Member Info for redboy33

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

Good Evening,
Following Mologic presentation last week I sent the following question to Walbrook:
QUESTION:
Good Afternoon Paul,
The attached link suggests that Mologic have (or are intending to) confirmed Design Freeze on the Lateral Flow Antigen test. Perhaps I am misunderstanding this as the slide (10 minutes into presentation) mentions combined antibody and antigen, so perhaps not the one mentioned by Colin in last presentation. Can you clarify?

https://www.youtube.com/watch?v=tpp8g6L5oT4

Regards

I received the following answer this evening:
ANSWER:
Thanks once again for your patience and just to reiterate that Colin has been very busy last week preparing for the investor presentation and then dealing with the high volume of questions submitted from investors.

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.

Just thought I would share.
ATB
Red

Noticed that there were 2 large £125k sells yesterday at 11.46. Placing shares? Anyone have a view? I suggest the positive is that they are now absorbed.

Hi Fredd1eboy,
I subscribed this morning and I may be a bit slow but can you explain why the 7 MM's all seem to show the same volume? If I look on LLOY'S it all makes sense you can see all the o/s orders. I asked LSE and the lady did not know.
Thanks
Red

Thank you for sharing JS. Have added mine below:

Question 1:

"I would first of all like to express my appreciation to the Omega team for all their incredible efforts both as an investor and in the fight against CV19.

The questions I would like to submit are as follows:
1. I anticipate that following the call on Wednesday (presumably including an update on increasing capacity) Finn Cap will be in a position to issue an updated Broker Note indicating significantly higher (based on developments and expansion since their previous) potential SP (even if this is in the form of low to high range). Please confirm
Question 2:

2. Can you advise how Walbrook’s performance is determined? Are their formal measures they have to adhere to?

Vascular,
I can confirm, that as stated by Safy the 97.7% is MHRA compliant. I checked with Walbrook and suggest if you are still not comfortable you e mail them too.
BR
Red

Hi Symbo1,
Yes you are right......I just liked the idea of ODX being in the news all weekend as I got more and more drunk:-).
I'd also like to see some RNS/s advising more II's onboard because as you say we will no doubt see a lot of selling into the rises.
ATB
Red

No Problem.
Yes that is my hope, preferably in a monster RNS released at 16:31 this Friday!
ATB
Red

Good Morning raharh,
With regards to MOU I asked the question to Walbrook last week.
Q. "The MOU is due to expire on 9th October I believe? Presumably there will be an RNS before then to confirm extension or Govt agreement?"
A. "You’d either see an announcement either confirming the renewal of the MoU or a formal agreement that would replace the MoU, yes."
BR
Red

MB, thank you for your posts.
You raised question that we did not know about the resource position (i.e. were they manned 24/7). I enquired last week about this directly in relation to the investor presentation.

Q. "The presentation also shared information regards the use of the placing funds to grow capacity. While it is extremely helpful to have volume data it would also be useful to understand the resource position. For example was the production data based on a full and even 24/7 shift structure (i.e. the site will be operating at maximum resource capacity), or is it possible the Night shift is not manned fully and the site closes on Sunday?".

A. "The production capacity data is based on 5 day a week 12hr shifts (7am-7pm)."

This may have changed now in view of the weekend twitter post but at the time of the presentation (which I believe your forecasted sales post referred to?) this would suggest the potential to significantly increase production by increasing shift spans and/or weekend shifts albeit taking 3 to 6 months to recruit and train. Thus sales increase (subject to orders) and reduced CPU/improved profit.
ATB
Red

I asked the following question last week about II's and include the answer below.
Q. After the presentation we were invited to submit questions. One I asked was whether any company activity is being undertaken to specifically attract new institutional investors? With L & G reducing their holding this week it reminded me of what I consider to be an important consideration in growing the SP.
A. In terms of attracting new institutional investors, a number of new institutional investors were introduced to the Company as part of the marketing by their institutional broker ahead of the Placing and Open Offer. finnCap continues to focus on educating institutional investors on the ODX investment case and as I’m sure you’re aware produce regular research on them which they market to these institutions.

Re. L&G, it’s worth pointing that the most recent Holdings in Company announcement was as a result of the finalisation of the sale of L&Gs Mature Savings business to ReAssure. The ODX shares have been transferred as part of that process and are now no longer held by L&G. However, these are still managed by L&G Investment Management so you can see from section 9 that LGIM still hold the voting rights (6.00%) so there has been no significant change in holding.
ATB,
Red

Good Evening MB and thank you for your posts.
I understand the shifts are only 0700 - 1900 and 5 day week, which would suggest significant potential to increase.
I think we need to be considerate that if they were to look at increasing resource it may well take 3 months to recruit, train and I don't know what the infrastructure is like for e.g. housing and people re-locating.
ATB Red