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I would have imagined that the contract was a call off contract for phase 1. Genesis and exsig kits are no longer required, they have been replaced by promate. This is now being rolled out so some agreement would have been reached. I don't know any contract specific details but it would make sense to me to simply substitute promate in, under additional products

@Troublesome, I couldn't agree more

There is so much more to life than money. Plenty of other companies out there to trade, probably not so many that can help save so many lives.
Just my opinion and hypocritical of me to suggest as I'm invested too.
But I want this company to thrive, its what the world needs. I've lost 3 friends to covid already, all under 55, the latest 48 and as fit as a fiddle, 3 young children and a single parent.

Thats a good appointment, novyact need to up their game wrt corporate communications, however, the underlying company and products, in this market is essential. I'm not talking now either about punters making profits, im talking about bringing to market products that can help.
Lots of upset and angry ppl today. Let it go, keep your head, look at what this company does, how well it does it.
Being bought out by a major player is not whats needed. This company lives and breathes on its agility to react to a rapidly changing environment, which is exactly what the world, not the markets need.
Novyact are not here to make money for investors, they are here to try to help the world combat this pandemic.
Its about priorities, if I was GM, I would be so proud that I'd got a company together, brought together a fantastic team to help us fight Covid.
Personally I wouldn't give a rats a$$ if anyone was making money out of it on the stock markets.
You can't spend anything if you're dead. Let's just remember what this is all about

@troublesome, exactly and there's the rub. The current government appears more concerned with window dressing rather than dealing with the issue thats killing all our friends and family.
When the Q32 s were distributed, they were immediately added to the government figures regarding testing capacity, irrespective of whether they were being used or not.
So I personally may feel like the novyact machines are actually something that could help make a difference if distributed and applied in a sensible manner, however those in charge are completely unpredictable really, so this may be the manna from heaven to help us beat covid and it could end up in the bin because its not British and doesn't get the right headlines.
We live in uncertain times

@triumph1.
Hi I think I disagree with your assessment re the requirement for phase II.
To recap 300 q32/16 were rolled out late last year complete with the exsig and genesig kits.
When these hit the shop floor and users got their hands on them, it transpired that lots of ancillary items were required to implement them properly, that were not supplied. This in conjunction with a convoluted pre preparation process, requiring no small amount of skill and precision from operators.
Given the pressure the lab staff have been under since last year, plus lots of different covid analysers to deal with, this was just too much to deal with and simply abandoned them. Ppl on here didn't like me saying this on here but in reality, thats what happened.
This was fed back to DHSC & Novyact, and to their credit, they came up with a solution, PROMATE, that has been proven to resolve all of these issues.
This is now being rolled out.
So the whole process has been delayed, its hardly surprising therefore that phase II hasn't been announced yet. So I'm personally confident now that the uptake and usage will ramp up steadily from NHS lab use over this year.
But, I think you're missing an important point in terms of how many more will be needed in future. Yes the labs probably won't need anymore, they also have major large analysers.
Q32s were pitched as a POCT piece of kit (point of care test).
Under the testing that was reported in the RNS, they have been used in those settings and found to be fit for purpose. So the next 700 aren't going to ge used in labs, they will be used in testing centres, GPS surgeries? Schools. All community based testing, giving high quality results on site in 1.5 hrs, compare and contrast that capability to what we have now, useless innova LFT tests or bundling them all off to a mega lab and introducing delays, when whats needed is a rapid identification of outbreaks on the ground.
So, in my opinion, there is a massive need for kit like this and who knows it might even help us get on top of this pandemic.
For these reasons I've ignored most if not all of todays ******, fundamentally nothing has changed and Novyact, as far as I'm concerned, remains on track.

I think the sp movement today should be largely ignored, I've kept off here today mostly. It will sort itself out in the coming weeks.
Next important thing to look out for will be UKAS accreditation of the Q32, the final stamp of approval. I forsee no issues with this an expect this to happen in a month or so's timeframe.
The second phase of the DHSC contract will come IMO, just not as quickly as was envisaged, thats not surprising given the teething troubles, which have been resolved.
As I've consistently stated, Q32 isn't a bespoke covid analyser, other testing panels are in development already.
This pandemic is not over by a long chalk, its going to require a battery of vaccine, testing, tracing and social distancing measures etc, just to get this latest spike under control. Add to this the constant mutations, which will need adapted tests most likely for identification and god forbid more vaccines.
We need in the UK especially to take the fight to covid. A key requirement for this will be identifying localised outbreaks quickly, this will play to Q32 strengths about being more of POCT type of machine.
Investing in the AIM isn't for the faint hearted, nothing is guaranteed.
DYOR, GLA

I'm still in and holding firm.
The company still has good fundamentals and plenty of optimism for the future from me.
I stated in one of my very first posts, not to be disappointed if the numbers for NHS testing were on the low side.
There were issues initially with the workflow, sufficient to prevent a quick roll out/ramp up.
A solution was devised rapidly and in field testing of the solution was undertaken in London Labs to ensure that it was fit for purpose (I also stated this in follow up posts)
It passed with flying colours and promate has started hitting the 'streets' now and has resolved the problems.
I would expect now usage to ramp up considerably over the coming year.
The application areas for the Q machines is massive and is a step away from large centralised testing labs, which is what is going to be required, in addition to current testing, if we are going to get ahead of covid.
The suggestion that this will all be over soon because of the vaccine is rubbish.
The markets seems to be all over the place atm, I still think this is a solid company, based on good science that has worked through its issues and now has all of its ducks lined up for a bright future.
For me this is still a strong hold, im ignoring most of the guff on the BB today most of its a load of noise.
Dyor

@ShaunP, no this is using dry nasopharangeal swabs. Pooling atm is probably going to be more of a hindrance than help at the moment given the prevailing levels of Covid, thats not to say it won't be used in the future.
I've got no info for whats happening at Cambridge atm, sorry.

From the horses mouth " its p1$$ easy to use now"

Problem resolved

They could put in the back of a van and go round all the local schools probably get an average sized school done in a few days, less if they pooled samples

Jimmiymcdee
!!!!!F F S , Gave me a shock then dude. Lol

Thats made me feel a lot better, now quite heavily invested, seeing a sea of red, having a wobble but staying firm.
GLA

The Samba has a rate limiting factor of 1 sample every 90 minutes, so thats about 7 samples in an 8 hour shift.

Aside from the massive high capacity analysers that are for laboratory usage the Q32 is really the only serious contender. The PROmate system us now reaching/reached the other hospitals.
There's no need for safety cabinets as first stage is dry swab into virus inactivation reagent. Thereafter, very very simple process, v high sensitivity and specificity 30 samples in 90 mins.
There is nothing that comes close to it, plus this is just 1 string to bow.
It lends itself to being mobile, applications for this globally are mind boggling. Not sure why the SP has dipped today.
I topped up on Monday, still hold/buy for me

1st of many I suspect, novyact are playing a blinder

I agree porky, there have been teething issues with the Q32's initially.
If you scratch the surface a little there were far too many intricate, skilled steps. I'm not talking about the IFUs but the pre prep of reagents and controls. In a v busy general hospital lab, they didn't have the time or resources to work thru this when they were faced with an avalanche of samples. These are just the hard facts. To their credit primer design took this feedback on board and developed PROmate to overcome these issues, its been trialled in the London labs, proven to be effective and will now be distributed. The Government is already heavily invested here, there were issues early on, they have been resolved quickly. I personally can see no reason now why an extended roll out won't happen.
I've divested myself of some long term holdings and added to my holding on novyact.
As I've said before, Covid is going nowhere for the foreseeable, novyact has set out its stall to cover a wide range of scenarios, plus they have a platform that can be used for a host of other issues. It's a usable, highly versatile analyser, its not solely linked to COVID. Primerdesign have already proven their agility. I'm expecting a bit of a rocky road post results but I'm in for the long haul.

Covid is with us now forever

The nudge was only 1 sample per hour, plus not v accurate, not surprised it's been pulled. Initially it was anything that could help, we've moved beyond this now. More evidence that things are moving to higher capacity more accurate tests. All plays into Q32s favour IMO

@porky
Thank you for your comments, I appreciate your compassion. I think its been a little obvious from my posts that I am, or rather was a biomedical scientist, I worked in the NHS for 17 years. I still have many friends who still are in the profession. I think that gives me a reasonable insight as to whats happening on the ground as it were. I've been challenged for evidence about my postings which I won't give. My personal experience and intel from colleagues influences my opinion, but its nothing more than my own personal opinion.
I think your valuation long term for this company , >5yrs is actually quite conservative, I hope they don't get swallowed up by the main protagonists.
Being agile and responsive is going to be key for companies involved in this field. Bloated mega companies with layers of bureaucracy will fail in this sphere. Again all just my opinion.
Take or leave anything I say.
Kudos to ShaunP btw, he is bang on the money with his research.
Good luck all

@Hartlebury
Thank you for your kind words. I'm not even entertaining the other comments. I really shouldn't have posted my message at all, just trying to stress what it is we are dealing with.

Bit of an odd message I suppose but I've just found out that a very good friend of mine has just died from COVID. He was 48, 3 young children and a single parent.
He had no co morbidities, fit as a fiddle and as strong as an ox.
He was admitted to hospital a week ago and now he's dead. He was from a BAME ethnicity. I'm really not sure why I'm sharing this other than to remind us all that money isn't the be all and end all and how serious COVID is.
Apols x