RE: Myles Tweet30 Sep 2021 15:07
Here is the series of tweets:
"First up: despite quite clearly being silenced by Royal Marsden, #AVCT was giving every indication today that AVA6000 ('chemotherapy without the side effects') IS working - so far...!
First patient has been dosed three times, and now several more sites are coming online in the UK; and mgmt is aiming for an IND filing in Q4 (for a P1 trial in the US), which #AVCT is 'confident' will be granted.
Absolutely no shortage of willing patients (needless to say).
If the data are anything like the mouse models (18x more of the AVA6K chemotherapy present in the tumor tissue than in the heart), then I feel that it's going to be very difficult for @avacta #AVCT to keep a lid on it.
Just imagine what mainstream news headlines could read.
AffiDX #COVID19 LFT at last getting there. Specificity up to 99.6%; sensitivity still at 100% (at <27).
@mologic manufacturing 1 million per month; @abingdon
#ABDX to start (from next week, it sounds) manufacturing 1-2 million per month. Both can scale up further.
Much larger manufacturers at standby in Mainland Europe and Asia, if/when demand for #AVCT's LFT gets there.
Demand? This will primarily be driven by at-home use.
@AvactaDx's partner, @medusa19_(founded by @boohoo
co-founders) waiting on Home Use Approval to be granted.
Interims/presso didn't touch on @medusa19's own manufacturing capacity. My belief is that, as it has essentially licensed #AVCT's LFT, it will be up to Medusa to disclose its proprietary capacity (if indeed it does have any for AffiDX). @avacta will just a receive royalty on @medusa19 manufactured LFTs sold.
Whatever the case, owing to its competitive advantages (see p.21 below), #AVCT believes it can maintain its previously mentioned gross margin of €1 to €2 per test.
At £1 GP per test sold, @avacta would... require only 2 million sold per month to achieve a cash flow positive position. [H1 financials showed cash burn of £11.0m].
So as of next week (or whenever #ABDX's growing stock can be sold), assuming #AVCT can sell all that @mologic
and @Abingdon_Health can make for it... at that £1 gross profit per test mark, then #AVCT becomes cash flow positive. And in the next several months, it could publish results that could ignite the oncology market.
Current market cap: £285m.
I guess only existing shareholders so far have heard today's 'news'..!
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