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If Avacta are out of the UK supply, I actually think they are duty bound to shareholders to come out fighting against the UK Gov or explain to shareholders why the best test in the world is not being purchased by the UK Gov.
It's one or the other. As shareholders can we do anything to force the issue here?
There is definitely something in this. If Avacta had been binned again for cheap Chinese trash and Avacta knew that was the case I really don't think they would sit back silently and accept it, not after declaring that AFFIDX is one of, if not the, best antigen test in the world.
Avacta must feel that they are still in the running to supply the UK Gov or they would be publicly briefing the media/public showcasing the data / performance of AffiDX vs Innova.
SC, thanks for your challenge. Different opinions make a discussion.
Yes, sceptical! A higher risk premium on the LFT success is clearly being applied since 280p a couple weeks ago.
At sub-20p in early 2020, the share price had been beaten down by the Woodford fund forced sell-off, the need for additional funding and dilution was priced in, and the market was not sceptical about commercialising the LFT, the market wasn’t even aware of it yet! The company was in survival mode, with a massive pipeline of opportunities from which it didn’t have the cash to advance more than one lead drug candidate at the time.
Since then:
- The £48m raise has secured the finances through to at least 2023, has allowed the whole development pipeline to be accelerated, and has enabled the hiring of top talent to bolster both diagnostics and therapeutics divisions.
- LG Chem have deepened their collaboration with Avacta, a real vote of confidence in the Affimer platform for therapeutics, and source of up front payments as well as potential future royalties.
- They have a licensing agreement with Point for PreCision radio-therapeutics, giving external validation of the PreCision platform as well as source of payments and potential royalties.
- Numerous external partnerships and licensing agreements have been signed, further validating the Affimer platform and offering royalty opportunities, research costs and milestone payments: Biokit, Astraea, Deepverge, Daewoong/AffyXell
It’s reasonable to look for companies to compare to, but obviously not all clinical stage pharmas are equal so I find your comparison somewhat reductive. Lots of Phase 2/3 small pharma cos have a limited pipeline of drugs, with low to moderate chance of success. Whereas Avacta has multiple platforms, each validated externally many times over, and each with many shots on goal at markets with enormous value, all actively being advanced with the proceeds of last year’s funding. With all this, I don’t think it looks too punchy at £400m going into Phase 1 with its first self-funded drug trial.
On top of all the above, regardless of how much or little it sells, they have successfully developed a world-class SARS-cov-2 antigen LFT using Affimers, which they have just put on the market for professional use, with self-testing certification yet to come. This looks set to provide high profile exposure for the Affimer platform and a small windfall in the worst case, or massive recurring revenues for many years in the best case.
I listened to it first time, just curious to know if it has been edited
Anything different?
Great spot. Is that medusa 19 facility?
The Scottish are not in bed!
Come in AL, cheer us up please.
From the DHSC...
To increase UK LFT production capacity.
From the horse mouth, bojo.
If that is true then its very bullish for this stock!!
We should know within days of the first dosing whether the precision / Ava6000 has reduced the chemo toxicity. Side effects from chemo, and especially highly toxic doxorubicin, are felt strongly within 24 hours of treatment. Assume that if patient feels well (does no exhibit any negative chemo related side effects) after treatment we shall have our first clue regarding the likely success?
Couldn't they have just deleted / muted the reference to market cap (assuming that is even an issue)?
Well listen again to the business update and the most recent pointless webinar. If no sales forthcoming (this week) I'll be swaying towards misled.
AS doesn't strike me as a con artists so I'm still giving him the benefit of the doubt (for a few more days)
Has he miss lead the market?
Debate.
Has this been solved yet?? Why pull the video after posting on the website, twitter and also LinkedIn???
"This excellent performance and ease of nasal sampling, coupled with the fact that the AffiDX® test has been developed in the UK, is based on UK technology and is manufactured in the UK are huge selling points for customers in Europe."
Hint hint the Germans are incoming for AffiDX
Speaking with
@DHSCgovuk
this morning and being told to remove my account (which I won't be doing) Jamie Wallis at the DHSC has confirmed by phone that the UK Diagnostics industry will be getting a very big boost very shortly. He would not make further comment or expand on this.
Timster, circumstances here are slightly different. I think he has to talk about ease of use. I have kids and trying to use the brain tickler is shambolic. I think he also has to touch on accuracy as Joe Public are losing faith. We shall see but there is a strong case to discuss the above and if he does, why not give a shout out to the British tech that delivered it?
So big day tomorrow then with Williamson to announce testing at schools. Will he or won't he name the test as a new British test?
Very interesting. The odds on matching at 96.7 / 100 AN must be very low.
AS did disclose that we had been contacted by interested parties in Asia..
Also commercial director and bod member at omega liked the Delta news...