Member Info for marik

@wadogara, there were suppliers, but not enough quality suppliers. The requirement is still there and the market is very big. Many of the low performing tests are now being removed from the market and the ones that survive will certainly do well from the pandemic. Including ODX. As we found out with the Innova fiasco which was literally "binned" by the FDA. With any given mutation, the needs ebb and flow as is the the nature of viruses and the pandemic. Another Variant of Concern and we will be back to severe issues and the rate at which it is mutating, the next one won't be far off. That's why the UK Gov is offering ODX to keep the equipment for future preparedness and also asking people to vaccinate.

Just to add, one has to look beyond our own borders to understand that the pandemic is far from over. New Variants of Concern / Omicron sub-variants could be more virulent and cause even greater issues. You will note many people don't want to be vaccinated incl. some people on this board, which implies that there always remains a strong pool in which the virus can mutate. Also note: Spain is reporting >500 deaths a day and the US has >2500 deaths per day, with huge numbers in hospitals. There is a need for diagnostics as vaccinations alone will not resolve the problem.

One has to look beyond our own borders to understand that the pandemic is far from over. New Variants of Concern / Omicron sub-variants could be more virulent and have even greater issues. You will note many people don't want to be vaccinated incl. some people on this board, which implies that there always remains a strong pool in which the virus can mutate. Also note: Spain is reporting >500 deaths a day and the US has >2500 deaths per day, with huge numbers in hospitals. There is a need for diagnostics as vaccinations alone will not resolve the problem.

@pkwendall, the recent RNS with CE self-test approval means ODX can sell to a 440 million citizen market (+ other countries that recognise CE standards). If you remember ODX stated that once the self-test was approved, then Lansdown was already lining up partners.

"they a) Agreed that immediate = medium/long term"

I agree @TWatcher. I think the discerning readers have glanced on the nuggets posted on 17 Dec which stated imminent placing e.g. "...graveyard slot tonight. 18.00-18.30pm". It could explain why so many people liked the post.

Anyway, let me just reiterate the finnCap comments:

Excluding the covid-19 business:

- Food Intolerance business at c. £50-70m
- VISITECT CD4 (HIV testing) at c. £55-85m

A combined valuation range of £105m - £155m.

So as they said, although they can't give a target price for the entire company due to DHSC clearance, they do put a target on the rest of the company (Food Intolerance business + VISTECT CD4 business) at >£105m i.e. 58p/ share.

Fast forward to 2022 and we realise that the £105m - £155m valuation for ODX is also an undervaluation because it does not include the fact that ODX have received CE-mark approval for the covid-19 self-use antigen test that opens a c. 440 million citizen target market.

That means that combined with the antigen testing, ODX would be valued well above the range of £105-£155m i.e. north the range would be above 58p-84p per share.

@Novicehunter, Gameone was addressing that to the "Twatcher/Captain tag team". Perhaps you have responded from your wrong account?

Not sure @Gameone. I'm still waiting on the apparent immediate placing that was happening on the 17th of Dec 2021. Unless you have a time machine, it's not short term or imminent.

Furthermore, without the covid-19 diagnostics business, ODX still have valuation (finnCap) of £105m-£155m. The current mcap is less than £20m. It will re-rate upwards sooner or later, once the penny drops that the mythical fundraise is not happening.

Partnerships are being organised (by Lansdown) for increased sales and revenue and 2 million per week capacity. The rest you can read above.

GL

What happened to the graveyard slot on the 17 Dec 2021 and the following Monday? 2 months later, rumour reports and still nothing.

Do you know where this immediate placing RNS is? It's been happening since the 17th of Dec and still nothing?

How much?!

Interesting that Omega Diagnostics has a lot to offer investors, but the true value of a business is understanding the business in parts and as a whole.

finnCap analysts exclude valuation of the lateral flow business from their target price, but put a sum-of-parts valuation for the rest of the business at £105m – £155m. That's >58p per share.
https://twitter.com/marik_investor/status/1490686133046554626

Current announcements include CE-mark for self-use that opens the #ODX market to 440million EU citizens.
https://twitter.com/marik_investor/status/1490849017084796929

ODX have applied for FDA professional-use test for their VISITECT® COVID-19 Antigen test via partner Mologic.
They are also weighing up FDA self-test application.
https://twitter.com/marik_investor/status/1488898497470423040

Letter from the DHSC indicates Omega are able to use the equipment to allow the business to grow and provides strategic capacity for *future pandemic preparedness*.

https://twitter.com/marik_investor/status/1490786943407472643

ODX confirmed that they are still in conversation with the DHSC

From recent ODX presentations, Lansdown Strategic Capital (LSC) were engaged to expand commercial lead. ODX partnered w DAM Health (focusing on Spain, Mexico and many other countries) and LSC have new partners lined up!

Although some speculation exists on #ODX Gov contract, the contract states nothing is owed to the Government if contract expires. See in depth view:
https://twitter.com/marik_investor/status/1488955162500780036

With 2million production capacity per week, £3-£7 per test, the revenue potential is between £300m - £700m p.a.
https://twitter.com/marik_investor/status/1490676203333816325

ODX is not just a covid business the diagnostics arm includes HIV detection and allergy sector (markets in $billions)...
https://twitter.com/marik_investor/status/1490662806097694720
https://twitter.com/marik_investor/status/1490091058428104709

Recent RNS, #ODX state:
“…there is no immediate need to raise additional capital…”

i.e. “…no immediate need to raise…” = medium/long term

Many have missed the above points as #ODX have a good runway.
https://twitter.com/marik_investor/status/1488049742710194182

ODX have a revenue stream with new sales coming online in the near future. There is no immediate need for a fund raise and current market cap (<£20m 11p/share) is well under true value. This looks like an opportunity missed that could well hit many multiples this year.

Any way, I would doubt if placing is happening anytime soon. Lansdown Strategic Capital (LSC) were engaged to expand commercial lead. They partnered ODX with DAM Health which focused on Spain, Mexico and many other countries and LSC has other partners in waiting once self-test approved. Guess what? self-test is now approved! ODX are ready to move up.

Anyone else know?

@jgadiali no need to apologise. But you didn't answer the question. Could you send me the messages between the 2 HNWI and whoever was the go between and further information on the RNS on the 17th Dec/20th Dec that I can't find?

Thank you in advance.

@jgadiali could you send me the messages between the 2 HNWI and whoever was the go between and further information on the RNS on the 17th Dec/20th Dec that I can't find?.

I'm looking for the ODX RNS "graveyard slot" Friday 17th Dec 2021 or the one 7am on Monday 20th Dec 2021.

First was there one? And if so, can anyone point me to it as I can't find it?

@CaptainSwag, you mean Monday 20th Dec?

What happened to the contacts who said that there would be a placing on 17th Dec/ 20th Dec? I didn't get the memo as I've only just started looking at ODX, so if you anyone could update me with that? @TWatcher @CaptainSwag

Thanks

Does anyone remember the date of the 2 HNWI's being discussed on twitter?