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10.5 weeks since this.
The contract is with a European customer with the initial phase worth a minimum of £2.7m (based on minimum specified monthly order quantities and pricing at current GBP/USD exchange rates) for the first year. All raw materials required for production will be provided by the customer. There will be an initial technical transfer process, paid for by the customer, which is anticipated to take approximately two months.
I tend to agree. Sentiment has been well and truly destroyed here. I’m really struggling with what appears to be complete and utter disdain for the investor base. Appalling half-baked comms, usually lacking any form of detail, the management should be ashamed. They’ve essentially taken the MCAP from 100 million to 12 million and it’s still declining. Yes they’ve had some bad luck but any company with a bit of commercial savvy would have a plan B. Their approach to revenue seems to be lethargic at best and it looks like the market is no longer interested.
I’m still holding but getting increasingly frustrated!
Surescreen are developing an 10-minute LFT. Why are Abingdon not on this, maybe not solely but in collaboration?
https://www.business-live.co.uk/manufacturing/suresreen-diagnostics-profits-jump-below-24489255
Still has a pulse. Not sure if anyone has already seen this but the Knownow trademark has been published in the US but has been opposed which is quite normal.
https://tsdr.uspto.gov/documentviewer?caseId=sn90511007&docId=PB320220614020936#docIndex=0&page=1
Covid could go on for another 5 years and we will still be sub 10p at this rate. They have so far failed to convert anything meaningful. One Covid test is featured on the new eCommerce site and we don't even make it...comical if it wasn't so tragic.
Lots of talk of good things to come, but they really need to start coming, starting with 2.7 million deal, tech transfer which is now overdue.
Vatic website today. Somethings afoot.
We are also conducting 600 patient clinical trials with sites across the United States, the United Kingdom and Brazil to provide a higher volume of clinical data so that we may widen the reach of the impact the Vatic COVID-19 test can have globally in pandemic recovery.
Another Vatic tweet from February claiming results of the US trials would be released in a few weeks. Did anyone see the results?
https://mobile.twitter.com/Vatic_Health/status/1493270451497410569
Do we know if the results were released? They pressed on with US EUA in March so I would imagine they had the results and they must have been Ok. All very strange.
I noticed someone posting with reference to the below yesterday. Does anyone know if this happened? The tweet was from Vatic in December 21.
It’s key that current tools continue to work with variants.
We will soon be releasing a paper on how our KnowNow Spike Test performs against a range of mutations, to validate that “as the virus mutates and becomes more infectious, our test gets more sensitive” - Dr Mona Kab Omir
It would appear there is a complete lack of confidence for Abingdon to complete anything in a timely fashion. The 2 month tech transfer from May 17th for the 2.7 million deal is a good example. 2.5 months now. Why not say 3 months and lower expectations? Completely unnecessary given every other let down.
Rant over. I will of course take it all back on a sniff of good news.
I don’t. I beginning to think the lack of communication and inability to get anything across the line is unacceptable. They presented a ghastly set of interims coupled with some MOU’s to soften the blow. We’ve had a couple of pointless RNS’s in between but nothing of any real substance. It really is about time Abingdon deliver. .
Avacta failed not Vatic. I don’t like the way the raise was done but it was essential. On your maths we should be funded for 12 months plus with revenues so no concerns with another capital raise.
Agree about the silence. The BOD really need to inject some confidence. Can’t imagine there are many happy holders here currently.
Who knows? Maybe it’s the Wondfo test although I’m not sure why they would need Abingdon for EUA when they could apply directly. It would be nice to be furnished with the information rather than having to second guess everything Abingdon are doing.