Member Info for neilrich3

DHSC Response: We are working through a very large volume of applications at the moment, and we cannot provide a fixed time frame. Also, if the application data was submitted not according to our technical guidance ( https://www.gov.uk/government/publications/assessment-and-procurement-of-coronavirus-covid-19-tests/covid-19-test-approval-step-2-process-for-desktop-review ), as you see in the guidelines, we have to stop the process and go back to suppliers giving them 20 working days to provide the information – so that is an additional time frame that needs to be taken into consideration.

Gizmo, Explain the RNS which detailed the circa £3m impact upon revenue having had to withdraw all but one covid19 testing product from the UK market?

At present, still have 8 products withdrawn from sale within the UK as not approved under the CTDA regulations.

https://www.youtube.com/watch?v=baEephIEB6g
FFWD 9mins
-The need for testing, specifically for clinical purposes.
-Not enough PCR tests
-LFT not accurate enough to detect Omicron.

https://jcp.bmj.com/content/early/2022/01/07/jclinpath-2021-207750
Not sure....what is the Genesig portfolio worth? Today's enterprise value?

Annual £15m EBITDA does not fit with the target for becoming a Mid Cap. I guess once we factor in new products, new markets, global expansion, possible M&A.....anything is possible.

David's previous company experienced rapid growth in revenue under his tenure:
Amyrt Pharma Revenue:
2017 $1.5m
2018 $16.5m
2019 $58.1m
2020 $182.6
2021 $224m (est)
2022 $341.1m (est)

Don't for one moment believe that David is targeting £50m annual revenue for Novacyt.

The fact that NCYT has maintained a 'Head of Government Sales for UK and Ireland would also suggest that we are still selling to the UK Government, would love to know how busy she is at present..
https://www.linkedin.com/in/samantha-stuart-8790b079/

Absolutely.....Department for Health, NGOs, Governmental and Philanthropic.

I’d agree that David was being conservative in what he said, being the new boy yesterday was a kitchen sink exercise to some extent, although I feel that it was a good RNS and better reading than much of the pure speculation upon this board. The RNS, together with the LINKEDIN post earlier Today by Michael Dent, the fact that COVID is going nowhere…..all reason to be optimistic for the future of this company.

The current consensus I believe is that the dispute is due to inefficient products and processes. The GLP is all about the unfair awarding of contracts.
____________________
I hope this is the reason given that the DHSC continue to use our products and equipment.

As David said yesterday "build on success with laser focus" changing from a development led to market led company. He's building a better business, he's already cleared the decks, check the recent hires and the new Executive Management team, David has gone after and hired some big hitters and the fact that they shall be targeting areas of high unmet need, whilst expanding their global footprint. Clearly he's playing his cards close to his chest, we know that new products are under development, including new instruments. Also, don't forget the fact that there's no debt and more than a £100 million cash to invest. I would not pay too much attention to previous conservative forecasts, it is a case of wait and see.

Worth plotting a graph for what David achieved at Amryt Pharma, where under his tenure as Chief Commercial Officer and then Chief Business Officer, revenue has grown from £1m to >£250m a year in less than 5 years.

https://www.jpost.com/breaking-news/article-694475
Serious cases increase tenfold in span of a month, continue to rise
Israel reported 871 serious coronavirus cases on Monday, 10 times the amount of serious patients recorded a month ago, on December 25, when there were merely 88 patients in serious condition.

Revenue derived from COVID-19 products accounted for 86% in FY2021

'Build on our success with laser focus" is what David said earlier Today, his new Sales teams shall be looking to smash that number above, already know that we have more than 600 products available in our catalogue and new products to arrive in 2022. Like any sales team they shall have their targets and I'd bet it is more like 60/40 for 2022.

Perhaps Today's trading update was David drawing a line in the sand, he would have had little impact upon the 2021 numbers, especially when you consider the CTDA debacle. From here on regulatory announcements shall highlight the work done by David and his new team.

YGEN has forecast earnings available to the end of March 2024. Wonder whether our Brokers shall provide a consensus in the days ahead.

Burning cash? They added £24m to cash in H2.

Shall be surprised if that's the only interview that David does.

https://www.youtube.com/watch?v=uMviJTijVuw&t=4s

https://novacyt.com/executive-management/

Bryan Close (Chief Operations Officer)
https://www.linkedin.com/in/bryan-close-48782146/?originalSubdomain=uk

£101 million in cash, that's a massive amount of money ready to invest.