Omega Diagnostics Share Discussion Threads

[longshanks] 14/10/2015 10:02

That is a great bit of news and indicates the level of confidence that both the stability issues can be resolved and that they will get the interim approvals necessary for sales to begin before full regulatory clearance is given.

Also interesting to see that we now have another Visitect product on the cards; first time I have seen a proposal for a malaria POC test.

Trading update/notice of results due within the fortnight - so we should get an official line on this soon.

[barrywhit] 13/10/2015 12:32

rivaldo,

Good find, lets hope they have sorted out the stability problems.......we could do with a good company update....

[rivaldo] 13/10/2015 12:03

News - hopefully this shows ODX's confidence that CD4 will be off and running having sorted out the teething problems:



"Omega Diagnostics inaugurates green-field manufacturing facility in Pune
By EP News Bureau-Mumbai on October 12, 2015

Supports the ‘Make in India’ campaign for the benefit of the Indian healthcare sector

Omega Diagnostics Group, a Scottish based company, has inaugurated their first green-field manufacturing facility at the International Biotech Park, MIDC Phase II, Rajiv Gandhi Infotech Park, Hinjewadi, Pune. With an investment of $0.9 million, the company estimates that it could be employing up to 50 people, including high quality positions in production management and technical/ Quality Control roles in the next 12 months.

Omega’s facility in Pune will initially concentrate on two rapid diagnostic tests (RDT). They are Visitect CD4 and Visitect Malaria. Visitect CD4 is licensed from the Burnet Institute in Melbourne, Australia. Visitect CD4 is used for staging and monitoring HIV patients. Visitect Malaria are high-quality, cost-effective point-of-care diagnostic tests are aimed to improve access, especially for rural patients, and to reduce patient loss to follow-up in India.

Andrew Shepherd, Chief Executive Officer, Omega Diagnostics Group said, “Having been active in India since 1992, and with the Indian healthcare market growing rapidly over recent years, the move to establish a manufacturing base in India is a logical and exciting step forward for Omega Diagnostics Group. Building on the establishment of our sales and marketing office in 2011 we see the potential for major growth, not just in the Indian domestic market but also the opportunity to export products produced in Pune to our global distribution network which covers over 100 countries.”

Rooma Kr Bussi, Country Director Scottish Development International India, also present at the event said, “India is a significant growth market for Scotland, and we see tremendous potential for Scottish companies to achieve product customisation and efficiencies by manufacturing in the country. Healthcare is a priority sector for India and Scottish companies are capable of offering innovative and cost effective solutions most suited to the Indian market. I am delighted with this investment by Omega and keen to see more Scottish companies supporting the PM’s investor focused ‘Make in India’ campaign. I am sure Scotland and India can collaborate on a much higher scale to boost the overall economic growth of both countries.”

Omega Diagnostics currently employs 19 people in India including representatives based in the main metropolitan cities. It has a warehouse for distribution of products across India with sub-distributor network of over a 100 distributors offering technical and customer service support to the Indian market."

[nehpets81] 02/10/2015 15:33

Yes, very refreshing indeed. I have decided to take a small nibble here - the risk seems like it is to the upside now, although obviously still speculative until the issues with CD4 have been sorted out.

Still, fortune favours the brave (I hope)

[barrywhit] 30/9/2015 15:01

Hi rivaldo,

Evidently not..LOL..., would be good to see the share price over 50p though, looks like they must be confident of getting CD4 to market....

[rivaldo] 30/9/2015 09:15

Evidently not barrywht :o))

RNS out - nice to see the COO being issued options which can only be exercised if the share price is above 50p.

And that EPS has to grow cumulatively 10% each year.

[barrywhit] 08/9/2015 08:44

Anyone go to the AGM? any News?

[hyperboreus] 29/7/2015 11:44

Ticking up a bit of late, may be of interest to some including rivaldo, video of Omega Group Operations Manager explaining how Ideagen Gael's Q-Pulse helps them to manage Quality, Safety and Risk effectively at different sites.

[weatherman] 23/7/2015 16:19

Rising this afternoon...

[rivaldo] 22/7/2015 11:21

LOL Hyperboreus! That would be about £700,000 then....not quite that much, but it's in six figures. Let's hope ODX' m/cap doesn't slip that far :o))

[hyperboreus] 21/7/2015 21:03

Rivaldo, just wondering if you are contemplating making an offer for Omega in the near future, that is after you dispose of your Eros shareholding which must be worth several million crore by now? :o)

[barrywhit] 21/7/2015 11:25

rivaldo,

The Edison report reads very well, many thanks...shame about the CD4 delay, I hold all my shares in my SIPP so another year or so is not a problem for me..

[rivaldo] 21/7/2015 10:58

Buying opportunity imo for those with an investment horizon of longer than a few weeks.

New Edison report out yesterday goes for 1.3p EPS this year and 1.4p EPS next year, and believes the CD4 problem "manifests quickly so tracking the cause should be fast":

[farmsted] 21/7/2015 08:58

The sell off continues, as a shareholder its worrying

[rivaldo] 16/7/2015 09:54

Shares Mag today believes ODX is a Buy at these prices:

"Omega to bounce back

Sell-off due to CD4 set-back looks overdone

A sell-off due to delays to a mobile HIV diagnostic’s trials is a buying opportunity at Omega Diagnostics’ (ODX:AIM).

Shares in Omega, which specialises in making food intolerance, allergy and infectious disease diagnostics, collapsed 22.8% on news that Visitect Cd4 will have to undergo further development due to stability issues.

Data collected by the device during initial tests deteriorates if left at room temperature for five weeks. The company is working on improving the device, which means further delays to the start of field evaluations.

Omega’s products generated £12 million in sales last year and the recent share price fall means that investors can buy at 13.5 times finnCap’s 1.3p March 2016 earnings per share forecast.

Cd4 is expected to be the first disposable mobile HIV monitoring device to hit the market.

The appeal of the device is that it can generate results on the spot, therefore removing the need for the results to be sent to a lab. This is not the first time that Cd4 has been delayed. Tests have to be repeated in Kenya following inconclusive results, despite positive data generated during trials in India.

We remain fans for now but will keep a close eye on future operational developments.

Shares says: 

CD4 bumpy ride to market continues, but has helped cheapen access to Omega’s existing portfolio at 17.6p."

[barrywhit] 10/7/2015 15:20

A couple of Director buys wouldn't go a miss....

[rivaldo] 09/7/2015 09:34

Cheers Looby loo.

Good to see comments about "further product opportunities" in the pipeline after CD4.

Plus new markets emerging globally for the food intolerance product range.

And getting close to the target of 40 allergens, with commercialisation within 12 months.

CD4 may take a few more months to sort out, but with a cash pile and a core business producing a forecast 1.4p EPS this year there's plenty of upside and minimal if any downside imo.

[longshanks] 07/7/2015 21:40

Must be all their exposure to Greece

[looby loo] 07/7/2015 18:15

Congratulations Omega Diagnostics!
Top of the Toplist!

[rivaldo] 07/7/2015 10:29

The core business, with 1.3p historic EPS and £2m cash, justifies the current share price on its own, with nothing in it at all for CD4 or for the panel of 40 allergens.

The results actually came in slightly ahead of Finncap's expectations, with 1.3p EPS (1.2p forecast), £1.8m EBITDA (£1.5m forecast) and £2m cash (£1.9m forecast).

Finncap retain their 28p target price and leave their 2016 forecasts unchanged at 1.4p EPS.

Once the CD4 storage issue is sorted out then you can be sure that ODX will RNS it and the share price will be well up from here.

[barrywhit] 07/7/2015 09:59

At this moment buys and sells are equal, don't you just love AIM.........(there could be delayed trades later) but the drop is well overdone....

[leedslad001] 07/7/2015 08:26

Agree Barry all mine is isas so no rush I am excited about the new platform always thought this was a big winner 500 million market and only one competitor

[barrywhit] 07/7/2015 08:22

Hi Leeds,

The drop first thing as always well overdone, still happy to keep all my holding shares in my SIPP.......

[leedslad001] 07/7/2015 08:16

Might b time for director buys