then they should be also keen to see more negative news on Innova. In fact, silence from Innova is also a positive for Avacta.
Unless Innova can categorically defend their position and explain the fake data submitted to the FDA, then it will be very bad news for them. Graeme Tunbridge, the director of devices for the Medicines and Healthcare Products Regulatory Agency (MHRA) is looking into the issues raised by the FDA. The very same director will be renewing their EUA license to sell in the UK. DHSC won't be making any further sales to Innova if they don't get license renewed. It's a very tricky situation for Innova.
GLA