GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
I wanted in on a spread bet at this level, but they're closed out on a couple of platforms.
I think they've dropped on delayed news of an RTC update (next week hopefully).
More so, perhaps, that they weren't named in the FT article, and added to that the unclear timelines of the AVCT news this morning, and their association with that.
Their time will come, I think.
DYOR
It's actually 20 million Pete.
https://www.gov.uk/government/news/british-manufacturer-surescreen-diagnostics-to-supply-20-million-rapid-lateral-flow
A great indication that Omega will be selling all they can make.
This latest development is outside of the RTC framework anyway.
I suspect Omega will want to announce TT complete and CE Mark before orders confirmed, or bundle them together perhaps.
They must be awfully close though, for the 'leaked' FT article not to be disputed.
JAdam, supported further with the RNS this morning with the term, "WHEN" not if
"When contracts or supply agreements are signed to utilise this capacity the Company will announce this in line with AIM disclosure obligations."
It's great to see Macca back (not pac a mac) too. Always a delight.
Big news Cohan.. the Blinds are up
2m a day, is a heck of a lot. With all 3 at full production they're still going to be some short.
I note in the tweets today that Walbrook state "currently" and Omega make no reference to an amount.
Let's hope plans are already underway to expand further.
https://twitter.com/WalbrookPR/status/1358489836890583040
“ODX are currently developing their Alva facility to produce 2m tests a week.”
https://twitter.com/OmegaDiagnostic/status/1358372982876471298
“We continue to modify our Alva facility to upscale Lateral Flow Test production capacity.”
Expected pricing for each test:
* Covid - UK-RTC - £1.50 - 50% margin (taken from 15th July presentation. We have been told since that for the initial UK gov order the margin was slightly higher)
* Covid – Antigen LFT test - £5 per test - 50% margin (taken from 15th July presentation)
* Covid – ELISA lab test – Pricing TBC (Twitter speculate £30 a test, margin unknown)
* Visitect CD4 - $4 per test - 70% margin (taken from 30th November presentation)
* Food detective sales - $15.50 per test - 70% margin (taken from 30th November presentation)
* Covid - Visitect triple antibody test - £3.20 - 50% margin (taken from 15th July presentation)
.. what time is Punit going to post, "Why the rise?"
Well done all the LTHs.
As stated before now, February isn't disappointing on the news front.
GLA.
I agree with, "no good just picking out what you want to see", but you seem to have taken it to a new level of making things up, just to fit your narrative. All the best
Kev, can you please share a link and call out the section where you read that?
The link that Simon has shared doesn't seem to support your interpretation.
I can only find details such as:
"To support the high demand for SARS-CoV-2 testing, Roche created more than 1,000 new jobs worldwide and significantly increased total production capacity"
"By the end of 2020, more than 1,000 of the high-throughput cobas 6800/8800 instruments were in place; almost twice the number projected for the year were installed in 2020. These expansions will help laboratories meet the rapidly growing global demand for COVID-19 testing."
"Production capacity for SARS-CoV-2 tests and COVID-19-related medicines ramped up significantly at unprecedented speed; substantial funds committed to further expand supply chain capacities (>CHF 800 million)"
Nothing that indicates any drop in demand.
Cheers
@Computer.
Thanks for the views. Much appreciated.
I'm not sure what the missed opportunities are that you refer to.
I can see the RTC perhaps being one, but it's a double edge sword. Great we're in line of sight for Gov orders and endorsement (not to mention backing).. but it certainly seems to have held us back somewhat.
ELISA wasn't as successful as expected but the firm has adapted and perhaps that will bring better opportunities (with more profit).
I can't think of anything else they've done wrong, if indeed the above can even be classed as wrong.
Covid seems to have been, and continues to be, a steep learning curve.
Mologic have driven the roadmap for test availability, and Omega have done well (I think) to
A) Put in place the MTA with Mologic in the first place
B) Push the TT processes through in a timely manner. In all honesty I personally had expectations of TT and CE marking competing before Xmas, but that's not based on anything that Omega set out, that was based on my lack of detailed understanding of process. We're still in the timelines set out by Omega.
Sales wise. I think there's strong potential for ABC-19. I think with Abingdon and CIGA clearly promoting now, that will empty the shelves of the current stock piles, perhaps more. I still expect the GOV to procure many millions too, but need the GLP noise to go away. Whether they'll be used for vaccine booster requirements, or a general mass surveillance is yet to be seen.
Antigen, I agree, is the big ticket item. As you say, the making of Omega for decades to come. I think this be the case.
CD4 - I think we will see increases in revenue for this, over last year.
Food Intolerance - If we break the US, and continue growing in China (with the recent self-test approval) then I think this will also grow, over last year.
The bit I'm now getting interested in is, what next? When the Antigen money (and more) does start coming in.. then what? What are the next tests?
It sounds as thought you and I have been invested for the same amount of time.
I've have averaged up every so often, but never taken the risk of selling on peaks (cos who the heck really can), and buy-in in cheaper... but happy with my position.
It really is just a waiting game for now, as you say.
These are just my views, and I appreciate you sharing yours. Cheers.
Computer, do you think they will have the orders?
I disagree... I think it's a good tone, and calls out the most important quote from the end of the programme.
“there has never been a greater need for a reliable testing programme”.
Of the 5 I have listed, Kev, none as far as I recall have ever stated £5 by April. That's why my view is that they give rounded views with 'useful' information and opinions.
Where as your good self, today, "Probably end up selling them in them bargain bins in supermarket"
and yesterday "I am cautiously optimistic medium term "
All the best
BigJock
MerchantBanker
Regulator
TecBadger
Jadam
There are many others too.. but off the top of my head the above, combined, give a good rounded view of all things ODX.
I like the work Shredz does on Twitter too, again well as a few others.
ITV - 19:30 - The Tonight programme.
says the oddest of all characters. :-)
Computer, thanks for the thoughts.
We are in the middle of a pandemic. But.. how many UK manufactured Antigen tests have gone to market, and been procured by the UK Gov?
Just a small number of SureScreen (I think) tests. The millions and millions of others have all been Innova (US) Chinese manufactured test. That's not Omegas fault. I think Omega, and the rest of the UK manufacturers have, and continue to, rapidly responded to the demand. It does take time though. Longer than we would all like, but I don't think it can be denied that they've got to where they are at great pace.
I think there is something at play, already, with regards to UK Gov demand for AG LFTs, with the £912m tender that we should hear about in the coming weeks.
The TT was always planned as "early in the New Year". For me, that's a Q1 deliverable, but I think it will be a Feb completion. Thats just my opinion. Check out UpOmegas post on the TT process. IT's worth a read.
I agree official RNS is the best confirmation of what we want to hear, but I really don't think Omega or Walbrook would put anything in the public domain, by way of twitter updates, unless they were 100% accurate, so I accept the tweets as great information. In time we will get further updates via RNS.
Feb 15th is one date to watch for, after the DHSC framework expires, for the ABC-19 AB LFTs
TT complete could be any time.
Other significant sales news could be any time.
"Is the Government's plan to instantly mass test for Covid-19 proving more trouble than it is worth? Major questions are being asked about the accuracy of the instant tests, which are costing hundreds of millions, but whose use is now being curtailed in places like schools and some care homes. Adam Shaw asks whether lives could be at risk and whether rapid mass testing could end up being money down the drain."
Perhaps the answer will be that Rapid testing is not putting lives at risk and is not money down the drain.