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Dibs yes of course i was expecting it to have a positive impact on the share price. And it blooming well should have done. The market has got the share price by the balls at the moment, it's way oversold and undervalued IMO. Yes you may have got short term right. As i've said before there are two games, investing game and trading/market game. I'm clear i am only playing the investing game with this one.

Dibs just because the share price is down that doesn't mean design freeze was priced in. We are in a strange place here where sentiment has been unnecessarily tarnished despite the fact Omega have some incredible opportunities. You cant possibly say a major project leading reaching a significant milestone which validates the growth potential leading to significant revenues is worth less after this is announced.
Share price sucks and traders winning from it, but i dont agree for a second design freeze of the gold standard test is priced in at 50p. Share price doesnt always price everything in this is market mechanics driving this not commercial value.

Everyone that's been posting negatively for so long, all the games are designed to create PIs to do exactly what you are doing. Give up. Make you think that you need to sell at the first opportunity to protect capital. I've seen it before many times.

lol its crazy to see these comments and how this opinion is repeated so many times.

You have 2 choices.... a company that can produce 100k tests per week and 46k elisa tests per week, or a company that can produce 2m tests per week for a 20% dilution. The placing to raise the funds for this amount of growth was a no brainer. Yes the placing has short term implications, but that placing has transformed this company into a company that can be 10 times bigger than first thought with the early RTC and Mologic RNS's. This is what people are missing, focusing purely on 40p rather than what the actual investment of £11m will do for ODX.

I am very disappointed with the share price, but i know i am right about the business and it will see the value in due course.

It's a government supported consortium. It has been from day 1. What's the problem we have guaranteed demand beyond what can be produced. If the government are going to buy them and give them away, there is no private market in the UK? If it wasn't for the RTC we wouldn't be in the game.
It's the Gold standard test. There will be demand. But we have to make sure UK have their supply first. It's first and foremost about tackling a disease. If the government buy 50m for every one on the voting register to take one, what i struggle with is timing and repeat testing. Do you send 50m out on the same day? Probably not as it will take too long to make them. How do you survey a population when new cases are still ongoing every single day? I think the UK demand is going to be much higher than 50m. If it's the gold standard test they have to find a way of opening up other markets as well as meeting UK demand. There has to be more to come here and they have to secure more production capacity. But it cant be at the expense of producing more profitable tests for ODX. Today is just the first step. Remember what's to follow.

CE Mark
PHE approval
WHO approval
Further understanding of immunity
Roll out of UK RTC via amazon
Link to a test specific NHSX app
Government policy on what a result means

There is no reason to be disappointed it is "only" 200k tests per week, and no need to be disappointed the selling price is socially responsible. Realistically it's what was expected from day 1, and this alone has big upside for ODX. There is a premium for being involved in this. It puts ODX at the centre of the UK diagnostics industry.

Mologic deal alongside RTC puts Omega in an enviable place of covering lab and POC testing for both antibodies and antigen. Who else can say that, other than Mologic themselves?

I think it's slightly unfair on CK. The first Sky interview was ok. He seemed really nervous and unwilling to give anything away today. Probably as a result of the backlash of the first one. Yes he could have done a much better job, but it certainly doesn't take anything away from whats been achieved.

Block - the placing has nothing to do with the write down. It is a non cash event.

The £7m is to upscale production, to buy expensive kit. Fit out a new production facility in Dundee. And some new development. It's actually great news they are already thinking about new projects now rather than further down the line.

Its incredible the number of people talking this down. There is nothing negative at all here its a fantastically positioned business with high growth coming. The only reason to talk it down is because they want a lower share price for their own agenda. Seen it all before it will turn.

Add that to the impatient ones who have fallen for the negative seeds planted and sold at the first opportunity. This company will be everything it has promised to be. They are a company that deliver. Under promise and over deliver. It might not suit the agenda of those that want to make a quick buck, but it will grow on solid regular news flow.

Wallbrook on Twitter confirming it was Omega manufacturing facility being shown on Sky news. Were they manufacturing another test or RTC tests?

Nobody ever thought Omega were doing 1m tests per week it was always 100-200k per week. The mention of 50m tests was not misleading imo this was used as an excuse. The point is, now they will be capable of doing 1m tests per week. Whether those are RTC tests or Mologic tests will be down to demand and adjusting the product mix.

Yes correct. Me Sneller hasn't sold any more his holding is diluted because of the placing shares.

TBH it wasn't the best interview in terms of promotion I have ever seen, but i think that comes from the line of questioning.

The problem is everyone wants to know steps 2, 3, 4, 5, 6 etc before they have happened. Today is a big step but only step one. People gloss over step one and they want to know the full story, but its still price sensitive info that wont be announced yet.

It's always been a government initiative and part of the testing strategy. This is a big deal for ODX.

The government plan is to send this out to all households. They want everyone to have a test. And they will use Amazon to distribute.

He seemed very cautious about not giving anything away that he shouldn't. More excellent coverage though. 20-30 people working on this at omega. CK had a test in his hand. They showed a production run, it's unclear whether it was Omega facility or not.

Colin King on SKy!

They are just talking on Sky news about placings with a fund manager. Talking more about larger companies but it applies to all.
Saying that in the current climate fundraising is not very appetising for fund managers with the possibility of markets falling further and having liquidity tied up at a discount is obviously unappealing. He said go big and go early to get the best fundraising done.
Just relating to ODX placing this is by far the largest fund raise they have ever done. Covid plays are obviously hedged against further risk in the market. Perhaps they have had to offer a lower price than usual because of the market climate, but the up scaling plan clearly shows this is a sound investment.

Well we had an RNS today, believe it or not as the share price doesn't show it!!!

Not saying that share price wouldn't react better after any overhang is cleared, but they are not going to hold anything up because of it.

That's rubbish. This is usually because companies put out good news and raise off the back of it with no news coming, many of which just raise for working capital and paying their salaries.

ODX have raised money to put to immediate use on a plan to significantly scale up the business, and much of the news is dependant on this plan. I've used the term slingshot finance because this money has increased the scale of the business 10 fold to what we were expecting. The placing price is a limiting factor, but the upside to be generated from the scaled up production far outways any dilution and value generated will be many times placing price.

Whether news comes or not it is nothing to do with the placing shares.

IgM testing you could still be infected and contagious. I'm not sure it's important. If they plan to use the tests for things like immunity passports etc, the IgG is the key.

The aim of this test is to test to see who has had and recovered from the virus and now has immunity, so that they can be classified as lower risk for spreading the virus. This is not achieved with IgM. Perhaps the quality of the test if they tested for both would be compromised.

You have to remember the RTC agreement was in April at a time ODX only had 100k capacity. So the 200k they committed to was already based on upscaling.
At the time this was seen as fantastic. 10m per year. ODX normally deal in orders sizes of 10s of thousands some times 100s of thousands. This is 10m so the upside is quite rightly huge.

Roll forward, Colin King speaking with Mologic has managed to sign an MTA for 4 other tests. It is off the back of the ability to make 5 tests they have a plan to increase capacity to 2m per year and have raised funds on that basis.

RTC sold to the government will likely be cheaper and mologic tests will likely be more profitable. So the fact that as things stand the RTC are only 10% of our total capacity is not a negative. Not sure why people were impressed with 200k tests per week but now its only 10% total production its disappointing? If Mologic antigen tests become available we dont want our production capacity tied up with RTC and unable to make antigen tests.

The flexibility ODX have here is crucial, which is why they highlighted this in the RNS. Clearly if they have spare capacity and demand for a product then that capacity will be directed towards the product in demand. It's likely the RTC test will have demand off the chart.

There will be much more to come on this because they will never be able to make enough.