Member Info for T0n1c

Hold on all.... this 2 million is for Antigen LFTs, not Antibody LFTs. It's not competing with the RTC test.
It's competing, if competing is the right word given that all UK manufacturers will no doubt sell all they can make, with the recently CE marked Mologic Antigen LFT test.
We're all hopeful, and some more positive than others, that we're pretty much there with tech transfer completing and getting the test CE mark of that test into Omega.
Any time now.... sit tight.

you probably meant to Caps the no, rather than the ARE.. perhaps subliminally you are actually trusting and believing in ODX.

Frustrating, again, that ODX aren't in the frame for this... but, looking on the positives:

"We have partnered with the first British manufacturer of lateral flow tests to deliver 2 million tests over the next three months"

FIRST - implies more to come
BRITISH - Seems the UK GOV are keen buy British tests
2 million over the next 3 months - Surely they'll be used in the next 3 weeks and will then need more tests from other British manufacturers.

FFB.. Liverpool testing was swab based antigen tests... not blood based antibody.
Public eh?

It is frustrating the GOV aren't talking about the RTC and the ABC-19 test.. but I think it's deliberate. The public don't need to know that antibody testing will be used to identify if/when they need a booster for the vaccine. It would complicate the messaging.

3/3

* Any commitment/collaboration with OX/AZ vaccine deployment
Tweeted on the 11th December, by Omega;
https://twitter.com/OmegaDiagnostic/status/1337366341104398338
From the RNS of the 30th November;
https://pbs.twimg.com/media/EqeDpknXUAE7Var?format=jpg&name=medium
November 30th presentation
https://webcasting.brrmedia.co.uk/broadcast/5fbf9d78b19325729a9d7d05
14’00” in, Colin mentions AB testing;
with the positive news of vaccine deployment, we expect that antibody tests will play a significant and key role in confirming if the vaccine has been effective, and if a booster will be required"
and also 17'30" in;
"Where we probably see the largest opportunity is around the vaccine programmes.” “a key role to play in the mass rollout of vaccines, where you would use the test to confirm effectiveness of the test…and also further down the line in terms of at what point you need a booster when immunity wanes.
Tweeted, by Omega, 19th November;
https://twitter.com/OmegaDiagnostic/status/1329409148165951490
There was also the much hyped publication from CIGA, on twitter, that was later taken down. I do think the statement used was excessive... BUT.. it was also somewhat reminiscent of the time BBI "leaked" the news of the "first" RTC order.
https://pbs.twimg.com/media/EqeBDYKXUAAbqWH?format=jpg&name=large

There’s no doubt more.

The 30th November presentation is well worth a view/listen. Colin mentions a lot of ‘significant’ opportunities”, and a lot of “imminent” and “early in the new year” statements, hence my believing that big news is due very soon.

Colin is not a shouty CEO, throwing out hopeful ambitions. He has said himself he prefers to under promise and over deliver. Setting out the strategy, delivering on it (which they have done, on anything that’s in their control), and then coming back to tell investors. It’s not ideal, at times, from a PIs perspective, but it is what it is. I do think Colin and team will sell all they can make.. It’s just a short wait for the news.

Given Omegas years of experience in the industry, expansion of LFT production capacity, near doubling of the Omega team, continued hiring of more staff, RTC partners also significantly increasing headcount, I'm inclined to trust Colin and the team in what they are doing, rather than listen to baseless noise from various BB contributors.
I appreciate I am one of those, so take the above as you so wish.

DYOR.

2/3

Other key updates pending:
* Confirmation of upscaled production to 500k per week (at end of December) was achieved, and on plan with further expansion
From the Investor presentation, 30th November; https://webcasting.brrmedia.co.uk/broadcast/5fbf9d78b19325729a9d7d05
Confirms they’re on track to be at 500k a week by the end of the year (2020) and @20’35” in, Colin states, “we’re making great progress in reconfiguring our site in preparation for more equipment, and people, to deliver the step increase in capacity that we’re projecting for February, March and April” – That lands at 2million tests a week. Interesting this would seem to also coincide with the 8 Biodot units procured by the UK GOV.
https://twitter.com/Shredz90/status/1347526209798864903
* Potential new news on further increased production
* Progress on Tech Transfer and CE mark of the Mologic Antigen test (This must be close now)
From the Investor presentation, 30th November;
https://webcasting.brrmedia.co.uk/broadcast/5fbf9d78b19325729a9d7d05
19'20" onwards - "In terms of the technical transfer. As promised we have commenced that work, with Mologic, to bring the test into Alva".... " We expect that work to complete early in the new year, and importantly sales to commence early in the new year as well".
FYI, the Triple antibody T&T from Mologic took 4 weeks.
* In addition to tech transferring the Antigen in under the Vistect brand, are there other arrangements in place to manufacture for/with Mologic? There was some mention of mystery funding in the 30th November presentation.
* MHRA approval for ABC-19 self-test – We were advised in the 30th November presentation that a further ‘small’ trial was needed for MHRA to consider the results, in addition to the Ulster trial. I think it is expected to be approved, but probably only once it fits with the GOVs approach to centrally recording results, to test and trace. https://twitter.com/EddieMorraNZT/status/1347890012961071107/photo/1,
https://www.abc19.com
* Updates from 76 (I think) countries on validation of numerous tests
* AVCT development tie-up – what’s the deal?
* Still need confirmation that Anthony retained his job after his linked-in profile update (flagging the AVCT tie-up)

1/3

Following on from my post on Friday, thanks for the acknowledgements and twitter exposure, I thought I would add more meat to the bones and join some of the dots to the news pending. Please DYOR.
There are some great contributors on here and on twitter.
I strongly suggest listening to the Omega Investor presentations, if you haven’t done so.
15th July - https://www.investormeetcompany.com/investor/meeting/financial-results-for-the-year-ended-31-march-2020
30th November - https://webcasting.brrmedia.co.uk/broadcast/5fbf9d78b19325729a9d7d05

News that will have the biggest impact to the SP is obviously related to sales, with a number of revenue streams available, not just Covid, to Omega:

* Visitect CD4 sales (NGO orders for the year ahead should hopefully now be approved/confirmed)
* Food detective sales (China in particular, with news of expansion into the US also expected)
* Covid - Visitect triple antibody test sales (looks to be selling. What are the figures?)
https://www.ppe4trade.com/visitect-rapid-finger-prick-antibody-kit
https://www.introdent.com/shop/visitect-covid-19-igm-iga-igg-rapid-diagnostic-test/
* Covid - UK-RTC - confirmation of further orders
- To UK GOV
- To other interested parties (better margins for Omega than sales to UK GOV)
* Covid - ELISA antibody testing (Omega were looking to setup a lab service, seeking MHRA approval and looking to offer this early in the new year)
* Covid – Completion of TT & CE mark and confirmation of orders for Antigen LFT

Expected pricing:
* 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)
* 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)

https://www.introdent.com/shop/visitect-covid-19-igm-iga-igg-rapid-diagnostic-test/

VISITECT® Covid19 Rapid Finger Prick Antibody Test
£416.67 for 25 tests

To add to takingeasy's post:

We have also been told that the UK-RTC margin for the initial gov order was slightly more than the forecast 50%.
And I'd hazard a guess, as per the RTC example above, that the margins will increase once production gets underway (Colins true under promise over deliver approach).

The Food detective costs are interesting too, especially given we now have China self test approval;
* Food detective sales - $15.50 per test @70% margin (taken from 30th November presentation)

As a reminder to those interested, and anyone new around here, news is pending on a number of fronts.
The ones that will have the biggest impact to the SP are obviously related to sales, with a number of revenue streams available, not just Covid, to Omega:
* Visitect CD4 sales (NGO orders for the year ahead should hopefully now be approved/confirmed)
* Food detective sales (China in particular)
* Covid - Visitect triple antibody test sales (There’s been some twitterers highlighting UK offerings to the market. Anything global too, I wonder)
* Covid - UK-RTC - confirmation of orders
- To UK GOV
- To other interested parties (better margins for Omega than to UK GOV)
* Covid - ELISA antibody testing (Omega were looking to setup a lab service)

Other key updates pending:
* Confirmation of upscaled production to 500k per week (at end of December), and on plan with further expansion
* Potential new news on further increased production
* Progress on Tech Transfer and CE mark of the Mologic Antigen test (This must be close now)
From the Investor presentation, 30th November;
https://webcasting.brrmedia.co.uk/broadcast/5fbf9d78b19325729a9d7d05
19'20" onwards - "In terms of the technical transfer. As promised we have commenced that work, with Mologic, to bring the test into Alva".... " We expect that work to complete early in the new year, and importantly sales to commence early in the new year as well".
FYI, the Triple antibody T&T from Mologic took 4 weeks.
* In addition to tech transferring the Antigen in under the Vistect brand, are there other arrangements in place to manufacture for/with Mologic? There was some mention of mystery funding in the 30th November presentation.
* MHRA approval for ABC-19 self-test
* Updates from 76 (I think) countries on validation of numerous tests
* AVCT development tie-up - whats the deal?
* Still need confirmation that Anthony retained his job after his linked-in profile update (flagging the AVCT tie-up)
* Any commitment/collaboration with OX/AZ vaccine deployment
Maybe more…

I’m half expecting/hoping for a general trading update, next week, updating on a number of the above points which will hopefully stimulate volume here, but appreciate Colin is hindered by NDA's and is actually more of a get the job done, well, and then tell folk. It is frustrating at times... but it is what it is.
I'm inclined, for obvious reasons, to trust Colin and the team in what they are doing, expanding LFT production capacity, near doubling the team, still hiring more staff, than listen to baseless noise from various BB contributors.
I appreciate I am one of those, so take the above as you so wish.

DYOR.

Silles - "We already have CE mark for Mologic antigen test."
Mologic have CE marked it. Omega need to do the same, after Tech Transfer.

Any number of news points to drop;
MHRA approval for ABC-19 self test
UK-RTC - confirmation of orders
To UK Gov
To other interested parties
TT and CE mark of Mologic Antigen test
Confirmation of upscaled production to 500k per week, and on plan with further expansion
*Potential new news on increased production, ahed of current, communicated, plans to meet continued demand
Confirmation of Visitect triple antibody test sales
Updates from 76 (I think) countries on validation of tests
Confirmation of Visitect CD4 sales
Confirmation of Food detective sales
AVCT development - dependent on commercials
Confirmation that Anthony retained his job after his linked-in profile update

There may be a few I've missed too.
*Speculative

Any of these, I think, would take the price up.. and dependent on order sizes could take it up quite significantly.
I'm sitting tight for 300p before I do anything.. and hope to see that some time from April onwards, though obviously won't complain if we see it sooner.

I went, with family, to a rapid test site just north of London on Saturday.
No booking needed, you could just walk in (after queuing for a very short time).
I was intrigued to see what test was used, and was not surprised to find it was the Innova test.

Hopefully in time, once Mologic and Omega (and perhaps others) can produce enough home grown produce, we can see that change.

The chap has just updated his profile and removed the AVCT reference.

With schools not going back, which I'm glad about, we're not going to get through the boxes of Innova, which I'm not so glad about.

And Mologic are passing onto Omega for use:
Mologic Universal Housing Cassettes
https://twitter.com/crober33/status/1345150494512197632/photo/2
Could be.. time will tell.

Before now there just hasn't been a UK produced LFT Antigen test, so they had no option than to use the Chinese Innova test.
Things will change soon, now the Mologic test has been CE marked.
Mologic themselves have manufacturing capabilities (40m a year I think), and Omega must be close to completing tech transfer, in readiness for CE mark.
I think we will soon see a switch from importing tests to using home grown, and Omega are in prime position to benefit from that.

Brigger - One for you to read

A number of statements have been made over previous months with regards to the use of the ABC-19 test and the AZ vaccine;

Tweeted on the 11th December, by Omega;
https://twitter.com/OmegaDiagnostic/status/1337366341104398338

From the RNS of the 30th November;
https://pbs.twimg.com/media/EqeDpknXUAE7Var?format=jpg&name=medium

https://webcasting.brrmedia.co.uk/broadcast/5fbf9d78b19325729a9d7d05/5fc522050c7aa22257c26c99
13'54" seconds in, Colin starts talking about antibody testing;
"with the positive news of vaccine deployment, we expect that antibody tests will playa significant and key role in confirming if the vaccine has been effective"

Tweeted, by Omega, 19th November;
https://twitter.com/OmegaDiagnostic/status/1329409148165951490

There was also the much hyped publication from CIGA, on twitter, that was later taken down. I do think the statement used was excessive... BUT.. it was also somewhat reminiscent of the time BBI "leaked" the news of the "first" RTC order.
https://pbs.twimg.com/media/EqeBDYKXUAAbqWH?format=jpg&name=large

A few jigsaw pieces to easily put together.
Agreed, orders are needed... but I'm confident they will come.
DYOR