RE: Omega Staff - LFT Costs4 Mar 2021 17:58
God Almighty. Omega Diagnostics were a successful, profitable, small diagnostics company selling HIV tests and food allergy tests from their own brand. Then the pandemic came along and they were approached by Sir John Bell, lead scientist for the response to the pandemic for both vaccine development and diagnostics and asked (over time the scale of the request has grown) to reorientate their whole business focus to manufacture tests for the pandemic. The best rapid, lateral flow tests in the world is where we have settled. This has taken time. The tests have been under development and evaluation for the best part of a year. But they are about done and we are expecting news now. ODX have an agreement with the government as one of 3 preferred suppliers for antigen lfts and 1 of 4 preferred suppliers for antibody lfts. And JAdam doesn't focus on that previous incarnation when ODX were happily working at an £8 million profitability, satisfying customers, workers and shareholders with much more modest ambitions. No. He focuses on the last year. A period of transition and transformation when they have dropped business as usual to prepare for high growth and massively increased capacity with government support and at the government's request. The company is expanding exponentially from a workforce of 70 to hit 250 by April 2021. With capacity to produce 100 million tests a year. Last year is completely irrelevant. This old geezer is trying to gaslight the whole board. The near term share price is going to be all about the near term forecast but he asks you to look at last year's accounts- a period of disruption and transition. Irrelevant. Like him. An old brown leaf fluttering about as Spring dawns.
We're on our way. That's all there is to it.