Member Info for Muck165

I think that’s right Ronnie, although their statement in the 28/2 update that “current cash is in line with the boards expectations” perhaps indicates it will be a little lower. To me that would make sense given the number of new recruits over the last 3 months, at senior level and many from AVCT.

So I’m expecting cash to be lower than £4.4m, but not hugely lower, with positive forward looking statements for full year revenue in excess of last year, mean H2 revenue some way in excess of £1.7m. All of that still points towards a company that’s righted itself and has prospects aplenty in house and on the horizon.

I’ve waited in fear for past updates and results with ABDX. I don’t do that any more.

For info - companies house was updated on Friday to show the DHSC charge satisfied in full. I’m not sure why this wasn’t done months ago tbh!

I think the encouraging things are our cash position, which remained stable at £4.4m between 31/10 and 31/12, the significant increase in new contracts (and the expected uptick in H2 income), and the exciting prospects involved in those opportunities. All of this points to the right sizing and business transition measures having the desired affect.

If the results continue to show stable cash then tbh I think the current £6m mcap looks very cheap.

Just for info, this video has been updated by Salistick today. The instructions for use are the same, but at the end it’s now plastered with Abingdon Simply Test contact details.

https://www.youtube.com/watch?v=AqJ1A7CupNo

I suppose the point I am trying to make is that ABDX aren't supporting Senzo in relation to a specific product, but will provide CDMO services to Senzo customers looking to develop products on Senzo's highly accurate Amplified Lateral Flow (ALF) point-of-care diagnostics platform. That is a platform which even US government agencies are interested in.

I know Joe.

Which makes wonder why BARDA entered into this agreement with Senzo as late as October 2022.

I thought this was worth sharing..

https://www.senzo.com/newsroom/senzo-receives-funding-from-the-biomedical-advanced-research-and-development-authority-barda-to-advance-its-pcr-accurate-lateral-flow-covid-19-test

Interesting that a US government agency backed the Senzo covid test, and seems to still be backing it

Public issues with LFT’s seem to be ease of use and accuracy.

ABDX are trying to tackle both through saliva based testing solutions, an app which is progressing towards quantitative not just qualitative assessment of results, and tech demonstrating PCR accuracy.

I agree DP that we’ve been here before , especially when backing startups, but surely something will come good soon!!

As I said in this thread, PCR type accuracy sounds good to me. Solid RNS showing ABDX are working at the forefront of LFT tech development.

Talking of breadcrumbs, this peeked my interest…..

https://www.linkedin.com/feed/update/urn:li:activity:7035934207310729217/

The comment from ABDX, made 5 days ago, is interesting.

“Watch this space”.

Agree Christo - some kind of development agreement I’d guess, if anything.

Ta for the compliment, although there’s only ever a smattering of us on here anyway and much of what I say could just as easily be toss as truth! Just trying to follow breadcrumbs really.

Earlier in this thread (30/1) I highlighted the potential for some deal between ABDX and AVCT, giving my reasons.

It’s notable now to see further Senior AVCT diagnostic R&D staff either leaving or being open to work.

Head of product development - https://www.linkedin.com/in/marc-green-6b037120/

Technical Product Manager - https://www.linkedin.com/in/paresh-patel-1bb4461a/

I’ve been in Avacta a long time and believe in its prospects, but I just don’t get how getting rid of a slew of R&D diagnostic staff, and Senior ones at that, supports their dx vision. If they are looking to create a fully integrated dx business then yes, they can create necessary Affimers, and Launch can distribute, but who on earth is going to develop and then make the actual tests for those Affimers to go into?

We, as a CDMO with a pre-existing relationship, regulatory expertise, and manufacturing scale look a good bet to me, and of course plenty of AVCT R&D staff came to us earlier this year.

I would not bet against there being some kind of deal in the offing, although that is of course just my view and I could easily be making 2+2=5!

TBH Apre, your reasons for staying in pretty much match mine. I am upbeat about Salistick because it’s unique and could do really well if it’s accurate and marketed properly. But it’s savings and efficiencies across national health systems where real benefits could come. It’s already starting to happen….

https://www.youtube.com/watch?v=UfDEc1mKYSY

For info, ABDX are recruiting for Junior Project Manager(s)

https://www.linkedin.com/feed/update/urn:li:activity:7037409756700930049/

https://www.aplitrak.com/?adid=S2llcmFuLm1hcnRpbi43ODgzNS41NDAzQGN5cGFydG5lcnN1ay5hcGxpdHJhay5jb20

I like seeing stuff like this. I can’t see it’s a replacement vacancy so it suggests the foundation business is strengthening again.

New patent granted

https://www.londonstockexchange.com/news-article/ABDX/appdx-r-granted-further-patent/15864050

For info, Salignostics posted this IFU video on YouTube a few days ago.

https://www.youtube.com/watch?v=m2kTC7N0gxE

We know it’s currently going through regulators for approval around the world, with our help I’d wager, and aiming to hit the shelves between now and the end of June. Interesting that they’re posting the IFU now…..could it be available sooner than we think. Would love to see an approval RNS linked to a manufacturing deal and major retail outlet distribution!

Agree with pretty much all you say DJP, especially the prospect for this to go berserk on the right news given how sensitive the SP is to tiny volume.

I once did think M19, but always wondered why they chose SW if that was the case given his tech background. Perhaps it was to be Saturn Pass?

Whatever, they signposted quick NED appointments after the CP buy in, which never happened, so I’d defo say the original target fell over.

But at this SP, we’re in for the same risk as the CP. Apunt worth taking in my view.

Thanks for sharing DJP - mind me asking when you spoke to Nigel?

I just don’t get why the CP would invest without a target in mind, as part of a broader plan. Perhaps they did with M19, but it fell over, but that doesn’t really wash given SW is a career tech guy.

More comms would certainly be helpful; as it is, we’re all blind and left guessing. Results this month might shed some light.

No red dot here, so for those that haven’t seen it 3 March 2023

Vast Resources plc
(‘Vast’ or the ‘Company’)

Board Update

The Board of Vast Resources today announces that Craig Harvey, Technical Director, has notified the Board of his intention to step down as a director of the Company which will become effective immediately.

Andrew Prelea, CEO of Vast, commented:

“On behalf of all the board, I would like to thank Craig for his contribution to the Company during his tenure as a director. We wish him well for the future.”

Short and sweet notification that Harvey is stepping down. Strange move given the expected Q1 production at BP