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Omega have been spot on in their timelines. There is not a chance all of the things currently due will slide. Timing of contracts and approvals is out of their control. What they can control is the scale up of manufacturing and tech transfer. I do not expect them to miss on this so we should get at least an update on that.

The Elisa test will be very competitive in India, and although many tests are approved, our tests is spot on for that market and will be at the top of the list. I'm not sure where things are with the self test kit, but this will transform our Elisa demand.

The fight against this virus will be a marathon not a sprint. Far too many have the mentality that its a 5 minute job.

They have the quality of products that will fly when all the i's are dotted and t's crossed.

Do not underestimate Mologic. Just because many wont of heard of them and they are not listed, it doesn't make them any less a partner. They had government funding, link to Gates foundation with development funding and one of the main guys is one of the inventors of the clear blue pregnancy test, the first lateral flow device.

Mologic lateral flow antibody test is due to be CE marked by end of Aug. UK RTC will want to secure the supply agreement before this happens otherwise Omega could commit 800k units to Mologic tests and only be able to make the 200k already committed to UK RTC. I think we will get both these things by next Friday 4th Sep.

Also Elisa sales update by end of next week.

News before AGM was never an expectation, most people probably didn't even realise there was an AGM this week.

Its a compulsory meeting with compulsory resolutions. Just box ticking exercise.

We have plenty of material news items lined up to get excited about

Quote from BBI solutions:

"Given the scale of the potential demand for the test within the UK, the Consortium will introduce a phased ramping up in capacity, but is making these key appointments in preparation for ensuring a smooth transition to high volume production at the manufacturing facilities by the end of the year. "

Colin KIng has talked about 100k units Sep, 200k units Oct... I am fully expecting the supply agreement to go beyond 200k units. BBI mention high volume production by end of year. I suspect this is much bigger than they are currently letting on.

£2 could be selling it short just on UK RTC and Mologic Elisa and Lateral Flow antibody tests. With the Antigen test also due any day i'd expect much higher than £2 if they deliver everything they have promised by end of Sep.

It asks more questions than provides answers. But it would mean the virus and therefore antibody market are around for several years to come and not just the 2/4 year wave that we might be expecting in terms of cash flow benefit. Controlling the virus through testing along with any treatment will be the only way to manage it, as it wont be eradicated.

IF this is true and correct and to be the case, which is a huge IF:

1) First time he was ill and hospitalised. Second time no symptoms and was only detected by a compulsory tests and there was no illness. Immunity doesn't stop viral cells entering the body, it prevents illness. So if true this is a huge indication that reinfection of corona virus does not lead to Covid-19 illness.

2) This would only lead to more regular antibody testing as those testing positive will continue to be tested.

Just to highlight one point here. I haven't read the board much last week or so, but i doubt this is even been mentioned....

The Mologic lateral flow antibody test, for which currently 80% of the lateral flow capacity is available for, and a product that will be more profitable as Omega will deliver a packaged end product and not just the cassette like with UK RTC, is expected to be CE marked by the end of Aug.

So add this onto the UK RTC supply agreement and tech transfer etc, the development of the Antigen Elisa test completion all due any day, this is a huge 1-2 weeks.

"What the UK RTC has developed is unique. This is a home test that can be posted out to the people of the UK and can be conducted by them at home. It is a simple finger prick test that can be done without medical assistance and which will provide a result within 15 minutes without any need for the test. Given the high-performance data we have achieved for a home test this will be the gold standard for self-administered antibody testing. The global decentralizing of Healthcare to point of care or home testing will only see the demand for lateral flow testing increase."

"The UK RTC have been in very close contact with the UK Government throughout the development process and home-use mass testing using a gold standard reliable test is very much part of the Government’s five pillar national testing strategy for COVID-19."

"In the event that at some future point, demand outstrips Omega’s planned capacity build for 1 million tests per week for each of the ELISA (covering both antibody and antigen tests) and lateral flow tests (also covering both antibody and antigen tests), then yes, we would look to increase production"

UK Gov RTC Supply agreement - Expected by End of Aug
Self Test approval - Expected any time, but makes sense to come with or before above
Announcement of Government mass testing strategy - expected any day
Completion of tech transfer and successful validation batches - Expected end Aug
Commencement of production, and 100k daily units - end Sep
Increase to 200k units per day - end Oct

Look out for an increase on 200k units.
Also look out for non UK gov sales which may be higher margin.

Mologic Lateral Flow test CE mark - end of Aug
Antigen test development complete/ CE mark is expected in Aug-Oct. This could be key to maximising the 1m per week Elisa test capacity.

The next week or so is what we have all been waiting for since the UK RTC was announced. Last weeks tweet was a very bullish indicator that everything is going to plan.

Fincapp research note values VIsitect at £55-£85m alone.

Another huge achievement by Omega. One of the key items ticked off on time as promised by CK.

It's not a duck it's a cygnet, soon to be a swan!

August:
Completion of scale up
Completion of tech transfer
ODX validation batches
MHRA self test approval
UK Government/UK RTC supply agreement
Possible updates on Elisa sales

September:
Production at 100k UK RTC per day
CE mark of Elisa Anitgen test
Tech transfer of Mologic lateral flow test

Also expecting:
Announcement of national government mass testing strategy
Further developments on Antibody science
Approval of finger prick for self test for Elisa antibody test
Other local approvals and sales of Elisa antibody test
CD4 WHO approval
China self test approval

Please let me have one last top up low 50s on Friday. Please....

As we get further into the year were getting to a stage now where things will move quickly and cash will come through the door quickly.
UK Gov contract should be this month, Elisa test orders i'd expect some news on, and then September Antigen test and tech transfer of Mologic lateral flow test. I'm looking out for an increase 200k units plus non UK Gov markets.
Really should have a frequent flow of material value adding news over the next 2/3 months.

Yes, totally still invested. Just quietly adding to my position. Works busy so not been following here much, just waiting for things to get moving.

DD - i am still a buyer so i dont care if the share price goes down it will do me a favour when i top up next week.

There is one major difference with UK RTC and all other companies.... all other companies are free to negotiate with anyone they wish. Therefore in order to secure supply they have to do the deal early.
UK RTC were set up at the request of the UK Gov, therefore they don't need to sign anything early to secure supply as they are already have an agreement in place that secures up the supply. UK Gov get their order before any excess is sold privately to non UK Gov.

Absolutely no concerns with this, it will come and with great fanfare when its ready, and it will be well worth the wait.

Even the antigen tests are only just around the corner now with Ce mark in September. Next 6 weeks are going to be huge.

Already approved in India.

News to come....

UK RTC home use approval
UK RTC UK Gov order
UK RTC ODX supply agreement
UK RTC non UK Gov orders
Completion of Tech transfer and commencement of commercial production
Scale up of production
News on science of antibodies
Elisa test further approvals and orders
Elisa test finger prick update
Mologic lateral flow tech transfer
Mologic lateral flow orders
Mologic antigen tests
Food test self test approval
CD4 test WHO approval

Bound to be a surprise or two in there as well