Ekf Diagnostics Share Discussion Threads

[crazycoops] 21/9/2021 13:55

But it hasn't tongosti, the price has been volatile over that period. Did you manage to buy the dips?

[tongosti] 21/9/2021 09:43

How come the price has done FÃ from 9 Nov 2020 then? Lol

[wan] 21/9/2021 07:56

The Delta wave and the Biden announcement has materially changed demand in the US. The following story adds further context to the above stories -

Thermo Fisher COVID-19 testing forecast tops estimates, crushes 2022 guidance
Published Sept. 20, 2021

By Nick Paul Taylor
Contributor

Dive Brief:
Thermo Fisher Scientific has forecast COVID-19 testing revenues will come in 100% above the expectations of Evercore ISI analysts in 2022 as testing demand returns amid the delta variant surge

Dive Insight:
Thermo Fisher has previously predicted coronavirus testing response revenues will total $4.9 billion this year. In discussing the longer-term prospects at a Friday investor day, Thermo Fisher management said most of the COVID-19 testing revenue will ramp down as the pandemic comes to an end. Exactly how quickly sales ramp down will influence Thermo Fisher's revenues in 2022 and potential beyond.

With multiple COVID-19 testing companies reporting cratering demand, at least before the recent delta wave in the U.S., analysts had low expectations for Thermo Fisher’s activities in the space. The actual forecast came in 105% above the estimate of analysts at Evercore ISI.

The analysts wrote that Thermo Fisher's financial targets set the company "apart from peers."

In the brief history of the COVID-19 testing market, several companies have been forced to walk back from earlier predictions in response to rapid declines in demand. However, Thermo Fisher CEO Marc Casper expressed confidence that the $750 million target is an achievable baseline objective.

"We actually de-risked the assumptions within the numbers for this year, as well as for next year, where we picked a number that I think you have a very high degree of confidence that you're going to be able to deliver. But there's obviously a range of outcomes above that as well ... depending on how long the pandemic plays out and what the back-to-life applications are," Casper said.

Full story -

Add into the mix EKF's improving trading in the core business, not to mention EKF's investments in the existing core business to maximise the value of their distribution network and drive aggressive organic growth, means we are well placed to benefit from the increased focus and increasing demand on healthcare.

[wan] 20/9/2021 17:28

As I reported previously, we know from the recent Biden announcement and the subsequent imminent regulation that all firms with 100 employees or more will need to require that workers get vaccinated or undergo weekly testing. And that that could nearly double the volume of tests currently being processed, which has already 'significantly' increased demand for COVID-19 testing, including PCR testing. The following article adds further context -

Prognosis
Biden’s Vaccine Mandate Risks Overwhelming U.S. Testing Capacity
By Emma Court
14 September 2021

Some 81 million Americans worked at firms with 100 or more employees as of early 2020, according to the U.S. Bureau of Labor Statistics. If about a quarter of that population remains unvaccinated, as many as 20 million individuals could require weekly screenings -- a rate of nearly 3 million tests per day. By contrast, about 10 million Americans were tested each week, on average, over the last month, data compiled by Bloomberg show.

The Biden administration announced last week that the Department of Labor’s Occupational Safety and Health Administration would soon implement the emergency regulation, and those who do not comply could face fines of up to $14,000 for each violation. It also earmarked $2 billion for 280 million rapid tests for use in community sites like schools and food banks, and said the Defense Production Act will be used to build out testing manufacturing capabilities.

“Right now, there’s simply not enough tests available to do the testing that’s being called for,” said Jennifer Nuzzo, lead epidemiologist for the Johns Hopkins University’s Covid-19 testing insights initiative.

Harvard’s Mina estimates that as much as two or three times as much testing may be going on than officially accounted for. And while the 280 million rapid tests being purchased by the government sounds like a large figure, it translates to “less than one test per person, per year” across the U.S. population, he said.

Ramping up the manufacturing of rapid testing products would help satiate growing demand, Mina said. Part of what the administration’s purchase of those tests could do is signal to manufacturers that there is a longer-term market for virus screenings.

Depending on those details, and because of tight rapid testing supply, employers may end up turning to laboratories to process polymerase chain reaction (PCR) tests. The American Clinical Laboratory Association, an industry group, said in a statement Thursday that its members “stand ready to support these efforts and ensure the widespread availability of these critical tests.”

Adam Schechter, the chief executive officer of Laboratory Corp of America Holdings, said that the company has had employers reach out asking about services for testing and vaccination assistance since the Biden announcement last week.

Schechter emphasized the role of rapid testing in large-scale screening like the kind in the new Biden administration plan. He said that laboratories have capacity to conduct PCR testing for those who test positive on a rapid test, who have symptoms or have been exposed to Covid.

Full story, worth reading -


I also note the recent US Department of Defense announcement regarding the procurement of rapid antigen testing (which can ultimately result in the requirement of a PCR test, or simply PCR testing anyway) -

US Department of Defense Awards $647M to Procure Rapid Antigen Tests
Sep 20, 2021 | staff reporter

All of the contracts run from October 2021 through September 2022.



I am aware of some antigen tests that utilise a buffered saline solution with an antimicrobial agent, but nontoxic at the levels contained in the solution, so these tests can also be used for at home testing, which provides further food for thought.

[tongosti] 20/9/2021 11:42

What's more interesting is the lack of follow up. Fundamental analysis is worth nada unless the share price plays ball. Still in but getting ready to cut it loose if most recent b/o is invalidated as I described last week.

[wan] 20/9/2021 07:56

Interesting updates from both Myhealthchecked and SourceBio today confirming the significant increase in testing to date and that certain Covid-19 testing requirements will still be required for the foreseeable, generating Covid-19 testing revenues accordingly.

Over in the US, where EKF recently received a new order for Covid-19 testing enabling an 'additional' 500,000 tests per week, I also note Thermo Fisher's update regarding Covid-19 testing revenues -

Thermo Fisher Scientific Expects 12 Percent Revenue Growth in 2022
Sep 17, 2021

NEW YORK — Thermo Fisher Scientific on Friday provided initial revenue and earnings guidance for 2022, while reiterating previously disclosed financial guidance for full-year 2021.

The company's 2022 figures assume 8 percent core organic revenue growth and $750 million of COVID-19 testing response revenue, as well as $6.0 billion in revenue from clinical research services provider PPD, which Thermo Fisher is set to acquire by the end of 2021.

Thermo Fisher also said that each additional $100 million of COVID-19 testing response revenue over the projected $750 million would add about $.06 of additional adjusted EPS.

Wall Street responded positively to the firm's 2022 guidance, pushing shares of the Waltham, Massachusetts-based company up 5 percent to $589.84 during morning trading on the New York Stock Exchange.

Full story -

[tongosti] 17/9/2021 13:41

Newtonian.

[sirshagalot] 17/9/2021 13:10

breaks wind

[tongosti] 16/9/2021 12:13

2.5 points away from cancelling the validity of most recent breakout. Will it happen? No need to guess - leave that to Mr Market. As this is a game of probabilities (not certainties which the average long term gambler is betting on) one needs to be as flexible as the wind.

[wan] 16/9/2021 08:46

Shanklin...Let's just say it's a particularly large customer (actually not sure who), but on the other hand the customer base is notably expanding.

[shanklin] 16/9/2021 08:29

wan,

Thank you for your presentation notes.

Re "One or two large customers extended payment terms", any idea please as to whether this is a permanent arrangement, with customers such as A*a*z*n, who perhaps have negotiated themselves particurly good terms, or a temporary situation?

TIA.

[tongosti] 16/9/2021 08:11

Better start of the day than yesterday's action. Let's see what this baby will be up to today.

[wan] 16/9/2021 08:00

Amongst others, the following will no doubt, at the very least, assist the rapid rebound and expansion from the obsolescence of the previous STAT-site device -


EKF Diagnostics to Showcase New Handheld β-ketone & Glucose Analyzer at AACC 2021
September 15, 2021

EKF Diagnostics, the global in vitro diagnostics company, announces that it will be demonstrating its new STAT-Site® WB dual analyte measurement system at the 2021 AACC Annual Scientific Meeting & Clinical Lab Expo.

As EKF’s first face-to-face event since COVID-19 restrictions began, this will be the premiere of the new handheld analyzer for reliable and efficient β-ketone and glucose measurement from whole blood in seconds. Visitors will be able to see firsthand how easy it is to use the CLIA waived and CE marked device in professional settings to monitor the effectiveness of diabetes control programs. EKF will also be introducing its newest hemoglobin analyzer for the US market, the Hemo Control, which provides near patient hemoglobin and hematocrit results in one test as quickly as 25 seconds.

EKF’s team of point-of-care and central laboratory diagnostics experts at the Georgia World Congress Center in Atlanta, U.S., September 26-30, will also highlight the Lucica® Glycated Albumin-L. Manufactured by Asahi Kasei Pharma, it is a specific test for glycated albumin (“GA”) and is FDA cleared for sale in the U.S. where it is sold exclusively by EKF Diagnostics. This established test enables intermediate term glycemic monitoring of diabetics over the preceding 2-3 weeks.

The Lucica® Glycated Albumin-L is a quantitative, enzymatic test for use on compatible clinical chemistry analyzers as a “user defined” method. The Lucica® method has appeared in numerous published studies.

Glycated Albumin levels are not affected by the life span of red blood cells (“RBC”), and therefore it is a useful substitute when the HbA1c interpretation is problematic such as in the presence of hemoglobinopathies, iron deficiency, and anemias. Another key feature of glycated albumin is that it changes more rapidly and markedly than HbA1c. Therefore, GA is a good marker to monitor the effects of changes in therapy in patients with diabetes when more rapid treatment responses are needed.

The STAT-Site® WB and Lucica® Glycated Albumin-L test are part of a suite of other diabetes care products that EKF will be showcasing at 2021 AACC. These include its Beta-Hydroxybutyrate LiquiColor® Assay (B-HB) and Nitro-Tab Ketone Tablets, both of which provide quick and simple tests for ketosis.

Other product highlights on EKF’s stand for point-of-care and central laboratory testing include its hemoglobin analyzers, the hand-held DiaSpect Tm and the HemoPoint® H2 which offers both hemoglobin and hematocrit results in one test within 30-60 seconds. Additional analyzers on show include the Biosen RUO glucose and lactate analyzer.

EKF will also discuss its growing EKF Life Sciences business which provides contract manufacturing services, as well as manufacturing diagnostic enzymes for use in medical diagnostics, pharmaceuticals and industry. This follows recent significant investment in its longstanding fermentation facility in Elkhart, Indiana, where it has been manufacturing enzymes and related biomolecules from bacterial fermentation since 1983.
Full story -

[wan] 16/9/2021 07:30

The following is an 'example' of a test to differentiate between SARS-CoV-2, Influenza A and B, RSV collected from one sample and run a single, highly sensitive multiplexed test that detects and differentiates all four viruses -

Updated Cepheid SARS-CoV-2, Flu, RSV Test Nabs FDA EUA
Sep 14, 2021 | staff reporter

NEW YORK – Cepheid announced on Tuesday that it has received Emergency Use Authorization from the US Food and Drug Administration for a new version of its multiplex SARS-CoV-2, influenza, and respiratory syncytial virus test.

The new Xpert Xpress COV-2/Flu/RSV plus test adds a third gene target for SARS-CoV-2 to detect future viral mutations of the virus. The addition "delivers broader coverage to mitigate the possible effects of future viral genetic drift," the Danaher subsidiary said in a statement.

The test is designed for use on any Cepheid GeneXpert system, which leverages PCR technology, and delivers results in approximately 36 minutes, the Sunnyvale, California-based company said. Cepheid expects to begin shipping the test to customers in the US in the next few weeks.

"The ability to collect one sample and run a single, highly sensitive multiplexed test that detects and differentiates all four viruses will provide actionable results to inform better front-line decisions within our healthcare systems," said David Persing, Cepheid's chief medical and technology officer.

The first version of the test received EUA from the FDA last year.

In July, Cepheid announced a $28 million award from the US Department of Health and Human Services' Biomedical Advanced Research and Development Authority for product development related to the multiplex test and a pan-coronavirus test.

Full story -

[wan] 16/9/2021 06:23

The following is from a combination of memory and quickly taken notes during the EKF Investor Briefing yesterday and should therefore be taken into account accordingly. Please feel free for the other participants/listeners to add, correct or clarify further.

Finance -

As I previously alluded to, cash generation was affected by unusual circumstances, predominantly one or two large customers extended payment terms, large deposit payment for the new fermentation vessels and securing important/critical inventory out to and including 2023.

Ultimately, without these elements cash generation would have been 'much' higher, but a large percentage of those effects from the working capital requirement will flow back.

The above shows up in the accounts in Trade and other receivables £16.1m and in CONSOLIDATED STATEMENT OF CASH FLOWS under Changes in working capital.

Cash balance of £20m obviously included the above and included the bonus payment to the directors

No fund raising or debt required for the targeted earnings enhancing acquisitions (the targets are already revenue generating). Advanced discussions with targets ongoing, with a strong likelihood of news flow accordingly.


Other (in no particular order) -

Large order received from Peru for Hemo Control product. This was reported in the Interim Results under Hematology.

New US order from large private sector partner for product and kitting to enable 500,000 PCR tests per week (for a minimum of 6 months).

(I missed a part of this conversation) - Involved in production of a 'one swab' test to differentiate between SARS-CoV-2, Influenza A and B, RSV

New large order from Longhorn Vaccines.

Ongoing very strong relationship with Longhorn, and under a new agreement EKF is now the distributer for Longhorn products in the US

Luke Daum (ex Longhorn Vaccines) , Chief Scientific Officer at EKF Diagnostics, will be full time and will be Mike Salter's (CEO from 1st Oct) righthand man in the US, and will also greatly assist Mike regarding new tests for early disease detection.

Large private sector customer moving into diagnostics, including at home diagnostics. EKF also currently manufacturing a molecular enzyme product for this partner to be utilised in diagnostics outside of test kitting.

New exciting investment opportunity, in a new market, identified and under advanced discussion with Mount Sinai, if all goes to plan EKF and Mount Sinai investment and dividend in specie next year, and spinoff in 2022.

[faz] 15/9/2021 21:02

yes it was all good.I like the way they handled the 'large customer' noise which seemed to dominate the May presentation

[cisk] 15/9/2021 19:26

Standout items for me on the call:
1) Possibility of increased orders from the US
2) Potential new spinoff from MS collab next year
3) genetic sequencing testing potential strategic testing - Luke Daum new recruit, others on the call may be able to elaborate better than I

[wan] 15/9/2021 18:40

Just a quick note for now.....A truly excellent briefing today, where confirmation of a record August (usually a quite month) for EKF was but one of many highlights, with 'much' more to come beyond that and going forwards.

My thanks go to the management and the whole EKF team, on delivering an excellent set of results, and for cultivating the new and exciting growth opportunities. And an even bigger thank you for providing investors with what now looks firmly set to be a very solid and encouraging, if not exciting, long-term investment!

[tongosti] 15/9/2021 14:45

Technically consolidation hypothesis holds until the low of the breakout day is not breached. Tic toc.

[richman777114] 15/9/2021 13:22

I would say this is post breakout consolidation before the next leg up on the back of this afternoon's presentation to investorsIMHO

[tongosti] 15/9/2021 12:33

Poor mg. his 12 month "paper" profit shrinking. Like I said this is a very very poor follow up day. Those who are able to listen ... listen up!

[tongosti] 15/9/2021 11:37

V poor follow up day. Observe and act accordingly is the mantra!

[wan] 15/9/2021 08:37

EKF is a shareholder in both Renalytix and Verici and both have been nominated and shortlisted for the AIM Best Technology Award -

[wan] 15/9/2021 08:01

Interim Results Presentation -