Member Info for RevoltingPeasant

Looks like the MMs had had their fun. Were down by 6p after the ODX RNS but now back to where they were - bid/offer 117/120.

Just got an Email from PB. Got 90% of requested allocation (5000 reduced to 4500). Therefore assume it was oversubscribed by 10% by the time the offer closed at 9.30? Or did anyone else get different percentages?

Just had a message from Primary Bid - offer is closing at 9.30. Suggests good takeup!

I'm in too. However, be aware allocation may be scaled back.

When I looked at Our World In Data yesterday, it showed Germany testing 2.74 people per 1000 population and a positivity rate of 17.3%. For the UK, the figures are 13.6 per 1000 and a positivity rate of 4.6%. On the basis that the more you test, the more cases you find (DHSC says at least 1 in 3 is asymptomatic) this suggests to me that the situation in Germany is hell of a lot worse than the raw positive numbers show.

I think the buy at 4.30 may be a delayed reporting from mid-morning, when the ask went to 111p around 10.30. Either way, it shows someone is confident

MB53. Can you provide a link for your statement, please? I've just looked at the Medical Devices Regulations and - without reading every single para - note that "CE marking will continue to be recognised in Great Britain until 30 June 2023" (https://www.gov.uk/guidance/regulating-medical-devices-in-the-uk).

Interesting thoughts, MM. My interest was piqued by the comment at the investor presentation on 30 September that they had established a "global headquarters for the therapeutics division". Why just the therapeutics division? I wondered then - and still do - is this a precursor to separation of the two divisions, enabling one to be sold? Based on AS's usual emphasis on therapeutics, which is where I think we all see long term value, my thoughts are that the diagnostics division was the more likely to be sold.

Bombdog ... in the results presentation on 30 September CEO Smith specifically mention making direct sales to "large corporates, travel industry, testing services, elite sport". If not Assured Screening then there will others also listed in due course.

EGTP ... I'm always happy to have a rant; it's good for one's mental health. However, is it fair to say that the UK is the "covid hotspot of Europe"?
According to Our World in Data (a brilliant website for any data nerds out there), the UK tests 12.25 people per 1,000 population. Using the same dataset, I calculate that the main holiday destinations in Europe are testing only 4.37 per 1000. The individual countries range from 1.03 in The Netherlands to 10.27 in France. It is trite but true to say the more you test the more cases you will find. The number of positive cases found is 4% in UK and averaged across Europe (ex UK) it is 5.71%.
By my maths, the UK positive rate is thus .49 per 1000. For Europe it is .25 per 1000. However, if you gross up the number of tests in Europe to the equivalent of what we test in the UK (a factor of 2.8), the true equivalent figure would be .70. So where is the covid hotspot really?
Other than that, thumbs up ... it's long past the point at which the government needs to get a grip!

Thanks Mr A. Thought this might be something new, not something from February.

Investor110 - I've had a look at The Lancet website, but can't find the article. Could you post a link please. Thanks

Something happening. I can sell any amount on HL, but can't buy even the smallest quantity.

Well done. Will be interested to see their reply in due course. Perhaps all holders with school age children could do likewise!

Hope we don't have to wait for the half year results due latter part of September. And those results will only be to end June, before LFT sales began. Maybe there could be something under the heading of post period events, if we have not heard anything before.

Analysts have suggested the company could be priced anywhere between £4.5bn and £16bn, putting it among the most valuable floats in the City's history and coming as a boon for the LSE, which has been desperate to attract more biotech leaders.

In March, chief executive Dr Gordon Sanghera said: “We believe that an IPO is the start of the next phase of our journey.
“Gaining access to deeper, international pools of capital would support our growth plans, enhancing our ability to innovate and scale our manufacturing and commercial functions. 2020 was a pivotal year for us.

“However, it is clear to us that we are still only in the foothills of what is possible.”

Despite the government contract ending early, Oxford Nanopore expected revenues to keep rising this year, with indicative growth of more than 80pc in its life science research tool division in the first half. It said it already had other contracts agreed that suggested further revenue growth over the course of the next 18 months.

It comes after a stellar year for Nanopore, which also makes DNA sequencing tools that can track Covid mutations and which have been used for a fifth of all Covid sequencing globally.

Revenues last year hit £114m - more than double the £52m for 2019. Even stripping out the Covid bump from last year, Oxford Nanopore's revenue was up 26pc compared to a market that contracted by 7pc.

Losses also narrowed in 2020 by £11m to £61m despite spending heavily on a new high tech manufacturing facility.

A spokesman for Oxford Nanopore said: “We developed LamPORE, a scalable, gold-standard performance Covid test, in the early stages of the pandemic. It was clearly good news as we went into spring 2021 to see the requirement for Covid testing in the UK was much reduced.

“We continue to provide technology around the world for Covid sequencing, in addition to our core business of sequencing in a range of applications including human, cancer, plant, animal and environmental genomics.”

A Department of Health spokesman said: “The UK is now a testing powerhouse, with over 240m tests conducted which has helped stop the spread of the virus and save lives. Our collaboration with industry continues to be a priority and we are hugely grateful to all the manufacturers and suppliers who have offered their assistance in the production of Covid tests.”

Link works OK for me. I'll try to post the tesxt:

Britain's brightest biotech firm, Oxford Nanopore, has been dealt a blow after the Government ended a £113m contract for its Covid tests early despite deeming the tests “life-saving innovations”.

In filings on Companies House, Oxford Nanopore said the Department for Health had decided against taking all the Covid tests it had agreed to buy.

Oxford Nanopore did not disclose how many tests the Government had signed up for, but ministers paid £113m for the kits, suggesting a significant order size. Part of the order was fulfilled.

Oxford Nanopore's 90-minute tests use saliva to tell whether someone has Covid and do not require swabs, making them easier and quicker to conduct.

In the depths of the pandemic, Oxford Nanopore's tests had been deemed a “life-saving innovation” by then-health secretary Matt Han****. Last August, he said the tests formed a key pillar of the UK's efforts to "break chains of transmission quickly" by providing on-the-spot results for people in care homes and hospitals.

However, Oxford Nanopore revealed that, in April, the Department for Health determined that it “no longer had a requirement for our product”, as the vaccination rollout meant fewer people needed testing, and ended the contract before taking delivery of all the tests.

Britain's brightest biotech firm, Oxford Nanopore, has been dealt a blow after the Government ended a £113m contract for its Covid tests early despite deeming the tests “life-saving innovations”.

In filings on Companies House, Oxford Nanopore said the Department for Health had decided against taking all the Covid tests it had agreed to buy.

Oxford Nanopore did not disclose how many tests the Government had signed up for, but ministers paid £113m for the kits, suggesting a significant order size. Part of the order was fulfilled.

Oxford Nanopore's 90-minute tests use saliva to tell whether someone has Covid and do not require swabs, making them easier and quicker to conduct.

In the depths of the pandemic, Oxford Nanopore's tests had been deemed a “life-saving innovation” by then-health secretary Matt Han****. Last August, he said the tests formed a key pillar of the UK's efforts to "break chains of transmission quickly" by providing on-the-spot results for people in care homes and hospitals.

However, Oxford Nanopore revealed that, in April, the Department for Health determined that it “no longer had a requirement for our product”, as the vaccination rollout meant fewer people needed testing, and ended the contract before taking delivery of all the tests.

The deal would have provided a major boost to Oxford Nanopore's revenues ahead of its blockbuster London listing expected later this year.

... continued below

Article in Telegraph today, "Blow to Oxford Naopore after ministers end Covid testing contract early" - https://www.telegraph.co.uk/business/2021/08/09/blow-oxford-nanopore-ministers-end-covid-testing-contract-early/.

Any views on the implications of this for AVCT, if any, apart from the obvious thought that the government is an untrustworthy business partner?

Treetop - agreed. All of this is more ****-up than conspiracy in my view. And the main blame must lie with the civil service. Selection used to be by competitive exam and only the very best were hired. Today, it strikes me any incompetent can get a job in Whitehall, elected or appointed! It also seems to me that the current crop of senior civil servants are institutionally anti-government, being on the opposite end of the political spectrum from those who the country elected. A recipe for chaos.

Rant over; the sun's shining; let's enjoy the weekend.

I have also had a reply from my MP. Not the usual copy & paste, but much the same message:

"Dear ****,
Thank you for taking the time to contact me.
I appreciate your detailed concerns. I can assure you that after US FDA’s warning, a full risk assessment was undertaken by DHSC and the MHRA undertook a thorough review to ensure that they were satisfied with the assessment and any action proposed. Following what the MHRA has described as a satisfactory outcome of the review, Exceptional Use Authorisation was extended to 28th August 2021. While I appreciate your concerns about these tests, I am satisfied that they have met the necessary standard and share the Government’s confidence in these tests and the process they have gone through. Therefore I do support the exemption. That said, I will raise your comments in my conversations with Ministers.
Thank you again for contacting me.
Best wishes"

She is newly elected. She'll soon learn!