Key points from the presentation28 Oct 2020 23:00
1) profit from government is around 75p+. There is no additional profit share
2) profit from RTC antibody that is sold to non-government, there is an undisclosed additional profit share
3) Ramping up overall LFT to 500K a week, and showed a path to 1M a week by Jan, and 2M a week by April. Of that, they are reserving 200K a week for gov RTC antibody orders. With a potential to eat into the overall capacity depending on additional gov requirement. CK appear to me to suggest that the 200K a week was the max that was covered by the "up to 25%" agreement, which suggests that it applies to an overall RTC order of 800K a week. Above that ODX would get 33% of additional orders. That was my take on what he said. 500K a week overall capacity is hoped to be able to be extended to 600K a week using the same equipment via optimisation of the processes.
4) The entire ramp up to a potential 2M a week can be acheived WITHIN existing funding, no new funding required. this was very clear.
5) Ramping up capacity to over 1M a week was not being done for the sake of it. That's paraphrasing but thats what he said. He also phrased things in such a way that I was left with the opinion that 200K a week from the Gov was a done deal.
6) I was the one that sent in the question in advance about whether there was an expectation that mass vaccination would require mass antibody testing, and he was very clear that it WAS his expectation.
7)Antigen LFT will hopefully be handed over to ODX by beginning of NOV. Would hope to be in a position to have completed 3 test runs by Xmas, or if not early in the new year.
8) As far as he is aware, the RTC test is the ONLY test that is being considered by MHRA, in other words at this time there are NO other antibody tests can have home use approval, or are being considered for home use approval. Expressed some disapointment that MHRA approval was not done at this time. Indicated that he would expect communication from MHRA very shortly, but that could be *possibly* a request for more information.
9) Spoke about targetting the US market for antibody (and I think antigen) testing. Said it was quite a bit of a process. They have someone working that angle for them, it includes getting FDA approval, but the suggestion was this could take quite a while.
I sent a live question in relating to MHRA testing for Antigen LFT. Wanted to know if Home use would be a thing for LFT antigen, and whether having done it for antibody, if it would give them a head-start for Antigen MHRA, but that question didn't make the cut.
There was a lot of stuff about their other businesses, such as HIV testing, and the food intolerance stuff, the summation of which is that both have a very positive outlook.
I felt the facts and outlook was really great, his presentation is a bit stumbling, the finanacial guy is a more assured presenter. I was left feeling that the formal RNS was a missed opportunity as the presentation provided outlook that could been
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