Member Info for SteveV

NCYT are the certainly the "premier league" of diagnostics within COVID. And they update us regularly to let us know that their tests, test for the latest variant(s). The tests evolve with the virus. Great.!

Not only have Innova's LFT's been shown to be inadequate in several circumstances, we also have no idea how they perform with newer variants. Do Innova publish any data on a regular basis? Are their tests (developed some 18months ago) still any where near accurate, OR, absolutely useless with the current (Delta ) variant.
Please let us know Innova...

Quite a big down day for AVACTA and ODX.
Is that a consequence from the Innova news. Tarred (unfairly, IMO ) by the same brush?

Have they got a test for hayfever??

Innova's website down.
No doubt they are making a few changes!
https://www.innovamedgroup.com/

Quite right. If the public lose confidence in LFT's in general as a consequence of Innova we may not see the uptake we'd like if/when superior LFT's become widely available.

I would hope the Gov would consider their options seriously now that alternatives are becoming available.

The Gov can probably cover themselves from repercussions by arguing that was the ONLY test available in the kind of volumes required.

I don't think there would necessarily be a huge financial penalty in cancelling Innova IF it turns out they have miss sold the product. (e.g. if it turns out to be not fit for the purpose that was claimed by the company)

I can see Innova's Welsh manufacturing plant getting cancelled.
Will the Gov really continue with them !!!?

It is clear there is a need for a quality RAPID LFT Antigen to supplement the the Gold standard PCR.
Different tests needed in different circumstances. BOTH have their place and are required.

Shame Innova's seems to be so inadequate.

If only NCYT were going to release a killer LFT antigen any time soon. !!!!!

Had my FINAL top up this afternoon at £3.34

Hey Tweliman, Good point, but you got to ask if that IS the case why would NCYT bother bringing out an LFT Antigen.

We know there have been BIG question marks against LFT's in general and Innova's in particular. In Innova's case IMO the Gov bought them more because they could supply huge quantities(from China) rather than quality.

One has to assume an NCYT LFT Antigen will no doubt be far superior in accuracy and reliabilty.(to Innova's)
The benefit of LFT's is their speed. NCYT are claiming 15minutes. A very fast very accurate test would be highly desirable and help pave the way for all sorts of fully opening up. (cinemas, theatres, concerts, sporting events...etc. etc.)

If you could take a VERY accurate/reliable test in 15mins before entering a facility that would be a game changer.

Innova are owned by a US investment company called Pasaca.

I can find no evidence that they are actively a research led diagnostics company. In fact they appear to be small fry Mickey mouse business who got VERY VERY lucky in their timing with the onset of COVID.

They managed(early on) to secure the world wide rights to the LFT test manufactured by Biotime Biotechnology, in Xiamen city, Fujian province.

What sealed the deal with the UK Gov was NOT the quality of the test BUT simply the QUANTITY of tests that Innova was able to supply. (that they simply bought from the Chinese manufacturer).

They claim to be the world biggest manufacturer of LFT tests. It would appear they just buy them in from China.
They have no expertise in diagnostics. Is this what OUR UK government is relying on?

https://www.theguardian.com/world/2021/jan/28/how-uk-spent-800m-on-controversial-covid-tests-for-dominic-cummings-scheme

Sounds like wishful thinking. Surely they are going to have to develop new vaccines to tackle new variants. Eventually the virus will mutate enough to be resistant to the original vaccines. Bit like the Flu virus vaccines.

Testing will remain crucial, especially the premium tests which develop as the variations do.
What is the reliability of Innova's LFT for the Delta(Indian) variants. I suspect it is hopelessly inadequate!!
Not heard anything from Innova about that.....!!

Innova test get UN-approved, NCYT's LFT takes it's place. Innova makes hostile bid for NCYT...SP sky rockets.

Hmmm... one can dream!

Our test remains SUPER accurate across all variants. Great.

I wonder how the Innova LFT's compare..across all current variants. Do they even test that or publish figures?

I think with COVID amendments to the filing rules they could delay results another 3 months after end of June.

I hope they don't as that would create even more uncertainty.

Just give us the figures, with whatever DHSC provision you need to. Still going to be £200M + revenue for 2020. BRILLIANT !!!!!!!!

Does anyone know how much we pay ODDO for there "brokerage"

So it does beg the question, if the nominee brokers aren't lending out shares, who is.

Can only be large shareholders, fund managers. BUT they have bought the shares why would they happily let a shorter trash the price. It's a bit like lending someone your brand new car. They thrash it around putting miles on the clock and return it a bit battered and scratched.

I read that the broker can only lend your shares with your permission, however you may have done so inadvertently in the terms and conditions.

I am with Barclays. I couldn't find anything in the 44 pages(!) of terms and conditions, however I may contact them to get a categorical answer.

I agree putting a very high sell order in may help as in theory those shares are "pending"

Volatile companies with lots of PI's are a shorters' dream, especially if there are plenty of stop losses to mop up.

I do find it interesting that NCYT tell us they are "working with a partner" to develop an LFT Antigen .

Does beg the question of WHY a partner. We seem eminently capable of developing tests on our own and have been doing alone.
So what is the partners role? R&D, test validation, manufacturing, sales ?

So I was confused this morning about whether Innova tests were Chinese or American.

Having googled a bit it looks like it was Innova medical group(an American company) were supplying the UK Gov with their dubious LFT's. BUT turns out they were manufactured for them in China. (why we all thought they were Chinese)

Innova medical group is a subsidiary of Pasaca Capital Inc.(a US private equity company)
They claim to be the world's biggest manufacturer of LFT Antigen tests.

We also hear they are planning a new manufacturing plant in Wales in the summer.

We know this is what NCYT told us:
"PathFlow® SARS-CoV-2 Antigen is a professional and home use LFT for the detection of SARS-CoV-2 antigens using non-invasive anterior nasal swab samples to provide a result in approximately 15 minutes. Novacyt has been working with a partner to develop this test, which is able to detect the virus regardless of current known mutations. The Company intends to launch the test as CE-IVD before the end of Q2 2021 and expects it to complement Novacyt's established position in COVID-19 PCR testing. As the market for COVID-19 testing continues to develop, the Directors believe this product could add significant revenues for Novacyt..."

Have NCYT teamed up with Innova. The largest supplier of LFT's in the world. To make them in Wales !!!!

I thought Innova were Chinese. Seem to be American.

Clearly want to cement their foothold in UK .

Could easily swallow up NCYT to get access to our expertise and NHS framework