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Good Afternoon Chuggley,
Your very welcome.
I take the comment from Walbrook, "Omega only had agreement from Mologic to announce what they did today and within their results statement not as a standalone announcement." very positively. Again, in my opinion, it sounds like ODX have wanted to confirm its all systems go on the Mologic Antigen Test and now its just a matter of when (we are producing and selling vast amounts) and not IF:-).
ATB
Red
Good Afternoon,
I contacted Walbrook this morning after JAdam posted that TT had commenced, specifically as I assumed this would warrant an RNS in its own right, the response I received is below:
" In the statement this morning the Company confirmed that has now established its technology transfer team and Colin confirms in his presentation that the process has commenced.
Omega only had agreement from Mologic to announce what they did today and within their results statement not as a standalone announcement."
So my understanding is that TT has commenced and soon (in my opinion) we will get an RNS.
ATB
Red
Completely agree JG.
JBER (MM) have been very active last 2 weeks and to best of my knowledge today is first day they have been almost inactive and FCAP same, so maybe a TR1 RNS inbound.
ATB
Red
Excellent post thank you. However, I would argue that silence is never good when things are not going well (SP fall over last few weeks). I appreciate that there may be little of material value (or new news) that can be announced but in my experience just to hear the business reaffirm all is good and we continue to welcome news of more vaccine treatments as that will provide excellent, additional opportunities, would perhaps at least calm and reassure.
Thanks
Red
MB, wish you would speak to Colin about taking over the company PR!
Good Afternoon Smishman,
I sent the (below) e mail yesterday to Walbrook as sick of poor comms.
If I may, the only other point I would add is that in my opinion Finn Cap should be/have produced a new Brokers Note to reflect the exciting growth and I would suggest they support it with a bar chart (like in Colin's presentation):
1) 1st Bar for 2021 and bar colour coded to reflect different product streams and revenue/profit value mainly I expect CV19.
2) 2nd Bar 2022 same principle and still would expect CV19 dominance but growing Food Detective share in China and maybe Food Print in USA
3) 3rd Bar 2023 start to show (perhaps) slowing down of CV19, growing Food tolerance products and possibly start of 2 new products they said they aimed to be developing.
E Mail below:
Thanks for your e mail.
As I type the SP is down 2.65% and half what it was only a few weeks ago. I feel the communications from Walbrook/ODX are far too few and too reactive/late. I am not going to write again after this message as frankly the responses I receive give me no confidence that Walbrook/ODX care whatsoever about their investors.
We have been impacted by two vaccine announcements and lacked the real punchy and enthusiastic communications embracing this news and using it to our advantage as well as (thereafter) continually ‘putting it out there’ that we welcome Astra Zeneca (and any others) as our tests will be required to test before and after. CIGA announcement looked great and tagged by Walbrook but not ODX. Indeed today it has been mentioned about the lack of activity on the ODX twitter.
I say again why do we hear so little from our Sales and Marketing Director, Jag when so much is on the horizon.
I take what you say about the possible legal case but cannot help but feel this is linked to the overdue MHRA approval, although even if that came now, frankly I’m not convinced it would boost the SP. This brings me back to a point I have raised several times before, Institutional Investors!:
1. Where are the ones that oversubscribed for the last (debacle) of a placing? Surely now at such great prices they should be increasing their holdings and TR1’s in the post. In reality they probably have reduced or even sold all their holdings a long time ago.
2. What has Finn Capp (I assume their primary responsibility) actually done to attract new II’s? the SP movement of the last few weeks underlines their importance. There is clearly far too many short term investors/traders proportionately.
3. Sneller has gone but are his shares still being sold by charities? Are L & G out or still selling? I know another investor raised the question why could Finn Cap not find a buyer for Sneller/L & G.
ATB
Red
I would not say that ODX are the exception in terms of being poor at communication but certainly one of the poorest (in my experience/opinion).
An example I would offer is that why wait for AZ to announce they have a vaccine why not communicate/promote the fact now (and keep doing it) that ODX welcomes any vaccines because their tests will be required and to underline the fact we are increasing our manufacturing capacity 10 fold.
And just while I am getting this off my chest is it only me that is surprised that we so rarely hear anything from our Global Sales and Marketing Director, Jag? I would have thought with all we have in the pipeline he would be on the ODX Twitter page at least every week?
First time i have laughed today! Thank you
Checking the price range this transaction 32,604 went through at 10:54 was 45 - 46 so this was actually a Buy
Interesting buy at 46.95 at 1020 (range 42 - 44 at that time) for 400k shares
Good Afternoon Matt,
I asked a similar question to Walbrook:
Question:
"The MHRA application is what I believe most investors are disappointed with as there are no actual reasons given for the time (are questions being asked on the data/under resourced etc.) but when (as per my e mail) top scientists state 3 weeks more to assess Pfizer data and then 2 weeks (beginning of December) to fast-track and add to that Han**** yesterday suggesting vaccines available in December it poses the question why and how a vaccine should have priority for a test already approved for professional use and presumably relatively straightforward compared to giving assurances of side effects to a vaccine?"
ANSWER:
"I think you’re asking me to comment on why a vaccine might be given priority over home-use of the UK RTC’s antibody test by the MHRA. Given that Abingdon are in dialogue with the MHRA on this approval process the Consortium have been very careful not to make any public statements or provide commentary on the process and so I can’t really answer that question."
Not very helpful I'm afraid.
Checking through the Q & A (at least to Q184) MHRA seems to be the no.1
ATB
Red
Good Afternoon Bagpu55,
Not sure if your post was addressed to me but if so, no I did not ask if Mologic was included in the 50.
ATB
Red
Just to add.
One of the key points I keep reminding myself is about the (substantial) capacity increase taking place..........my previous role was that of Ops Director and I had a very strict Finance Director (hated the ba&5$d:-). If I had said to him I want to increase our warehousing capacity 5 fold and kick out some paying customers into the bargain, I would have had to have given him some incredible cast iron guarantees as to how I would fill that capacity:-).
ATB
Red
Good morning Genericname,
Thank you for your response.
Not exactly, I posed the question to Walbrook and while they stress this list will not be exhaustive (i.e. more will be added to the 6) the 6 is likely to include those that are ready to be deployed immediately and Mologic test is still under development and hopes to be approved for use soon. Therefore, my understanding from that is that they do not expect to be included, yet.
I am a very impatient person and thus why I keep asking questions, but, am just about managing my patience (with help of extra alcohol allowance) and have not sold/derisked any of my holding.
As I said I hope I am wrong but suspect I will need to be patient a little longer (and keep drinking).
ATB
Red
Good Morning,
It is my understanding that it is unlikely that Mologic/ODX will be part of the six (hope I am wrong!) as I believe it is those tests that are ready to be used now, but as mentioned by other posters this is not an exhaustive list and continue to hold for our time to come.
ATB
Red
Unfortunately at same time as the drop started today where I live there was also a power cut and couldn't get the bl@*dy alarm to stop! Anyway I dropped a note to Walbrook as to what was going on and received a response below:
"The Company has taken advice from its NOMAD and it is not going to release a regulatory announcement. The reaction to the Pfizer news for all COVID-19 associated stocks has been extreme to say the least and Omega believes it is in a strong position with opportunities for both antigen testing and antibody testing. The race to produce a vaccine was always well known and even with the availability of vaccines COVID-19 testing is going to be paramount. In the case of antibody testing in particular the UK RTC believe they will be instrumental in assessing immune response and determining when antibody levels are no longer effective (please see a tweet released by the company today).
ATB
Red
No problem.
That was my understanding (wrongly!) that, that was what they were doing but I failed all sciences at school so certainly no expert. I'm just trying to manage my impatience and hope they advise approval next week!
In the meantime just pleased the SP showed an improvement in last 2 days.
ATB
Red
Good Morning,
I received a reply back from Walbrook last night advising that Mologic (and thus ODX) were not involved in the Liverpool trial: "Mologic are not involved in the Liverpool trials as their product hasn’t as yet been CE marked".
I also had enquired if they were involved were they testing the Antigen test or the combined Antigen/Antibody test as mentioned in the recent Mologic presentation?
https://www.youtube.com/watch?v=tpp8g6L5oT4
Response as follows:
"Regarding a new combined antigen/antibody test, I think some people have misunderstood a presentation given by Mologic. They aren’t developing a combined test, what they said was that from their studies they are working on a combined antigen and antibody testing strategy which looked like a very encouraging way to identify patients. In other words use both an antibody and antigen test. "
ATB
Red
I asked Walbrook earlier today and will post their reply.
Thank you for sharing MB.
I have contacted Mologic twice since that presentation but no response and probably wont get one. I also contacted ODX/Walbrook who stated, "We’ve now been able to get confirmation from Colin and his colleagues on your antigen test questions and Omega are certainly aware that Mologic are in the final stages of completing the development of the lateral flow antigen test – with the next stages being design freeze and then CE marking (by Mologic). We can’t confirm exact timings unfortunately. Omega would then need to commence technology transfer and CE mark this separately under its own brand. Colin has previously stated that this is something that could be before the end of the year, or if not in the early new year.
The slides you have sent them seem to refer to a combined antigen and antibody test. Omega has no agreement over this and has not had discussions about this potential test, although that’s not to say that future discussions might not take place."
Probably just me but can't help but sensing a 'calm before a (positive) storm' today.......hope so anyway.
ATB
Red