Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Imo FDA/CE approval will be fast tracked and land by the end of June then tests will go on sale in July
From the Q & A last week
UK (and probably US) govs aware of AVCT's LFTs
- LFTs to be produced in the hundreds of millions. In talks with multiple manufacturing partners
GabrielOak
Do you do any research
Ceo 9th June
The next step in the development of the final product to run on the installed base of mass spectrometers in clinical laboratories around the world is to evaluate and optimise the BAMS assay using patient samples at laboratory sites in the UK and US which will be done imminently before moving to manufacturing, clinical validation to quantify the sensitivity and specificity and CE/FDA approval for professional use in the summer.
Reported, 5 reports and admin will remove him
https://uk.investing.com/news/stock-market-news/london-stocks-open-lower-on-fears-of-second-wave-of-infections-fed-outlook-2138880
Total cases of the novel coronavirus in the United States cases surpassed 2 million on Wednesday, according to a Reuters tally.
The Fed projected the U.S. economy to shrink 6.5% in 2020 and signalled it plans years of extraordinary support for an economy facing a long road back from the COVID-19 pandemic.
Avacta - Hundreds of millions of tests will be needed for population screening", the only way you can get through that volume is through speed
AVACTA rest will be so crucial for the end of lockdown and keeping tabs on a potential 2nd wave pandemic.
I think countries will want to stockpile the test in case there is a 2nd or 3rd wave. If a 2nd wave starts it will be too late to get hold of the tests so I can see Governments being
Myles on twitter
For me, this successful development of the BAMS test will now underpin a major chunk of #AVCT's mkt cap (or more than it) throughout H2, regardless of all of its other activities. That is based on the assumption that it could be generating monthly royalties of $10m to $20m. 7/10
Avacta Appointment of Dr Eliot Forster as Non-Executive Chairman
Dr Forster brings over 25 years of experience in the pharmaceutical and biotechnology industry, most recently leading Immunocore as Chief Executive Officer to become a world-leading immuno-oncology biotech, raising over £230 million in equity and non-dilutive funding as well as securing partnerships with AstraZeneca and the Bill & Melinda Gates Foundation. 11/6/2018
https://markets.ft.com/data/announce/full?dockey=1323-13673668-53VC3M8F7VABV4JN4I3E4EMD0O
Firstly, the user downloads the app and enters key information such as name, address, age and verifies their identity using their fingerprint or a facial scan.
They then take a Covid-19 test, administered by an authorised healthcare professional, and the results are scanned into the Covi-pass. They can then use the digital health passport to authenticate their health status to enable “a safe return to work, life, and safe travel”, particularly for critical care and emergency services key workers.
However, a significant shortage of coronavirus test kits could make testing a challenge. Nevertheless, VST believes the technology could be key to ending the lockdown.
“We firmly believe that the digital health passport alongside government-approved testing kits is the key to removing the lockdown restrictions in a gradual and controlled way. The current technology being trialed using bluetooth and proximity apps is fundamentally flawed because of its privacy issues of real time tracking, the security and data breaches which we are already seeing and being reported and the reticence for citizens to uptake and download the tracing app,”
https://www.verdict.co.uk/vst-enterprises/
“I am delighted to report that the placing has received overwhelming support from both institutional and retail investors leading to a bookbuild that was multiple times oversubscribed,” Avacta CEO Dr Alastair Smith.
“I would like to thank our existing investors and welcome new shareholders to Avacta. We are very pleased to have added a significant strategic US investor to our register,” Smith said.
Guidelines for CE/FDA approval
NYCT 31st launch of their coronavirus test
17th Feb launch of a CE-Mark approved nCoV test
7th Feb Novacyt seeks Emergency Use Approval from US FDA for
23rd Feb US FDA Emergency Use Authorization for COVID-19 diagnostic test COVID-19 RUO test
Avacta said tests would be ready to go on sale in July, so now we now test strips have been developed, next step emergency Fda approval, June is going to be a huge month for Avacta.
"As previously announced, Avacta has entered into an exclusive global distribution agreement with Medusa19 Limited ("Medusa19") for direct-to-consumer sales of its newly developed saliva-based rapid test for the COVID-19 antigen, subject to regulatory approvals."
So the saliva-based rapid test HAS been developed - now just waiting for approvals.
Good to know the Chairman has worked with the Foundation previously
If a a tie up between AVCT and the Foundation lands that would put a nice rocket under the SP.
I couldn’t see Gates wanting to miss out on this groundbreaking technology
Big week ahead, multiple news due & could see multiples of the SP
Results from Adeptrix and Cytiva Imminent
GLA
Myles tweet yesterday
Worldwide testing will only increase as the LFT technology becomes available. And I see very little risk from here for #AVCT in the commercialisation process of its own #COVID19 LFT.
More than ever, I see AVCT attaining a billion pound mkt cap in the not too distant future.
RNS 6th May 2020
Following a post-period end £5.75 million fundraising the business remains well capitalised with a £10.5 million net cash position as at the 30 April 2020.
No placing required, Avacta have £10mil cash fully funded till 2021
Read the past RNS’s
Look forward to news
Checked the time stamps and yes they are buys, bodes well for news.Looks like it was all about mates rates today buying in before the ground breaking news
Shame for those who sold
£3 4th June
To stretch beyond the lab, test developers are racing to produce next-stage technologies that could allow for rapid widespread testing as quickly as an at-home pregnancy test.
OraSure Technologies Inc., of Bethlehem, Pa., said it has a contract with the Health and Human Services department to develop a rapid Covid-19 antigen test called a lateral flow assay. It uses strips to find viral proteins in oral fluid taken from between the gums and the cheek. The test is based on technology already deployed in the company’s HIV self-test.
The lateral flow assay strips, similar to a home pregnancy test, look for viral antigens in saliva or a nose swab and are one of the major technologies companies are exploring. These tests are different, though technologically similar, to rapid antibody tests, which look for signs of past infection in a small sample of blood. Antibody tests, however, can’t diagnose a current infection.
Last month, the National Institutes of Health announced a competition meant to speed up development of diagnostic technologies, with the goal of millions of rapid tests a week available by the end of summer, and more by flu season. The Rapid Acceleration of Diagnostics, or RADx, initiative, often compared with the TV show “Shark Tank,” will provide finalists with up to $500 million and technical, business and manufacturing expertise.
Over 1,700 groups have registered, more than 280 have applied, and 40 have advanced to a “deep dive” review stage. Bruce Tromberg, director of the National Institute of Biomedical Imaging and Bioengineering at the NIH, which is leading the initiative, says he is expecting five to 10 finalists to emerge.
https://www.google.co.uk/amp/s/www.wsj.com/amp/articles/race-is-on-to-create-rapid-covid-19-tests-for-the-fall-11590494400
£2+ tomorrow imo nobody would want to be out of Avacta over the weekend.I think we will see an RNS on Tuesday.
Avacta CEO confirms that "we have a very exciting disruptive technology which we absolutely knows works." If all goes to plan Avacta could feasibly be a FTSE100 constituent this year.
So if all goes to plan what’s everybody’s thoughts end of year for the SP ?