Member Info for Scharnhorst

Omega are bit players with bucket chemistry and a machine that knocks out bits of plastic. They have no intellectual property for this test and are reliant on others. After design freeze the test will still need PHE approval and even if it achieves 98% accuracy it will not match the performance of the blood draw tests. No news either on the Mologic test, for which Omega are also bit players with no IP, and that was submitted for approval in April. If you're buying at these overhyped prices you've been sold a pup.

The government has gone with lab based antibody tests as they’re more accurate. Just waiting for UK results.

Have you read the Mologic tweet? 97% sensitivity and specificity doesn't meet the UK government criteria so it will join their also rans.

Mologic's test doesn't achieve the UK government spec 98% accuracy so can't be used here but will go to poor countries. Good PR for Omega but hardly loadsamoney.

The announcement from Roche of 100% accuracy with their antibody test is what the world has been waiting for. The rest can forget it if they can't match it.

They’ll only be providing them if they’re approved which will take weeks. And that’s if they’re the first in the world to achieve 98% specificity or better. The risk is to the downside imo. There is already 40p priced into the share for the success case. Watch out for a momentum trap.

It's on the Scottish Government website about the expanded testing programme - they will be doing 500 antibody tests a week for at least 16 weeks.
That doesn't seem much.

Just watched the Scottish Briefing. They’re going with fairly low level antibody testing for the time being, carried out over the next 16 weeks and using extrapolation to get a bigger picture. No fireworks until an approved test for individuals covering the whole population is available, ie the point of care test being developed, hopefully by July. A sell for traders but a hold for the patient imo.

So humans can develop immunity to a virus? I'll sleep more easily tonight.

Not sure Sir John Bell will appreciate the scoundrel Hopkins trying ro steal his thunder though ;-)

To paraphrase he said the lab (Elisa) test being developed with Mologic is fine and will be in use shortly.
The point of care test needs more work, incremental improvements rather than one big leap.

Back to bed then.

Sorry to disappoint you tricky but Mologic are building their own manufacturing unit. Omega will manufacture tests for Mologic until it's ready.

Mologic are going to manufacture tests I thought Omega would be manufacturing so that news this morning was unexpected. Mologic presumably have the IP. It’s a nuisance when you’d like to buy shares in a company that isn’t listed.

Mologic will be manufacturing tests on a not-for -profit basis. How can Omega compete with that?

I have just sold some to be fair. You have to take account of new information.

OK, positive for Mologic but it says it's a separate legal entity so the new manufacturing facility is nothing to do with Omega.

Is that a buy then?

About 2.5m in late reported sells yesterday. No wonder we had a little pull back. Back on the front foot today.

The research is rubbish anyway as it’s HIV they produce tests for. The operation that produced tests for the infectious diseases named was sold a couple of years ago.