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Good Afternoon,
Just sharing an email exchange with Walbrook and fully appreciate that some may not agree with position but I have a significant investment and while I believe there is great potential here I am very disappointed about the minimal/inconsistent communications
Question 20/04/21 16:47
“Obviously it is disappointing over the last few weeks to experience a continuing decline in SP and I am sure many investors are concerned there has been little news from Omega. I appreciate that their position might be that there is no new news to currently give and as soon as they will have, they will immediately release an RNS. However, I respectfully suggest that investors will feel that news about “Food Detective” was released significantly after ODX indicated (albeit this was due to CV19 in China), MHRA ABC Home use approval still o/s versus an indicative approval in August (again appreciate this was/and is not in ODX’s control) and TT of Mologic Antigen December/January. So whereas 2 of the 3 mentioned are outside ODX’s control surely it is a better policy to be proactive on Comms and each month provide an update on all o/s projects/initiatives even if it is, “no change” to the previous period, as it would at least serve to give reassurance to shareholders that all is well just taking a little longer because of xyz and thus avoid investors having to pester yourself for information?
Sorry I know you will probably be receiving many comms from investors but just think more regular communications from ODX will make life easier for all.”
Response 21/04/21
“It’s just simply not possible to provide the regular update on progress that you suggest, unless they have something to say. RNS announcements are not designed to provide a running monthly commentary on what has or hasn’t progressed. RNS announcements are issued when something of materiality has happened and if there is no new news to update on the Company isn’t going to put out an RNS saying that there is nothing new to update on. Obviously if there is something significant to say they will say it and I can assure you that we are encouraging the Company to provide updates when they can – we don’t invent the news nor can force it to happen. We can only communicate when the Company has something to say. Suffice to say I’ll happily pass on your feedback to the Company.”
My Reply 21/04/21
“Thank you Paul. However, the main point of my e mail (and I suspect the concern of many) is why there has been consistent failures to achieve milestones communicated by the company or at very least to provide updates as to why these milestones have not been met? Everyone can accept (yes we might moan about it) projects can be delayed (in my experience they often are) but to be silent (and see a 30% drop in SP in recent weeks), in my experience is not a good policy and I respectfully disagree that providing updates when milestones have failed is most definitely worthy of news and an RNS.”
ATB
Re
NP. I topped up again today and thought I'd done great at 77p! Well tomorrow is another day!
ATB
Red
Hi Benny,
I don't actually know him but I follow ODX on Twitter and at about 1750 he posted his e mail question and Paul's (Walbrook) response and virtually identical to mine that I received about 1800. I'm sorry I cannot reproduce here but similar to what I posted earlier on LSE. I haven't noticed Neil posting on Twitter before and dont think he is a regular but might be wrong. I replied to him that I had received similar reply from Paul.
ATB
Red
Good Evening Tricky,
I asked a similar question last week to Walbrook and received the following response:
"Regarding the RADX initiative with Mologic – the self test mentioned is not the test Omega is working on."
Apologies for not sharing this earlier.
ATB
Red
Good Evening,
On Wednesday I asked the following question of Walbrook....
Question: "I am becoming a little concerned at the constant drop in SP (along with some large sells at end today). Could you just confirm that all is on track for completion of the TT and commercial launch of the VISITECT LFT in April for sale to professional users? "
I received a response this evening which seems consistent to one posted on Twitter this evening by Neil Henshaw
Answer: "In terms of Tech Transfer Omega announced in March that the Company has received CE marking for the test - this means that the process of technology transfer has reached the stage that the Company is satisfied that they are able to reproduce the test to scale to the specifications laid out in the technical files submitted for CE marking, which is positive news. The process is ongoing but the next key milestone is when the product is launched by Omega for sale under their own brand (which surpasses completion of the tech transfer in terms of meaningful news). Nothing has changed in their expectations regarding when this will happen. As you know they have not given a specific date for when the launch will happen so all I can say is that an announcement will be made in due course."
Please note the delay in response from Walbrook is my fault as Paul was not available and I didn't copy in the PR address.
ATB
Red
Good Evening Fb,
Yes it would seem that way. I hoped there may have been some tweeting to acknowledge/comment (just my opinion) but suspect there may be some news next week
Have a good weekend.
Red
I posted on Wed. 17:26 regards the lack of comms. (in my opinion) and have reproduced the e mail below and the update I have received today (from Walbrook) to the first question.
“Q1: Today I understand ABDX have received news from the FDA that their ABC Rapid Test has gained trademark approval.
https://uspto.report/TM/88896035/PB320210406025659/
Q2: In addition Mologic have confirmed their test has been selected for the @NIH RADx program. Possibly this is an indication that the UK government will name this as their preferred test.
Will ODX be tweeting any comments regards either of these news pieces?”
Walbrook response today to Q1 ……… “I have heard back from the Company regarding your first question.
Please be advised that the TM and logo were accepted but not yet registered.
I will endeavour to answer the second question early next week.”
To be fair (regards Q1) I had probably misunderstood and does not (now) seem that significant news really and maybe Q2 might need input from CK.
Have a great weekend and hopefully we all have a fantastic next week.
ATB
Red
I contacted Walbrook yesterday to enquire whether ODX would be commenting (via twitter) as to the news regards FDA confirming ABC Rapid Test trademark and Mologic confirming their test had been selected for the @NIH RADx program (I also added a comment that presumably in the latter case this might indicate the government’s preferred test).
Paul is on holiday but I was advised that my question would be forwarded. I had not heard anything by 1541 today so chased up and advised nothing yet and will respond when they have an answer.
Having tweeted in regards the newspaper headlines I (perhaps foolishly) thought the news yesterday would have warranted a comment/tweet but perhaps my impatience is getting the better of me and there will be something official tomorrow. If I receive anything directly I will share.
ATB
Red
Good Evening,
Suggestions today of shortage in vaccine availability
https://www.msn.com/en-gb/news/coronavirus/uk-to-face-significant-reduction-in-covid-vaccine-supplies-from-29-march/ar-BB1eGzWP?ocid=msedgntp
I had my first jab last Tuesday (AZ) and whereas I have my second appointment confirmed in May I have suggested to my neighbours (I am an NHS volunteer) that they should try and secure their second vaccine appointments asap as I expect to see my appointment postponed/cancelled due to availability of vaccine and/or new/updated govt strategy to introduce antibody testing in order to ensure the (potential) limited vaccine stock is prioritised to those that require it, just my opinion.
ATB
Red
Good Evening,
I have not been monitoring L2 today but there are 2 MM's (CFEP and SCAP) on the ASK at 0.37p. I assume form Yanis' post there were possibly more earlier and once these 2 have sold what they hold the ASK will move up.
Apologies if I have misunderstood the question.
Red
Good Afternoon,
Have to confess, while I can kind of accept the delays with Food Detective (impacted by CV19 in China) and MHRA (ABDX is lead not ODX) I am less comfortable with delays with Mologic TT and emailed for an update to Walbrook today. I have posted response below.
"The process is taking a little longer than Colin’s original estimate at the outset but is progressing well and the Company has no concerns."
"We look forward to an update in due course."
ATB
Red
Good Morning,
I support the views BigJock has posted regards Finncap but I’d like to offer another consideration regards this broker.
Some months ago MB kindly shared a projection of where he thought the SP might get to if ODX could sell all they could produce. From memory he suggested this might be between £4.81 to £7.70 (based on a 5 or 8 multiplier) He backed this up with all his workings. This may seem high but even if you went with a multiplier half the lower range (2.5) it is very significant in a positive way. So surely this is important for Finncap to promote?
Since MB’s projection other posters on LSE and twitter have done likewise. I have posed the question a couple of times (to Walbrook) why can Finncap not publish a broker target? Apparently they just don’t have enough information? You might agree and there are certainly many variables but, and maybe I’m just an awkward individual, but I don’t accept the argument. All forecasts are just that, a prediction based on the best information you have at that time. As long as you set out your workings and the assumptions you have made I’m sure most people would say that is reasonable.
Can any investor recall a situation where a broker has offered an SP target for the next 12 months and then when a year has passed they happily announce that the SP did in fact achieve what they predicted? I cannot honestly recall in 12 years any broker successfully forecasting a company’s SP. To be fair it is difficult to do. So I come back to my point, why are FinnCap, apparently, so reluctant to do so? I believe this is important as I imagine if Finncap produced a brokers note presented in the manner MB did, it would reach new investors and perhaps lift the SP 10%, or at least smash 99p! In my opinion they seem a long way from wanting to promote all the excellent work Colin and his team are undertaking and it just seems very odd to me.
ATB
Red
Good Afternoon,
I have contacted Walbrook and confirmed this is not true, unfortunately, anyway I'd like 2Bn;-).
"The page doesn’t exist but I am aware of someone who has created an image that looks like a bidstats disclosure but is fake."
"The Government haven’t posted the Contract Award Notice yet."
ATB
Red
Steve777/Mikethai, no problem, your welcome:-).
Symbo1: I agree. I think the SP will be aggressively moving up prior to RNS.........my preference (please Colin).......1635 Friday 12th RNS and all weekend to hit the news and an SP explosion on Monday:-).
Good Afternoon,
I emailed the following 3 questions today to Walbrook and received the responses ("A") and just sharing for information. Nothing new really but perhaps confirms feedback I think others have shared on BB/twitter:
1. As I recall Colin advised that he expected the Mologic TT to have completed either as a ‘Christmas present’ but more likely early New Year ‘gift? Has there been a problem? I appreciate that this can be a complex process but as we are approaching the end of March I am concerned there has been no official update.
A. Mologic Tech Transfer – there is no problem and this is still progressing. We don’t have any more information to update on the process. Obviously when there is news we will announce it.
2. MHRA Home use ABC test: Could you advise if Abington are still working with the MHRA to gain approval for home use? When I listened to the Webinar given by Chris Yates (admittedly just my opinion) he seemed to be playing down the significance of this (home use) and seemed happy to just promote the professional use channel. I understand they are also still liaising with the FDA for approval in USA?
A. MHRA home-use – the last update we have from Abingdon Health was from their Interims where they said: “In addition, Abingdon Health continues to work towards the approval of AbC-19™ for home testing in various jurisdictions” – we don’t have any further information or news on this.
3. I understand it is the responsibility of DHSC to publish details of the contract awarded to ODX by close of play tomorrow, Friday 12th March (albeit they have not always been complying strictly with such deadlines). Have I understood correctly?
A. DHSC public disclosure – it is our understanding that this information needs to be published within 30 days, but this is not a process that Omega has any control over.
ATB
Red
Thanks Tricky,
I know its been said before but I'd like to think we may see a TR1 for an I.I. soon
ATB
Red
Recommend looking at their web site.
Have added their "Covid19 Services" tab.
https://screen4.org/about/#
ATB
Red
Good Morning Greg,
Thanks for taking the time to share your forecast.
I think line 2 should be £6.656 not £66.56?
Wish us all a good week
ATB
Red
PART 2
I would like to take the opportunity to highlight one part of the report when considering the global shortage of available vaccines and the understandably well received gesture of the PM to offer surplus vaccines to poorer nations. Importantly the report stresses……”The initial data from the study being performed at the University of Birmingham supports the rationale that vaccination programmes could benefit from determining an individual's antibody status not only after vaccination but also prior to vaccination Should these results continue to be seen in further studies, and with other vaccines, this demonstrates that the AbC-19 TM antibody test could potentially assist in patient stratification and resource management in overburdened international healthcare settings.”
As an NHS Volunteer myself I would be grateful for reassurance that the government/DHSC are fully aware of the enormous benefit this UK ABC Antibody test offers not only in utilising vaccines only where necessary (i.e. it determines a person’s need for a vaccine by establishing if they already have anti-bodies) as part of the current vaccine roll out (including offering a degree of ‘understanding/status’ of those who have decided to decline the vaccine) but also the vital means with which to fight this terrible pandemic over the coming years. I understand the DHSC are in negotiations to secure the supply of this test for the duration of this pandemic and will be relieved for confirmation accordingly.
Best Regards