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MCAP £97m - gov contract £374m for 50% of the capacity. Go figure it out

Computer - as Colin King explained, reaching 2m tests per week was dependant on the DHSC getting out of bed.

By all accounts the plug was pulled when all looked ready to move forward as the focus shifted to self test approvals rather than professional tests.

Omega have repurposed resource to cassetting and pouching and delayed resource through agency arrangements as explained by Colin. They have been through extensive reconfiguration and capex investment. They are ready. They have the resources to deliver significant volumes of tests as explained by Colin in a recent update.

TWatcher - why are you still going on about a comment made by a couple of posters 2 weeks ago that clearly have only basic knowledge of ODX?

Per the Finncap broker note they value the core business at around the current MCAP based on the correct future expected volumes and prices with nothing priced in for Covid tests. Anyone unclear can access the broker note themselves and learn from official sources.

Although its a very good prosperous business for the short to mid term, its the more immediate covid opportunities that will bring in 100s of millions of $ that most people are more immediately interested in, and talking about some misheard numbers in a presentation like a dog with a bone isn't going to distract anyone that knows their research from the growth coming Omega's way.

The CEO has secured an anitgen test manufacturing contract that every UK diagnostics company wanted and the only other one that got one has been acquired by Gates and Bezos! The CEO has secured a product portfolio that includes one of the best antigen tests in the world and arguably the best antibody test in the world.

Regulation and governments are the roadblock not the company.

IT is clear as can be they are awaiting self test approval before sales flood in for the visitect test.

People can moan about lack of sales until they are blue in the face, and as much as it's disappointing it doesn't change the fact that as soon as the approvals are in place for EU self test, FDA in US and the government chosen test, the flood gates will open for sales and they will catch up on stock piled production. These are the bottlenecks, not the operations of the company which have gone to plan with scaling up capacity and hiring and training of staff.

Big 6 months coming, with profits to vastly exceed the current mcap. Which means big returns for investors.

Any criticism of Omega is addressed in this Q&A honestly and fairly.

The future outlook that this maps out is very exciting with substantial upside to be delivered.

If you can't get past the disappointment of delays and see the added value coming here in the next 6 months, investing is not you game.

Only have to see how hard all the idiots are working to spread doubt to confirm where this is heading.

Omega showing:

ABC-19 is the real deal. Performance and use cases peer reviewed like no other. Millions stock piled and capacity to make millions more. Material orders are imminent IMO

Gov contract of £374m still in play and moving forward. Through all innova news Mologic news those doubting it, omega are ready and waiting for the gov selected test. Now a matter of days IMO

Use case and demand for testing is there and will be there and switch to UK manufactured tests is high priority still

Other things coming:

FDA approval of Mologic test

EU self test approval for visitect test

CD4 also has a big role to play and orders will start to increase steadily through this new financial year

It’s been a very frustrating time for shareholders but clear as day that all the ground work is about to move into material sales. Share price is a gift and time to start heading back up challenging all time high and higher.

Top drawer.

Gem of a company. Let down by DHSC and Gov.

Misunderstood by the market

Building a solid business with a prosperous future

Cash flow good until at least July 2022

Serious market opportunities all coming together

Really interesting business with CD4 and Food health

The low risk multi product profile with DHSC contract secured for any test is a sound piece of business enabling Omega to be at the front of the queue to capitalise from LFT once the red tape clears

That was a really relatable, honest but bullish presentation

Of course it can the whole presentation is price sensitive, hence the announcement of such presentation by RNS. Anything delivered in that presentation will be considered delivered to the market stakeholders at the same time. They will add colour and detail.

Ha just like you were calling NCYT higher at 700p! Blocked me for saying it had further to fall!

Fact is all covid investors have been let down by the speed that this country has moved forward and the reliance they have placed on bridging the gap with inferior imports. Yet ODX remains the same if not a stronger offering. And i still do predict £400m mcap. CLearly it isnt going to get their until the barriers to entry are surpassed and the high volume sales come in. But once that happens nothing has changed and it is still a high growth prospect and will be a cash cow printing money.

Tell me - how many UK manufactured tests have been sold? How many have been approved?

Only surescreen appear to have crossed the threshold.

Red tape is holding up the whole of the UKLFT industry. Omega however, are at the front of the queue with the best Antibody test and one of the best Antigen tests, and also have a government contract for any test that is required. Regulation is creating serious barriers to entry.... yet ODX and about to breach those, in the UK/EU& and US.

Capacity is still where the limiting factor is in providing british made tests at scale. They have a significant contract.

As they say self test approvals will differentiate them

They do have contingency plans hence the diverse portfolio and multi markets with EU/US and low risk on product development

Approvals are late because regulators and governments are holding it back

How can you say they need to raise again. Shows how clueless you are. They literally tell us 8in the results RNS that even on a worse case scenario they have sufficient funds to operate until July 2022!!!!

iphoneitrade - if you did make money on an ODX trade you lost probably more than you made on NCYT!

PS there have never been any warrants in ODX. ODX have delivered more tests that AVCT and GDR!

Say what you like about delays, the price has already massively over reacted to it, meanwhile Omega have built a business model that will thrive for the coming years.

Oh, and a clear indication that the £374m gov contract just needs a final push over the line. A contract worth 5x more than todays market cap. Ridiculous market reaction to value ODX at less than its core business with capacity to delver £40m worth of LFT tests every month.

Naysayers enjoy it whilst it lasts fightback starts at 4.30pm today and a big bull run will follow IMHO PS thanks for the 41p top up today

The Innova tests are coming into the country already made and sealed.

There's a reason Aptamer, Avacta, Vatic and others went to Mologic. I suspect they will uphold the same standards for partner tests as they will their own. The effectiveness of a test goes beyond clinical/analytical sensitivity, and must be validated and peer reviewed.

BigJock - I think the time being taken is beyond a joke, but i suspect their are reasons behind it. There are still political issues, requirements to ensure supply chain is robust. The last thing they can do is turn on the UK tests and run out. Validation of the test needs to stand up to the harshest scrutiny and it will. As painful as this is , being involved is much better than not being involved. The loan of equipment adding capacity that otherwise we would not have had without further dilution. Omega are also in the chair for the future of the UKs diagnostic needs. Painful to keep waiting but reards will be worth it.

Clear to me that home test approval will be the catalyst for not only UK Gov Orders but private sales to as it makes the test more valuable and easier to commercialise. There will be a very small professional market once self tests are available in the masses.

No other test has been put through it's paces like Mologic's and the data is real world data validated at the highest level

Medusa are to diagnostics what Logan Paul is to boxing

When i first invested here it was on the back of the UK RTC and the ABC-19 agreement. The hope was to supply some antibody test to the government which might prove immunity and open our lives back up.

14 months on, Omega has come a very long way and covid is with us for the foreseeable.

When the UK RTC was signed, Omega had circa 100k a week lateral flow capacity. Manufacture of said tests to the government was a very exciting play. Finances were stable but not to the point where they could scale up capacity to be a major player in the UK LFT manufacturing space.

The funds that were raised enabling the planned expansion would move Omega into a new league.

The Mologic agreement giving Omega access to high quality tests to commercialise under their own brand puts Omega another league higher.

Then the UK Government £374m contract with provision of loaned equipment getting to 2m tests per week puts Omega in the top league.

This is an incredible journey that has positioned Omega to greatly capitalise on the Covid opportunity. The product portfolio is as good as anything out there with the best Antibody test and what is looking like being one of the market leading Antigen tests.

The drawbacks have largely been government and regulatory driven. Approvals and willingness to roll out these tests against political agendas and some so called experts scientific view against, has lead to great disappointment for investors.

But here we are with the capacity and with the tests ready to deliver. The LFT market is still very much in its infancy. With what Omega have achieved they can regain investor goodwill very quickly, with significant developments on products such as home use approvals and significant orders. Sales can be caught up for minor delays as long as production is onboard, and we are told that they are producing.

The profit potential is vastly greater than the current mcap on LFT sales alone, and other markets in ODX portfolio also expected to gather momentum.

The sp does not reflect the developments and future profit potential. I have said many times that the disappointing share price should be seen as a buying opportunity for savy investors. As much as i am disappointed with the share price growth, it has enabled me to keep adding and building my position at a price and to a level i would not have achieved had the sp met my expectations along the way.

Every day as an investor you see quotes and comments banded around about what it takes to be a successful investor. For the most successful investors stake building is possibly the most important and effective method of making sizeable returns. Identify a stock that is undervalued and has high growth potential and keep adding to that stock when sentiment is low and when the story starts to unfold and the risk profile continues to reduce. This is a prime candidate and an easy winner short, medium and long term from where we are today

Sorry - where are the silly promises CK has made? He must be the most prudent CEO on AIM.

BigBangs - Yes thats part of the problem, people go in big expecting short term returns and when it doesn't happen blame the co, sell or whatever. But when you look at it, ODX are not behind the rest of the UK industry, they are leading it. It's other factors that are holding them back. Then you just have to decide how long the covid wave of sales will last, and by the time it fizzes out where will they be with other products to fill the capacity void. It looks very promising for longevity, and CK has always stated they want capacity for long term, not a short spike just for covid.

Not posted to much here lately, too much garbage to filter through, don't have the time.

I have added quite a lot of stock in the last couple of months and continue to be happy to do so.

If people can't wait for this to start penetrating those lucrative markets, others will take the stock cheap. The diagnostics industry will only grow for years to come, and Covid will just be the catalyst.

CK has been clear that ABC-19 demand is expected later in the year. The near term opportunities are with the visitect test and the government contract.

Production is the key. If they have delays in sales, they will sell everything they make and it will come to the same top line whether it is sold today or in 2 months time. Product volume is key where demand outways supply. ABC-19, visitect sars antigen and CD4. The more they stock pile the more they can adjust production to where demand is and keep other product lines going.

Remember business is not governed by the financial year end, and £30m sales booked in May is the same impact on the business as £10m in each of March/April/May. The key is having product to supply to the demand.

I mean before the Covid opportunity came along obviously

William Rhodes - sold 300,000 (14%)
Then another 750000 (35%)
Total 49%

Jeremy Millard - 166,666 (16%)

Jag Grewal - sold 210,000 (13%)

Kieron Harbinson - sold 1,115,000 (46%)

Colin 0%

Personally couldn’t care what Bill Rhodes does he has other projects living over in the states. Kieron rumour is had a personal reason for needing the money. They all still have plenty of interest with remaining options. And more importantly CK not letting anything go at this price.

So no this is not at all a reflection on their confidence in the company and it’s a stupid reason to sell. Tell me a PI that wouldn’t take some gains after 500%+ gain even if he thought it would continue to rise. Different people have different risk profiles, different tax situations, different personal circumstances. Before Covid came along they wouldn’t have expected to be able to sell for 50p this soon let alone 90. They might be directors but they are just like anyone else, you can’t spend paper gains and sometimes you just have to take some off the table and enjoy it, especially when it’s up by more than you would have dreamed.

The new director options being rushed through at 89p before the UK gov contract is a better indicator