RE: The Good, the (potentially) Bad and the (possibly) Ugly26 Jun 2024 10:22
Cymru,
Many thanks for your update on the AGM.
I was expecting to attend, and my broker provided the letter of representation so i could, but unfortunately, preparation for a court case prevented me from attending.
Some great points / discussion been raised in the last few days following the RNS which i think was a fantastic one, which finally gave out some detail.
Just to touch on Techtonic's concern over the number of tests we are likely to get.
Well, i personally don't think that their will be a low uptake in US.
Reasons being, the people involve in BIO, are at the top of their league in terms of their experience, contacts, previous positions, seats on boards etc, and they are perfectly placed to be doing deals with the people that matter. Their website has been updated more recently, and it looks the part, and gives a little insight as to where they are heading, and their aspirations.
Now, 2 little points -
1. Galleri (their results have been discussed previously), are supplying their kit to US at a cost of $949 per test. Our test hasn't had a price tag attached yet, ($100 previously being a suggested price) but it will be significantly cheaper than theirs. (and more accurate).
As well as the general screening program, the US has a system where employers also provide access to testing - particularly firefighters, emergency responders, etc.
In addition, more and more health providers (Medicare being one) are adding this into their employee remuneration package, as it is seen as a far cheaper option to detect early, rather than the costs of surgery later.
2. The contract between NHS and Galleri, includes the option for NHS, -subject to Galleri results confirming the expected efficacy numbers, - to purchase 1 million tests.
Some while ago, i posted this info, along with the "undisclosed cost" which i had discovered was actually £390 per test.
So when suggestions of our mcap not getting to , i think around £39m was mentioned, just getting our test into NHS, never mind US, or China (will still be on the cards by the way) blows that valuation clean out of the water.
On the subject of Galleri /Grail, i posted lots about the issue of their anti-trust case with the US and EU regulatory authorities.
On Monday, they finally submitted, and divestiture from Illumina was completed.
Interestingly, i read a report last night that Grail may now have to make a pause in the NHS trial, as it is envisaged that they would require up to $5billion to complete their groups R&D.
If i was heading up the Cancer sector in NHS i would be keeping an eye on that one.
All looking good to me, with more news expected soon.
Neil
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