Member Info for raharh

This is Paul's (Walbrook) explanation of the end of the MoU

When the MOU ends the Company can either choose to renew the MOU or move to a more formal agreement, which is what we expect.

MHRA self-use approval would apply for the test across all of the UK-RTC members.

There is no MOU with the Government. The UK RTC are seeking to establish a supply agreement with the UK Government. It is only when the terms of this agreement are researched that it will be clear what options the UK-RTC will have to commercialise the test beyond that supply agreement.

Re-reading the MoU Paul is correct there is no MoU with the government - re-reading the RNS it was between the four companies and Oxford University so that was a misunderstanding on my part.

All. Got a response back from Paul at Walbrook.

You will see that the article has been corrected online. Omega have had initial discussions with Avacta but it is premature to say they will be working with them. Should Omega and Avacta sign a manufacturing agreement then we would issue an RNS on behalf of Omega.

So they are talking but no agreement is in place.

MB - i dont think anyone has said one is better than the other. I think it is an unexpected addition to the stable for Omega, nothing wrong with that. We all seem to be violently agreeing that Omega is well placed whomever produces the tests so lets keep perspective. The current SP was supported pre-the article and will be if the article is not correct. If the article is correct then it can only be better for the company to have an additional channel to ensure profits are maximised.

I suggest we all chill - revert back to the civil board we enjoy - we are all invested in a great company.

Not sure about the excitement - it is more about the possibility of another test in the stable to manufacturer. Diversity in your manufacturing portfolio is a good thing. Mologic Antigen test is not ready yet and neither is Avacta's - both have major backing and different links (Mologic to Africa - Avacta to US). It is just good business and I think that is why people are excited, we are invested in a share that has many many strings to its bow and this is another. I dont quite understand what is not to like about it (if of course it is validated as true)

Merchant - I dont mind being the manufacturer for all the tests as long as we build sustainable capacity so no issue if this is true. It is not Omega against Avacta - if we are going to manufacture then we all gain.

I think it may well be valid because of the way it is reported:

"The firm is working with three UK manufacturers to make the tests: BBI Solutions, Abingdon Health and Omega Diagnostics."

This isn't a journo making up the third company when the other two were known - possibly 'working with' means they are reaching an agreement to manufacturer as opposed to having one in place which I would agree would need an RNS. Possibly that is the reason for no RNS but I certainly dont want to 'not work with Avacta' if we can grow capacity.

I am sure Walbrook and CK are now receiving several inquiries to clarify.

Clive - I agree - said that when it first came out. Intraday - simultaneous on both shares? Hopefully they are now running around getting it prepped so as to underpin the rise.

I refuse to get a 3rd speeding ticket!!!! That would put us on the bubble for a driving ban :-)

Mologic x 4
Avacta LFT
RTC
HIV WHO supply
Food Intolerence China approval

We are seriously going to need a bigger boat, at this rate my £1.80 target feels in need of serious revision.

if they have signed an MTA or contract with Avacta would that not merit an RNS? Surely that is price sensitive - it was RNSd for Mologic?

Thank's Red - hopefully the supply agreement will be close enough to negate an extension to the MoU then.

Merchant - the one thing I am not clear on is what happens when the MoU expires. If there is no government contract in place and the MTA has already taken place then can Omega then commercialize and sell independently? This is more around the conditions of the MoU and expiry so I do not think it is an item for an RNS but more a process / legal question.

I would expect the government contract before the MoU expires but as we are only days away now it would be good to understand, do you have any clue? I think I may pose the question to Walbrook as it would be good to know if this is a strength or weakness of our position.

So first part of the week was terrible for all. Threats of a lockdown again, new restrictions and the majority of shares fell. We have recovered to almost 80 which hopefully will continue to be a solid platform until the next RNS.

I am slightly concerned about timescales for MHRA approval reading the website. Whilst I would like to think this is urgent and will get pushed through we are talking about the Civil Service here so I would prefer a food allergy / India order RNS next week if possible.

I would suggest that it cannot be used in offices with a CE mark - needs MHRA approval - back to the superdrug tests that went on sale. At least it shows (1) we have the best test and (2) there is a market for private use that all other suppliers are seeing but we should be best and first in the UK (and then on to the rest of the world!)

Hopefully we will get the 500p as requested - it would suit us all.

This is the direct link

https://www.thegreenoffice.co.uk/medikit-u2122-rapid-results-covid-19-antibody-test-kit

jayejordan - i just received a marketing email campaign from them about 15 minutes ago. 15 minute antibody test - trying to see who is behind it as it is termed for the workplace - i.e. personal use not professional use.

Company is 60% owned by PIs. Smelled aside the board and IIs are sticky so it is PIs that create the volatility whether they are trading or panicking. If they don’t sell there shares then the SP would rise, looking at the trades it is PIs offering the opportunity to the MMS and as the SP falls more panic. Makes me wish there were more IIs and less PIs involved. Doesn’t matter now, just waiting for news and I also believe that £1 to £2 will be where we are at, although some will still moan then!

Sorry, slight correction, Boris could help scare the markets in to a further sell off after the speech, most of which is telegraphed and the market is currently flat, so it will be an interesting last hour.

Yesterday was a bit of bad day all over and not many winners. I dont expect anything from Boris to help today, we really just need MHRA and sales of other tests now to move this along.

Only reason for yesterdays drop was general market and potentially the release of some more of Snellers shares. According to WallStreet there are 11% of shares in II hands - but that includes Sneller and 59% in PIs hands - that does sort of indicate that a lot of the selling is from the PI community though.

Every day we get volume the shares move to stickier hands as they start from a higher base so hopefully we can recover to the 80s this week and await the next RNS.

Before I started my fledgling share dealing hobby in April I had never heard of a tree shake ..... and before I knew what one was I would panic and it lost me some money.

To the worriers in this share (or any other fast moving AIM share) I would say chill out and ensure you have researched the fundamentals. We were at all time highs last week and that is just the beginning.

MB - couldnt agree more. We are probably heading for another lockdown of sorts and the virus is taking hold again unfortunately. If we would have had an MHRA approved Antibody test back in April / May I am not sure people would have understood the importance. Having one in September / October will be huge for Omega.

The Mologic tie up is, and has always for me, been the hidden gem that people do not focus on. An LFT antigen test by Christmas (10 - 12 weeks away - and it goes quickly) will be huge for the public confidence both in the UK and internationally.

The media and general public are now resolved to no vaccine this year and the world is big enough for more than one supplier.

There was a news article at the weekend that said manufacturing capability worldwide was 2bn per annum and everyone would need at least two shots. This will be with us for another 12 - 24 months yet.

After a good week last week and a good week this week (14% up this week with no RNS ?!?) the board has returned to normality and a lot of arguing. Nobody on this board should really be in negative returns now unless you bought in the 90s where the SP has been momentarily, in which case you are in a normal cycle of starting a few % behind.

We need not to keep banging on about MHRA approval instead of looking at these other tests as we are awaiting on Antibody Test approval for public use and a lot of these tests are Antigen Tests - which we dont have yet but Mologic is working (see Politico article previously posted). Compares Apples with Pears - both are needed. It is obvious that we are the furthest down the road with a home use antibody test.

We closed at 53.5 two weeks ago, we will not close there today - even if we close at 80 (cant see it) then thats c.50% in two weeks.

Approvals and sales will move at the pace the move at, no company slows these things down whether they are listed or not and approvals are out of their hands.

As just about everyone is in profit - you can exit if you are really not happy - the worse case anyone can be at is a c.5% loss and if you really do not believe this will continue to climb over the next month or so then why wouldnt you put your money elsewhere.

MHRA on the way for RTC test
2 x Mologic tests will be in MTA and hopefully CE marked in next three months
Chinese Food Allergy due for sign off
HIV test now on the WHO list of approved tests for FY21 budgetting and it is needed

DYOR - but whilst everyone is getting annoyed with 'today's SP' remember the 50% increase in two weeks and all this without the above, some will be in anticipation I am sure but Finncap still had a bottom valuation of £1.80 without RTC which seems in sight now and I for one am prepared to wait a few more months as I dont see any other Pharma stock that can provide me with 100% - 200% returns in that timescale.

Chill - its Friday!