Member Info for T0n1c

Thanks BigJock for organising the Q&A.
My favourite snippets amongst the many are:

Antibody – “We are currently building UK-RTC stock”
Millions of tests to sell, hopefully to non UK Gov customers (for higher margins).
Abingdon and CIGA have been actively promoting the availability of ABC-19 and that they can be ordered now (no longer pre-order).

Antigen – “We are happy with the terms of the contract and that we will receive a fair price for the work we undertake for the Government”
We’ll be told in due course, obviously, but I’m hopeful the Finncap estimate is on the low side.

Antigen – “Can assure you that Mologic TT remains a key focus for the site.”
I think once Boris announces the plan out of lockdown we'll hear, shortly after, about UKCA/CE mark and confirmation of DHSC selected tests.

Expansion - “Early last year we took possession of the third unit as part of our expansion plans. This new unit is where the Government equipment will be used and the work we have commenced is to link this unit to the other two, which will allow easier product flow between buildings”
This one is interesting. The implication is that DHSC provision will be long term, and/or there is confidence in post DHSC world that the expanded space (and perhaps kit) will still be needed. Why go to the cost/trouble of connecting them otherwise.

Future - “Work has commenced on both these projects, they are very much in the early phase and a key first step is to produce raw materials that will provide a competitive edge, that is currently our key focus.”
Great to read that work is already underway developing tests of the future (Cryptococcal meningitis and a TB-LAM test to diagnose T.B).

CD4 (CHAI) – “7-10 countries are expected to have initiated roll out plans for the test by the financial year-end i.e, March”
CD4 orders to hopefully be realised next month.

Happy days. DYOR, GLA.

Indeed.. thank you BigJock (and please pass on thanks to Colin).

I particularly like, "We are currently building UK-RTC stock for forecasted demand, CD4 tests and transferring Mologic antigen test"

You seem on a bit of a downer this morning... was it Gin last night? :-)

Cheer up chap... It's all good news. Omega will make and sell whatever test (probably both), they can make.

200% ?

Did you take the blue pill this morning Kev? You're very perky all of a sudden.

@Girdz, you're absolutely right.. After I hit post, I realised.

@Chuggley, not aimed at you Sir. It's frustrating, but hopefully just clearing the decks for better things to come.

I'm not surprised the Bill has taken some well earned cash. He's had a good 3 years stint with Colin to get Omega up to these giddy heights. Let him take his spoils and spend them as he sees fit, and let Simon and Colin take it on further.
With regards to reasons why, people can only assume, with many reasons:
No director would be allowed to sell prior to any bad news.
It's in bad taste to sell at highs after good news.
Tax implications.
His partner's birthday is coming up and demands an expensive gift.
School fees pending.. and so on.

What surprises me more, are the posters that crawl out from their hiding places.
For days of positive news in the press around LFT's, you hear nothing.
A whiff of negativity (which there isn't).. and BOOM... out they come.
Welcome back folks... you know who you are.

"Weve seen the 400000 per day in the press already"
And that's just the initial number of tests being posted directly to peoples homes.

I don't have any links, but just saw on Sky News that some Asda stores are being supplied with LFTs.
Local authorities were not informed, which was the actual story.

Does anyone know what it is?
I can find in March 2020 it was 500k per week, but they must have increased that since then.

So Twatcher, what you're saying is that there will be a considerable manufacturing shortfall.
And in the same breath, questioning that ODX will be selling all they can make.

Greg, we can only assume that Omega have been producing LFTs, in line with their increased capacity, for the previous months. We've not had it confirmed by Omega.
If they have been, it will only be for Antibody (either ABC-19 or Visitect), as we don't yet have a UKCA/CE marked Antigen test.

My assumption is that they have been producing ABC-19 tests, as Abingdon have been (confirmed via RNS), in anticipation of orders.

I agree Richard

https://twitter.com/mologic/status/1361679970972684290
There's a lot going on in the press around LFT's now... keep it coming..

"All samples were screened by ELISA for the detection of anti-SARS-CoV-2 IgG (Omega Diagnostics, Alva, UK), as per the manufacturer’s instructions."

Thanks Regulator... so reading the ODX RNS from the 11th, and considering AVCT won't have a test until April+
"the Group expects that this supply contract will lead to significant volumes of tests being delivered over the COMING WEEKS and months."
The above statement kinda puts the timeline out there that it's Mologic that will be the DHSC selected selected test (alongside SureScreen).

AVCT Initial evaluation has been published... moving to clinical trials.
I think a few rainbow chasers/traders will be heading there for a while, maybe jump back here later.
@Regulator/Tecbadger - You're more experienced in these things than I am... how long for clinical trials do you think? End of March?

But the ABC-19 news is very positive news. We know, through the recent FT article, that there was publication of a letter implying MHRA approval had been granted for the ABC-19 test, and I'm guessing this performance data will be used to substantiate that.... As some have mentioned.. the start of the news flow.

Innova is an Antigen test (do you have it)
The ABC-19 test is an Antibody test (Have you had it)

Not strictly true.. we have 2 Antibody tests ready to go... but I suspect you were implying Antigen.

Agreed, the kit will not cost anything, BUT as I mentioned we will most likely get less profit from using the Gov kit to supply the Gov, than if we were to use the Omega kit.
Maybe there will be a schedule that states after X million of tests supplied, then the kit will be deemed purchased by Omega, due to the favourable (reduced) profit realised in the production of those X million tests.
We can only speculate until we know the order details.

WOW.. had a day away from the BB today (damned work), but doesn't looks like I've missed anything other than JAdamgate.
Each to their own. Every day is a school day, and all that.

Anyways.. on the topic of equipment... Upomega, I agree. I think this could end up being very shrewd move.
Dependent on what the commercials around it, obviously. Yes, yes, yes... we need more information (those worried, please sell now).
There's an assumption that it is kit that will take us from the 1m per week, planned for with placing cash, to the 2m per week.
So if the agreement is to produce 1m DHSC tests a week, then profit will be offset (to whatever agreed level) against the loan kit.
If we produce more than 1m, then I would expect a blended (higher) price/profit would be agreed.
Once we get through the initial production of DHSC tests, then I think Omega will retain the kit.
The government will most likely keep the kit with Omega, so they can benefit from any future demand for tests, and have some clauses that give access to production of tests (not just Covid, perhaps) in the future.
Also giving the UK Gov the bragging rights to having invested in UK diagnostics.