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Gazza i know we will manufacture whatever test. It's not a problem the contract is in the bag for Omega.

Most likely it will be Mologic but i do accept that it could be another test. But there are literally several other tests out there. Every time the mention of a test related to UK gov comes up, avacta lot jump all over when there is zero evidence linking it to them. IF they had a valid test i wouldn't care, but the evidence , and that is all i am interested in, is that it is not happening. Dont you think if it was avacta test hey would give the contract to BBI or Abingdon?

lol you basing your investment decisions on a linked in profile that has been removed?!!

Im not bashing it - i'm stating facts. Why not ask all those linking avacta to ODX to stop in the absence of any single piece of information linking it.

Load of tosh.....

It is not a 2 horse race it's now a 3 horse ride into the sunset.... GAD, ODX and Surescreen.

If Avacta's test was chosen, don't you think Abingdon and BBI would have got the contract before Omega?

What Avacta have done is gone to Mologic out of desperation because after working with Cytiva, BBI, Abingdon, and god knows who else, they still have not got a CE marked test. People need to decipher the RNS for what it actually says, not what they want it to say. Mologic's words say it all.

"Mologic offers a highly versatile range of scientific and manufacturing services for the development of diagnostic technology. We are very pleased to be working with Avacta to apply our expertise in this important project and look forward to it paving the way for further collaborations"

Mologic have been hired for their services and expertise. This is not Mologic bringing Avacta into a project.

It tells you evaluation is being done outside of Falcon/Condor. What happened to LTSM? Did they give it a bad report? Why ship it off to Europe? You think the test the UK Gov was waiting for was allowed to sit in customs in Europe awaiting validation? When we have world leading scientists in the UK.

As I said earlier I think that’s a good move. They need to get a test over the line even if it’s at low margin. The longer tie up with Mologic is great too. Wasted a lot of time better to have the best in your corner from day 1.

Robotics - Benefit to Mologic is Avacta are paying them to complete development. Read Mologics comment they offer services.

Working together for months but decided to announce an agreement today of all days when the UK gov suppliers announced? Complete defensive tactic.

Comments about having the best test - I believe the words were best test targeting spike protein. Go find the competitors what other tests are targeting the spike protein? Very careful choice of words leading people again to draw conclusions and see what they want to see.

All the other significant tests target the N protein because that is the most abundant protein and therefore likely to produce better sensitivity. Did he say best test or best test detecting the protein that nobody else is testing for?

Vascular the information you refer to about validated tests is out of date. Things have moved on and the criteria has changed, like Innova, they want Uk made and they want non invasive, better performance.

The best piece of validation is Global Access Diagnostics have a contract award on bidstats for reimbursement of manufacturing costs similar to what sides seen had. ODX are making Mologic/Global Access Diagnostics test.

ODx only listed company so more sensitive to information. 100% Onega diagnostics are going to get a Gov contract within days

The £6m paid to surescreen was just reimbursement of some manufacturing costs with an option to order. SO this isn't the full contract price for the 20m tests.

Fab day for ODX holders. Certainly due one. It certainly is only the start though. With 104m lateral flow capacty per year expected in just 2 months time, that opens up revenues of at least £500m. Add other revenue streams, and mcap will just grow and grow this year.

You can't say it wasn't obvious it was coming.

Omega have gone about their business, communicated a business strategy and are delivering on it. ALl the delays are external with regulations, governments, developers etc. With covid continuing as it is LFT have always been high on the agenda.

This really isn't a difficult stock to work out. All the moaning and sulking in the 40s/50s/60s..... this was an opportunity, a gift, a time to be buying. It was so obvious what was and will happen here. Anyone giving up stock is just burning easy gains. It is really not easy to make money in this game, when you get a gift like this you keep on milking it. There will be plenty of buying opportunities as the story unfolds, and i will be taking them. I am still a buyer, no thoughts of selling a share until it starts to deliver full potential.

2m test per week minimum will be made and sold from April. Expect further increases in production. The market out there is vast.

ES - why am i seething. I've said this is good i like the change of direction. I don't hate the company. I don't like the way they communicate and over hype everything and the risk reward has never sat right. They have yet to deliver, today is the first time that they have a credible development since they announced Cytiva, and the risk/reward is much better today than it was yesterday. But it is a change of direction again which suggests things haven't quite been going to plan in the background and from a development point of view suggests i have been right to ask questions. Everyone been rambling on here like the UK standing still waiting for Avacta's "Sovereign test" and validations and contracts are going to land any day. Like the evidence has been indicating it's clearly the Mologic test which is going to be the lead test in the UK, and the avacta test has barely left the lab, so again i have been right on that. Now you are targeting LMICs. The story keeps changing here as other companies move forward and make avacta's claims obsolete. It's a far cry from talk of $20 a test, worlds first saliva test, 10s of millions of tests per month, working with government. This has been my concern all along that the expectation created is far from the reality. The claims on performance again are not substantiated. There is an interesting angle on the spike protein target, but there is so much to be proven before they can claim to have a usp.

Infinisandbeyond - cost sub £1 relies on materials at cost which have been promised by some for lower middle income countries as part of the global commitment to access of diagnostics tools. The reagent is the biggest factor in cost base, so perhaps that is where Avacta will make the money as the reagent cost to avacta is at marginal production. In your scenario, if there is £3 of profit in each test, why would Mologic make a test for £1 profit for Avacta to make £2 profit, when they can make their own test and make £3 profit? Sorry but the commercials and the incentive to the manufacturers doesn't stack up. Not saying there wouldn't be profit in it for avacta, but i can't see margins where you expect. I think even in the Finncap estimate they put avacta margin at 30% if i am right, which was based on £10 a test, which is great, but it has to be £5 or less. And if they are involved in providing tests to LMIC profit will be squeezed even more. It might do wonders for Avacta to get product out there at cost or low margin just to prove their capabilities. But there is still a very long way to go to justify the value added in the MCAP on expectation of profiting from covid tests.

Progress but still lots to prove.

ES23/Infinisbeyond - I think you will find i was one of the first to comment this morning saying this is great news. 7.17 for my post.

For the first time i can see some credibility. I still think that Avacta are massively over hyping their self importance. The RNS is just cleverly written and rampy, making it sound like they are the key ingredient in Antigen testing. All Mologic say is:

Mologic offers a highly versatile range of scientific and manufacturing services for the development of diagnostic technology....

So sounds more like Mologic have been hired to get this test over the line, rather than Avacta be at the centre of collaborative efforts. Which is a great move. You have to work with the best if you don't have the capabilities yourself. If anyone can make this happen Mologic can. It seems like there have been problems and Mologic is the last chance to get this over the line, which is probably a very good move and erhaps should have happened earlier. But i wish they would call a spade a spade when they communicate.

I'm confused why the clinical validation is happening in mainland Europe. And CE marking through Mologic? What happened to BBI being the lead and CE marking? I still get the impression they are running around desperate trying to get others to pull a rabbit out of the hat. If it comes off it will be worth it, and the chances have greatly increased now.

I still struggle to see how the margins will work for Avacta. So many partners involved now will there be any margin for avacta? £5 selling price max has to be the target for it to be competitive, if it costs £2.50 to make, manufacturer may want 100% mark up, do Avacta just benefit from the Affimer reagent marked up within the costs? Can they get the cost down?

The interesting point is the spike protein target vs mologic Nucleocapsid. Can this give it a USP?

This RNS is a big tick in the box for me but till a lot to prove up.

Great news. At last something credible. Still appears to be some way to go but at least they now have the best company involved. I sense mistakes have been made but now they are in bed with the right people. Chance of success is greatly increased now in my eyes

Some things are just worth the waitColin king has spelt it out plain and clear, been transparent with the expected timeframes to get to each level of production.Colin has delivered a world class strategy and taken the market to school on how a company should conduct themselves.Onwards and upwards as we are about to move into the significant profit phase

Threeturn - the core business will at least breakeven, and move into profitability with Food Tolerance and CD4 tests. Therefore it is perfectly acceptable to look at valuations based on gross margin for lateral flow tests assuming it is all incremental value. It's actually undervaluing it as it does not value the core business at all.

I am sure i say this everything there is an Options RNS.

It is normal for AIM companies protecting their cash burn and looking for high growth to offer share incentive options to employees as part of Remuneration and to incentivise growth.

Vesting date is not important, the exercise date is the important date as i will explain.

JB - the company receive no money. It is part of compensation expense as SIP when awarded and is completely non cash settled with issuing stock. Debit comp, cr stock options reserve on award. dr stock options reserve on exercise cr issued capital

The share scheme is an unapproved scheme, which means the employee is liable to tax as follows:

Gain from award to exercise date. Income tax and NIC payable on the gain at the employees marginal rate. This could be 40/45% plus NIC. Therefore the higher the gain the higher the tax bill obviously.

Once options are exercised, they could then be sold immediately, therefore no further tax as net breakeven from exercise, or they can be held. If they are held inside a tax wrapper such as an ISA, no CGT on any further gain. If they are held outside of a tax wrapper, there will be CGT payable on any further gain. CGT at 20% is lower than income tax and does not attract CGT so it is better to exercise early. Also if they dont usually invest in stocks they have a personal allowance for CGT to use.

In this case, 50k shares exercised if you assume 10p option price, 40% tax rate and 65p exercise price, there would be income tax payable + NIC of £11.5k.

If share price gets to £1.50 and they waited to exercise, this would give tax payable of £30.8k.

So if they manage to exercise at 65p and get into a tax wrapper, they would save about £19k in tax by exercising now rather than at £1.50p
If they dont get it into a tax wrapper, they would pay CGT on the difference between £1.50 and 65p. 20% CGT = £8.5k tax, or reduced if unused CGT allowance. Total tax plus the income tax on exercise is £19.5k, saving £11k tax they would have paid if waiting for £1.50 to exercise.

This is why you see a flurry of exercising options before an expected rerate. There is a misconception that it it is employees cashing in on the current rise thinking it wont go any higher. It is not the case. It is tax saving because they know what is coming.

It's publishing historical awards, see the note at the bottom

This is no longer a live contract, this notice has been published for information purposes only.

ALl this talk about slaes is getting very boring.

We all know that until September they cpuld only produce 100k tests per week. How do you expect them to pull large contracts on that basis. Up to 200k per Oct-Nov, 500k Dec.

The UK RTC commitment is 200k. Abingdon have said they continue to produce as in advance of sales. We all know why sales are on hold for ABC-19.

It is likely ODX have made as many ABC-19 tests as they can from Sep-Jan before the antigen test comes online. Whether they sell them tests as they make them or sell them all in one go in April the income is the same.

They are only now ramping up to the capacity level required, inline with government expectation, inline with demand expectation. The fact we are not selling tests by the bucket load elsewhere suggests that the supply is already tied down, probably to UK GOV. With all the tenders being announce in the coming days its clear to see where the inflection points are.

Tweets from the company spelling it out as clear as can be without giving the game away. Lateral flow market is only just opening up. Judge sales in 6 months time not before the market is open for ODX. CE mark expected any day for antigen test. Can't sell before it.

End of Tuesday sentiment was party atmosphere saying how good the clues and comms have been, and one biased, untrue attack which we all know is unjust, reverses it and some.

It's really frustrating i get it. But its obvious what is happening and why they are keeping quiet. They have the best 2 tests they could possibly hope to be producing. Sales will never be an issue.

Zergkillss - share options are subject to income tax on exercise. The higher the gain the higher the tax bill. THen capital gains tax payable on disposal if held and it goes higher. By exercising them early they save income tax at 40/50% if at higher rate and will pay only CGT at 20%, or if they can add to a tax wrapper no CGT. You often see a lot of exercising of share options when a company is expecting high growth for this reason.

We were at the same share price on 27th April.... here is how things have moved on since:

Visitect CD4 supply agreement signed with CHAI up to 500k tests
Legal & General offloaded up to 12% of the co
Sneller offloaded up to 27% of the co to donate to charity and recycle proceeds into other stocks
MTA with Mologic adding 3 additional tests (Antigen LFT and Elisa) Antibody LFT
Fundraise £11m for significant expansion, new development
ABC-19 design freeze and CE mark
WHO pre qualification of CD4 advanced diseases test
CE mark of the visitect antibody LFT and commercial roll out
Self test user study and performance validation of ABC-19 at 98% accuracy
First £1m ABC order and supply agreement to UK RTC securing slightly better price and min 25% supply, as well as profit share on non gov sales
China self test approval for food test
ABC-19 application for US FDA EUA along with interest for 27 territories
Mologic CE mark of Antigen LFT with excellent early data, use in various live trials and validated in support of Commonwealth office who advise on travel policy and confirmation approvals sought in US and other nations
Rush for employees to exercise options to ensure tax efficient holdings
Confirmation from various nuggest from comms ODX involved in Moonshot, government supply, government support for expansion
Confirmation expansion on track
Big chunk of the cash raised still in the bank
Government contracts coming to announcements this week
More knowledge and info on immunity
Covid pandemic continuing to get worse
Confirmation of antibody testing importance in vaccine efficacy

For this share price to be the same as it was on 27th April is absolutely unbelievable. The value the company have added since that is not priced in is substantial. This is all building blocks for what is to come this year and beyond and although the large sales volumes are not coming through yet, this is all part of the planning process to put the company into a position to benefit.

In principal the GLP appear to be doing a public service. However wolves in sheeps clothing comes to mind.

This at the bottom of the crowdfunding tells you all you need to know. They rely on crowdfunding. 10% goes to admin and anything unspent gets used elsewhere. So for a case that doesn't get accepted very little gets spent. Seems to me they are sing the high profile of this test to their advantage in a number of ways.

The very thing they claim to do is to safeguard public funds. I cannot for a second think how you can challenge that in this case when they invested in Oxford and our own industry to secure long term supply at a favourable rate and ensuring the highest quality. There are many, many other examples of contracts that are higher on the priority list to challenge than this one. So why is this getting so much airtime?

"10% of the funds raised will be a contribution to the general running costs of Good Law Project. We will use any surplus to develop other litigation."