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I agree. Poor journalism. A firm rebuff is an option for graham. Don't give up that potential knighthood too easily graham!
Up she comes now.
Can't believe I can buy more shares at 1.80. Massive top up at these levels.
Unbelievable.
Correction: Should read 9 day moving average not 50.
I'm not sure it will dip to 50p again.
The daily chart looks bullish. The SP has crossed the daily 50 day moving average, the MACD is now moving positive and with an RSI of 30 this points to it being oversold.
Countries will need to plan to replace potentially infected bank notes as part of the COVID19 recovery process. DLAR are positioned to benefit here IMHO.
No advice intended, DYOR.
GLA
I disagree. The market liked the update. These are not normal times. Esports could fill the void. Gfinity have an opportunity.
The previous sell down to 0.3p was because the market thought they could go bust. From these accounts that's unlikely now for the next 6 months of the " C19 lockdown period". Gfinity now have the opportunity to tap into this huge demand for esports and have demonstrated they are capable with F1 virtual grandprix last week and the #challengelando experience this week. I'd expect the May-July F1 races to also be cancelled which means Gfinity could extend their current agreement and also run these virtual grandprix's. They have this agreed already as a back up plan with F1. The grand national is also now virtual and is due to be aired on the BBC this weekend. It's not unreasonable to think F1 could follow suit in some capacity with Gfinity to potentially access those mass audiences. There's a chance that this weekends horse racing exposure could wet the investor appetite for esport companies like Gfinity.... It's a new ISA year next monday, most investors are at home, virtual sports suddenly in the spotlight. You can see how the interest most evolve over a short time period for the share price to rise.
Due to the limited trading time at the end of the day once the RNS was released, we had the normal spike ( to 2.1) and then consolidation at around the 1.75 level giving those who bought lower down a chance to hop off and new punters to hop on. (I also suspect that there are not many left who have not cashed out from lower down)
I'd personally expect to see it rise. Previous resistance was around the 2.3-2.4 level which is where i'd see it shortly without further news, higher next week if i'm correct on some of those aspects. With monetary generating news...Who knows..
I think they've limited the downside today. The upside is yet unknown, however there is serious potential if they get it right. They'll have one chance i feel.
GLA
I'd guess the sell off yesterday was to avoid the interim results hence the 30% fall..I think investors now feel that the interim results are priced into the SP. We already know the outline numbers so there shouldn't be any negative surprises..
A good CEO would have buried all the bad news. Why drip feed bad news? I suspect the interim accounts could have an upbeat nature to them in which case the SP will jump back up. IMHO
M C, [31 Mar 2020 at 09:10:37]:
#DLAR FTSE250 COVID trading statement this morning.
PE circa 2. Forecast profit (still) 25M. MCAP 54M. Deduced debt. Restructuring review prior to Covid. Literally prints money (paper and plastic forms for governments), ID, passports worldwide. Possible upside/future demand is worldwide cash/money needs burning and replacing with covid free money when this C19 business is over. 66% down in last 6 weeks. Early recovery this am. DYOR
I'm In...Anyone joining me?
Another UK manufacturer
Doubling eruo manufacturing capacity to 4milion per month
Purchased materials for 18 million tests
This seems to be without USA or Argentina really getting on board.
Going to fly today
I've been researching this share for a while now and decided to dip my toe in the water. It looks like there are circa 4 potential winners in the portfolio. The most exciting for me is Leap and it's virtual games/esports offering. There are others also.
In the current coronavirus climate I think that esports has a real opportunity to fill the void for those at home social distancing. Current coronavirus related stock has gone through the roof. Once that blows over i'd expect investors to look for "virus associated" stock. Leap would tick this box. Money and the herd could be here soon I suspect.
Cash in the bank, no debt and plenty of news from the portfolio looks good going forwards.
The SP chart looks to have formed a "double bottom" on the 20th and 24th March which I use as a bullish indicator and hence my entry today.
Just my thoughts. DYOR.
GLA
US FDA Emergency Use Authorization for COVID-19 diagnostic test
COVID-19 RUO test receives approval in Indonesia
Paris, France and Camberley, UK - 23 March 2020 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in clinical diagnostics, is pleased to announce that the US Food and Drug Administration (FDA) has issued an Emergency Use Authorization (EUA) for its COVID-19 test. As a result, hospitals and laboratories in the US will be able to use the test for clinical diagnosis of COVID-19. The test is available for immediate distribution into the US market.
Primerdesign, the Company's molecular diagnostics division, launched the COVID-19 test as a research use only (RUO) test on 31 January 2020 and as a CE-Mark test on 17 February 2020. The benefits of the Primerdesign test include:
· Proven high performance characteristics
· Provides results in less than two hours
· Being lyophilised (freeze-dried), it is stable to be shipped at ambient temperature
· Can be used on multiple ubiquitous clinical laboratory instrument platforms
The Company is also pleased to announce that its RUO COVID-19 test has also been approved by the Indonesian Ministry of Health, which opens another new market for its test.
Graham Mullis, Chief Executive Officer of Novacyt, commented:
"The US FDA EUA authorization is another important endorsement of the performance and quality of our COVID-19 test and demonstrates once again Novacyt's growing role in tackling this pandemic. We are committed to providing clinicians around the world with our COVID-19 test and delighted we can now support the US market."
About Emergency Use Authorization Status
The Primerdesign COVID-19 test has been authorized by the FDA under an EUA for use by laboratories certified under the Clinical Laboratory Improvement Amendments of 1988 (CLIA), 42 U.S.C. § 263a, to perform moderate and high complexity tests. The test has been authorized only for the detection of RNA from SARS-CoV-2 virus and diagnosis of SARS-CoV-2 virus infection, not for any other viruses or pathogens. It is authorised for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of in vitro diagnostics for detection of SARS-CoV-2 virus under section 564(b)(1) of the Act, 21 U.S.C. § 360bbb- 3(b)(1), unless the authorisation is terminated or revoked sooner.
Regarding the appointment of a UK and US OEM manufacturer hopefully for someone in the industry to answer.
From my understanding, NCYT has appointed a European OEM company which should produce, stock, distribute and support customer orders to the region of circa 2 Million tests per month. If the OEM is responsible for the production, then shouldn't they be responsible for procuring "test raw materials"?
If so, then who uses the raw materials for 5 million tests referred to in the last RNS? Is this for Primerdesign to use in house or another manufacturer? Could this be for production on top of the OEM capacity? Or simply to be passed onto the OEM for use?
I wouldn't want to be out of this one over the weekend....
Are you in 9inchkn0b?
But which test? Test test test
https://twitter.com/PrimerdesignLtd/status/1240934704481742849?s=20
Now they wouldn't send prospective customers to look at another COVID test from a different provider would they? My interpretation of this cryptic message is that this points to the fact that they have not one but 2 COVID tests. You are already aware of the PCR RNA test that has 9 million quid in sales. My money is on the test you don't know about yet. That'll be in the RNS on tuesday, the day after the RNS for the new FDA approval on Monday ;-).....(wishful thinking)
Novacyt are not a one trick pony and are a broad clinical diagnostics company. I've wagered some of my money that they will shortly be releasing a 15 minute immunoassay test that can be used to test saliva to indicate that you have recently been infected with COVID. Simple, cheap, throw away, no blood required, no pharmacist required, easy to produce and distribute. Perform at home... It would fill the 250K tests a week that Boris is after and will augment the current genesis test.
Now you may think this is pie in the sky and that i'm chasing rainbows. Alternatively, after some research, you may come to the same conclusion, that as they do this type of test already, then it wouldn't be unimaginable for them to target COVID instead of the many other viral pathogens (including the influenza virus) that they already have this product for.
https://microgenbioproducts.com/pathflow/#1568996087520-8a95c379-6ba4
An educated guess...
Profit takers appear to be out now. SP moving up rapidly. A weekends worth of news to come, FDA potential on monday. I wouldn't want to be out of this over the weekend.
Oh...And possible news on the 15 minute ncyt antibody test to come next week to the portfolio.
Good point. In the case of a UK lockdown, the UK would need a land based manufacturer to service the needs of the UK. Could this imply that there is a massive increase in Uk testing from Ncyt to come?
Backs up what he said on the BBC yesterday. Sales going ballistic. 5 million test is 40 million worth of sales.
Keep going NCYT.
I've just listened to Graham Mullis being interview on the BBC. https://www.bbc.co.uk/sounds/play/m000gd2p from 2:15 onwards. It's worth a listen. Key points for me quoting graham are:
We are supplying to over 60 countries around the world.
We are providing significant volumes to all over the world.
Our test is one of the fastest tests: 2 hours from swab to result.
Are you in overdrive trying to keep up with demand? Yes.
We are investing significantly in manufacturing capacity to deal with the pipeline of demand that we see in front of us today.
Oops.Correct chart gap link here
https://twitter.com/Cele7tial/status/1240212812808491009
Gap has now been filled at 115p
https://twitter.com/Cele7tial/status/1240212812808491009
A quick top up for the brave for the next leg up to 156-182p
GLA