There have been a few comments relating to updates on websites.
Websites can be updated off-line with the updates not posted or made live. I suspect updates have been made but they are waiting a coordinated publication after 4th January 2022.
The Avacta LFT (approvals, production and sales) is big news and we would not want this major news to go unnoticed during the holiday period. Still think there will big be news next week.
Happy & Healthy New Year everyone. Stay Safe.
4th January 2021
Very little is going to happen in the 3 business days between Christmas and the New Year.
The restart of manufacturing, update of websites, distribution of LFT’s and business RNS statements will come from 4th January 2022 and onwards. Stop fretting, relax and wait a few more days. Go get some fresh air and walk off the Christmas excess.
Remember, patience is a virtue.
Avacta - Daily Mail
https://www.dailymail.co.uk/money/markets/article-10336691/MARKET-REPORT-Just-Eat-moves-grocery-delivery-One-Stop-deal.html
@Apre - Well Said!
LTH’s invested long before we knew about Covid and LFT’s.
LFT’s news has not landed yet but it will come.
Avacta Diagnostics are not just for Covid.
There are a lot of innovative scientists working at Avacta.
If no BIG news before Christmas, stop reading this board and relax.
Many things to come in 2022. Enjoy the festive season.
Wishing you all a Very Merry Christmas
and a
Happy and Healthy New Year
Read you in 2022, ……..
https://maps.test-and-trace.nhs.uk/
Nothing Available!
We ordered LFT’s this morning to be collected from the local pharmacy.
https://www.gov.uk/order-coronavirus-rapid-lateral-flow-tests
Just been to collect the tests and joined a queue with 20 others. No LFT’s available and there will be no LFT’s available until the New Year.
Omicron numbers increasing. No LFT’s available from government’s sources. Meanwhile, Avacta have a best in class LFT along with manufacturing capacity. How ridiculous is this going to get before CTDA and HUA approval?
Disgraceful, outrageous, scandalous, criminal, … are just some of the words!
RNS
2nd November 2021
"Avacta submitted, ahead of the 1 September 2021 deadline, all the information required for its AffiDX® test to be validated under these regulations by the UK Health Security Agency, and the Company has paid the required fee. The Company awaits further notification from the UK Health Security Agency when it completes its review of the information supplied for the AffiDX® SARS-CoV-2 Lateral Flow Rapid Antigen Test".
It has been at least 16 weeks. Expected anytime now?
Source:
https://avacta.com/update-on-uk-availability-of-affidx-sars-cov-2-lateral-flow-rapid-antigen-test-following-implementation-of-ctda-regulations/
Following on the gadgie post below:
Novartis has a market cap at £180 Billion and has a Big Pile of Cash.
Novartis sold it’s stake in Roche for $21 billion this month. The sale has given Novartis the financial firepower for a transformational deal.
Some of the drugs that were supposed to drive growth have failed in clinical trials, run into safety issues or been delayed. Among the setbacks are canakinumab, a would-be lung cancer drug that failed in trials this year.
https://www.bloomberg.com/news/articles/2021-11-18/novartis-has-a-big-pile-of-cash-and-investors-demanding-action
November 18, 2021,
Posted by gadgie:
Out of 18 companies Porges's team looked at, 12 are expected to have more than $20 billion in cash by the end of 2022 when excluding existing debt. Even after factoring in debt, Porges expects Pfizer, Moderna, Johnson & Johnson, Novartis and BioNTech to have net cash of more than $20 billion.
https://www.fiercepharma.com/pharma/m-a-large-biotech-pharma-companies-will-have-1-7t-firepower-for-dealmaking-2022
anies-will-have-1-7t-firepower-for-dealmaking-2022
@Poirot
Good find. Having done the research, question.
Can the individual exercise their option to buy and sell on the same day? Buy at £ 0.855 and sell at £ 1.10 and pocket £ 31.5K profit pre-Christmas or do they have to hold for a minimum period of time?
There have been two positive RNS statements in the past 2 weeks. Both have been detrimental to the share price. LTH’s see a fantastic future with Avacta but will be disappointed by the current share price movements.
CTDA HUA for LFT’s would be positive but may see the share price stall again?
Another RNS today confirms a switch in auditors.
Is the share price being deliberately suppressed to allow an acquisition at a bargain price?
29 Nov 2021
Avacta Announces FDA Approval of its Investigational New Drug (IND) Application for AVA6000
https://avacta.com/avacta-announces-fda-approval-of-its-investigational-new-drug-ind-application-for-ava6000/
15 Dec 2021
AffiDX® SARS-CoV-2 antigen lateral flow test detects the Omicron variant
https://avacta.com/affidx-sars-cov-2-antigen-lateral-flow-test-detects-the-omicron-variant/
15 Dec 2021
Change of auditor
https://avacta.com/change-of-auditor/
Two UK manufacturing companies (ABDX and ODX) who have worked with the DHSC have been very poorly treated. Both companies have seen a significant drop in their share price value as a result of DHSC relationships.
Perhaps AS and Avacta are right to focus on overseas sales of the Avacta LFT rather than deal with the DHSC. Any business with the DHSC should be treated as payment with order. No credit available.
Meanwhile, focus on LFT sales in Europe, Asia and the US.
Sources
9 August 2021
Abingdon Health and DHSC
https://www.abingdonhealth.com/news/clarification-regarding-factual-inaccuracies-judicial-review-proceedings/
The Government has substantially refused to pay Abingdon Health for the goods and services provided under the contract. The Company has outstanding invoices with the DHSC totalling £6.7m (including VAT), including £5.15m (including VAT) for the 1 million AbC-19™ rapid tests which were delivered in early January 2021.
10 December 2021 09:30
OMEGA DIAGNOSTICS GROUP PLC - DHSC contract update
https://www.lse.co.uk/rns/ODX/dhsc-contract-update-lwawpsrhnlcv2gm.html
Omega provides an update in relation to the Company's contract with the Department of Health and Social Care ("DHSC") to provide manufacturing capacity for COVID-19 lateral flow antigen tests.
Omega has received confirmation from the DHSC that they acknowledge that the contract expired on 1 October 2021 and a request that Omega submit a proposal for the repayment of the pre-production payment of £2.5m (net of VAT).
Two UK manufacturing companies (ABDX and ODX) who have worked with the DHSC have been very poorly treated. Both companies have seen a significant drop in their share price value as a result of DHSC relationships and demands.
Perhaps AS and Avacta are right to focus on overseas sales of the Avacta LFT rather than deal with the DHSC. Any business with the DHSC should be treated as payment with order. No credit available.
Meanwhile, focus on LFT sales in Europe, Asia and the US.
Sources
9 August 2021
Abingdon Health and DHSC
https://www.abingdonhealth.com/news/clarification-regarding-factual-inaccuracies-judicial-review-proceedings/
The Government has substantially refused to pay Abingdon Health for the goods and services provided under the contract. The Company has outstanding invoices with the DHSC totalling £6.7m (including VAT), including £5.15m (including VAT) for the 1 million AbC-19™ rapid tests which were delivered in early January 2021.
10 December 2021 09:30
OMEGA DIAGNOSTICS GROUP PLC - DHSC contract update
https://www.lse.co.uk/rns/ODX/dhsc-contract-update-lwawpsrhnlcv2gm.html
Omega provides an update in relation to the Company's contract with the Department of Health and Social Care ("DHSC") to provide manufacturing capacity for COVID-19 lateral flow antigen tests.
Omega has received confirmation from the DHSC that they acknowledge that the contract expired on 1 October 2021 and a request that Omega submit a proposal for the repayment of the pre-production payment of £2.5m (net of VAT).
4th August 2021
https://avacta.com/update-on-affidx-sars-cov-2-antigen-lateral-flow-test/
Avacta started shipping their CE approved LFT in August 2021.
We continue to wait for CTDA and HUA approval, however, with the current CE mark and LFT performance, the Avacta test should be in massive demand.
Why would we not be shipping LFT’s in volume? Even at 500K units per month, 2m shipped to date with additional capacity coming on stream.
As posted earlier today, better to sit next to someone knowing that you have both tested negative rather than both being fully vaccinated but possibly both still carrying and spreading the Covid virus. Testing is important.
LFT’s offer a low cost and reliable method of testing. With 98.0% Sensitivity with 99% Specificity, the AffiDX® SARS-CoV-2 antigen LFT is one of the best.
@Retireby40
All good points.
With Covid numbers on the up, and restrictions coming back, an accurate and reliable LFT is desperately needed. Surely LFT’s under review should be being fast-tracked?
Avacta / Medusa have done their bit. Just waiting others which is very frustrating for all.