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That has nothing to do with our tests.

Selling price tbc, but basically yes!!! Operate at 70% margin for other tests. All free cash flow, low debt and low admin/corp expense.

Thing is most PIs fear a placing as a lot of the time the funds just end up getting burnt on r&d and directors salaries and companies keep churning through them at lowering valuations when they run out of cash. In the short term investors try to play the game and act based on how experience has taught them to act. There will be shares washed through for sure making the sp act a certain way.

I do not have that fear here. Look at what the money is being spent on. It's being spent multiplying the capacity of this company 10 fold and it will be turned into significant revenues, not burnt through on salaries and r&d that has more hope than expectation. It's like taking a team from non league to the premiership, if you could do that in one season for 11m or spend the next 20 years trying what would you choose?

We have 10 times the production capacity that we thought we might have just a couple of weeks back, and with that we have the potential of Antigen and Antibody tests both lab based and POC. People had lofty share price predictions based on a 10th of the sales that we now might have. Once you get over the short term share price impacts of this placing and start actually working out the impact that those funds are going to have along with the mologic and RTC agreements, then 20% dilution to achieve 10x the growth is more than a fantastic compromise IMO.

Share price is driving sentiment here not the other way around. This will turn around quickly in my opinion and we will start to move forward.

Don't underestimate Food Interlorance tests and CD4 too.

It's quite simple if you read the RNS and the circular.

The funds are raised mainly to increase production capacity to 2m tests per week. The scale of this project required funds.

I used the term catapult finance as the injection of these funds transforms the business into a whole new league. If you look at what they are actually achieving for the 11m it does really look like money well spent. I was hoping to avoid a placing but that was on expectation of 100k units and 46k Elisa tests for starters. The plan with the fundraising blows this out of the water so i am over it and on board with it now. I would like to have seen it at a higher price, but we have to accept that city will make their money before us.

There is no good having a plan and not the ability to carry it out. This will not be one of those raises where they say thank you very much and you dont hear from them for months. They will be putting the funds to work from day 1 and turning it into immediate added value.

Abingdon scaled up to largest production facility in Europe
ODX plan to go up to 1m a week
BBI expanded
Ciga also

Initial plan is based on UK demand. Priority is to look after our ow. I don't think they have even planned for global demand at this stage. When the test is announced i am certain inquiries will come in left right and centre.

People were paying up to 90p when we were only going to be producing 430k tests per week. Plan now to go to 2m per week.

Even if you say that was a mix up with the 50m, which i think is an excuse, we will now be at double that.

I think they are playing down the demand at the moment. Until we have a product at market and getting orders.
Personally i think the RTC will attract so much interest and they will get lots of inquiries and will exceed their own expectation which for now they are basing the model on just UK demand.

PTO - I cashed out a winning Ascot bet just before the off as the commentator put me off it. It won of course. Selling out now would have a similar feeling IMO
Best of luck but not a chance this will be under £1 come Sep, especially with food tolerance and CD4 updates before then IMHO

Interesting last few posts PTO
1 - Socks blown off
2 - Established player in Bio Sector
3 - Im out!!!

What are the odds!!!

"Wow my socks are blown off by ODX's involvement with Mologic. Both Antigen and Antibody, this is really significant. Plus look at how much capital is being used on developing Meningitis and TB tests in HIV patients . This company is truly in a transformational stage. Its a long hold for me , post Covid is going to be fascinating with ODX. This is once in a lifetime opportunity for a small biotech company and although Covid has been attrocious its has brought a jackpot of cash into the biotech sector which will benefit research into other awful medical conditions. Exciting times in biotech."

"That investors percieve that Omega no longer being reliant on the RTC as a negative. For me it has reduced the risk. My main worry was that Boris would pull the plug , he has the attention span of a goldfish and cannot be relied upon to sign orders. The partnership with Mologic is good not just for Covid but establishing Omega as a player in the Biotech sector."

Someone's posted on twitter a broker note from Finncap saying food tolerance alone underpins mcap with upside from Visitect before Covid tests. Covid tests substantially in excess of current valuation.

Funny they say that now they got the discount placing done.

https://twitter.com/Mango_stocks/status/1275386511370878976/photo/1

The thing is if our total capacity was 200k and we were supplying 200k for RTC i think some people would be happier with that info than the revelation that we have 1m total capacity for 3 tests!! We were initially told 100k capacity going up to 200k but now its going up to a million and a million Elisa tests. This is huge, we were expecting 200k total lateral flow capacity and 46k a day Elisa tests only a couple of weeks back.
This is a company where normal orders are in 10s of thousands with a large order being maybe 100k. They are going to be making up to 2m covid tests a week. Just get you head around that. People talk about the valuation potential, well this is why the valuation potential is so high.

Regarding the 200k tests and relating back to the sky interview.... 200k tests is just over 10m per year of the 50m. This is a significant chunk.

I emailed Walbrook on this last night and had a response this morning, conveying the message in my own words.....

So the 200k tests is what was in the original agreement with the RTC that Omega would commit to supply which would have been based on initial estiamtes of demand and production capabilities within the group. Obviously since that agreement Omega now have a plan in place that takes production capacity up to 1m. Also since that agreement Omega have 2 other lateral flow tests with Mologic. The 800k capacity once they are up to full capacity can be flexible depending on where demand is. Obviously before the test is ready to go it's difficult to know what demand will be, so the 200k quoted in the presentation is the minimum commitment from the original agreement. It seems this is focused just on UK demand, so if demand comes in from overseas it is likely the supply agreement will be higher than 200k. With regards to Mologic, this is a good test suitable for export that Omega will look to sell and distribute to the 75 countries they currently operate in. So RTC 200k for 1 country at the moment, 800k for Mologic where there's potential for 75 countries. Product mix is flexible based on demand.

Makes sense. Key think is there's 1m of capacity, that is where the value is. The broader product portfolio gives them the best opportunity to maximise that value by seeking out demand.

A ridiculous suggestion to out CK regarding DF. Firstly design freeze is not in his control. Secondly he has done a very good job for Omega here. I heard he initiated the Mologic agreement whilst talking to Mologic on another matter, and from that conversation he has pulled of an agreement that will make the company hundreds of millions.

Slightly behind AVCT in terms of timeline.... ****ing myself laughing!! We have already sold 100k more covid tests than avct ever will IMO So no we are not slightly behind in terms of Covid testing, we are a long way ahead, as we have 2 viable tests, 4 conceptual, they have 1 concept.

I don't have a time to market, but ODX do. Listed to the presentation today. It's not as quick as i'd hope which is probably why they had to place rather than manage it through cash flow. But it might not be as quick as i'd hoped but the production numbers will be double hoped i'd hoped for. 1 month opf sales with only one testing product will be a record month for ODX so by the end of the year will be in dreamland.

We are all disappointed they are not delivering multiple tests today. But this virus unfortunately has a long way to go, and we are making sure we get it right not just rushing out tests to profit from it.

I think in all honesty there isnt a great deal of ill feeling here towards AVCT. I mean fair play to them they have achieved an impressive valuation. I think there are more people putting ODX down because AVCT is valued higher than the other way around, maybe more so on twitter but i dont post there.

We would all love the stock we are invested in to be valued as high as possible, AVCT have achieved that and we haven't. The problem with a stock being currently valued as high as possible is it has more to prove and further to fall. It's a glass half full half empty scenario. I dont wish any investors over there a loss, or any bad sentiment towards what they believe in. But, when i compare the businesses AVCT has a lot more to prove than ODX, despite the fact it has sold itself better. People will disagree based on how much they have invested in each, but if i believed AVCT was better value at this price i would sell and put my money in there. If i believed it was equally good i would sell and put half there. Investing is all about beliefs. Sometimes we need to accept people have different beliefs. SO if anyone comes to this board and wants to talk about the comparisons between the two i will happily give my opinion, but im not going out of my way to do it over there.

Crystalclear, whoever copied my post it wasn't me. Unfortunately i didn't copy write it!!

Crysxtalclear i can tell you 100% i do not post under any other name I have posted a couple of times on there when appropriate. I have no intention of bashing the stock just using it as a yardstick for ODX

In any field if your not comparing to peers you are missing a trick.... who remembers beat coke???

If your in the other stock and heavily in profit well done good for you milk it, i envy you.

But the reason its value is where it is is because people are hyped up on the antigen POC test that may never happen because it will get you into football stadiums, gigs etc

lol no disrespect to anyone investing there, if i wanted to trash it id be doing so on there., As i've said measuring value against peers is a must and it gives confidence here. If you offered me both at the same mcap id split it 75/25 odx, but its not the same.