Ekf Diagnostics Share Discussion Threads

[retirementfund] 24/8/2020 12:54

Another day closer to results I wonder if we will see another trading update prior to results last update was 3 weeks apart which is about now. all in my view

[wan] 24/8/2020 08:48

Pldazzle...You are asking me certain questions that neither I, nor any of us, yet know the complete answers to and are perhaps unlikely to either. But we have not got long to find out with regard to some details (half year results next month).

I will attempt to add what I 'think' I know -

1 - No idea at this stage. Suffice to say that with at least two UK entities utilising PrimeStore MTM, and with the recent 'initial' order of £3m suggesting there is capacity for further orders based on production capacity of 25k units per day, in turn indicating healthy margins.

2 - In the US, I believe the majority of the orders are for a key PrimeStore MTM reagent, so combined with the fact that the orders are much larger for the US operation, the volume capacity is clearly much larger, and one assumes that the same reagents will be shipped to the UK and Europe?

3 - No idea, but again one would assume it to be larger than the UK operation, albeit it could also supplement the UK capacity.

4 - If answer 2 above is correct, then potentially EKF have involvement in all of these

5 - If my assessment is anywhere near right, that probably relates to Cenetron Diagnostics, who teamed up with Coca-Cola Bottlers to enable the scaling up of production into the millions per week. And Where I am assuming, at this stage, EKF's reagents are being used.



Caveats apply, as some of the above is based on certain assumptions and therefore not necessarily facts.

[pldazzle] 23/8/2020 23:51

wan - A fistful of questions for you about PrimeStore MTM:

1) We know that the Wales plant is producing - or now has capacity to produce - 25K units per day. Can you estimate how much EKF receives per unit?

2) What is the comparable volume/capacity in the USA, and are EKF's selling prices there also comparable?

3) Do we know anything about prospective capacity on the Continent?

4) According to there are five different sizes of tube, from 2mL cryo tubes to 15mL widemouth tubes. Do we know whether EKF have an involvement with all of these?

5) For the two widemouth varieties, the website says "Large US based supplier allows production to be scalable into the millions per week": is that EKF, do you suppose?

[wan] 22/8/2020 06:47

Most readers will already be aware that EKF's UK facility that's producing the PrimeStore MTM sample collection device is based in South Wales, and that EKF has now established a second UK production line at the Company’s facilities to meet the increased demand.

I was interested to note that Public Health Wales are significantly scaling up testing capacity -

18th August 2020
Major boost to COVID-19 testing turnaround times in Wales

Health Minister Vaughan Gething has announced nearly £32m to speed up result turnaround times.

The investment will deliver faster results for contact tracing and ensure Wales is prepared for any increases in cases during the autumn and winter.

The investment in Public Health Wales laboratory services will deliver faster results for contact tracing and ensure Wales is prepared for any increases in cases during the autumn and winter.

Dr Tracey Cooper, Chief Executive of Public Health Wales, said:

This investment will allow us to make some fundamental changes to our laboratory services that will significantly increase their capacity and resilience, both in the context of the current pandemic and in the longer term."

Full release -


Other developments -

Newport
Over 200 jobs announced as part of the Welsh Lighthouse Lab facility
20 August 2020

Health Minister, Lord Bethell said:

“I am hugely proud and absolutely delighted to announce the addition to our network of this new Lighthouse laboratory based in Newport.

“The UK Government has already vastly expanded the nation’s testing capabilities, more than doubling the existing capacity of our NHS and PHE laboratories. This rapid expansion means we now have the largest network of diagnostic testing facilities in British history, a huge achievement. I want to pay tribute to everyone who has worked so hard to deliver this, particularly those in Wales. They have been crucial partners in scaling up the UK’s testing capacity over the last 4 months and will continue to be as we fight against this virus.”

Cari-Anne Quinn, CEO, Life Sciences Hub Wales, said:

“PerkinElmer’s continued work to develop Covid-19 testing capacity in Wales is a clear demonstration of the world-class life sciences industry that exists here.

‘This project will enhance and grow the sector in Wales, providing an opportunity to develop and train life science professionals for the future."
Full release -


Cardiff
Global Collaboration Establishes Wales’ National Covid-19 Testing Laboratory
17 June 2020

“We have a thriving life sciences sector in Wales, which has been playing a key part in producing urgently needed products not only for Wales, but as part of the global response to the pandemic."
Full release -


I note CEO, Julian Baines, recent frustration, but hopefully, given the PHW announcement and commentary, EKF will be able to play its part in the Welsh (and national) effort too.

[cokehookerscars] 21/8/2020 17:52

How does what EKF are doing compare to Avacta scientifically ? Commercially ?

[wan] 21/8/2020 15:54

Mirandaj....It was not a criticism. Take a closer look at the Renalytix announcement to get another insight into Mount Sinai's underlying strengths and expertise.

[mirandaj] 21/8/2020 15:17

442 wan
Agreed. Just interesting to see.

[retirementfund] 21/8/2020 14:38

Another 12%+ on the value of our Renx investment everyday this just keep getting better holding very tight

[wan] 21/8/2020 14:32

I believe there is more of a read-across to EKF than just the Renalytix share price!

[firtashia] 21/8/2020 14:32

Really great informative discussion on this BB. Makes me want to hold the shares for that reason alone, irrespective of the company fundamentals :-) Many thanks to those posters especially over the last couple of days.

[mirandaj] 21/8/2020 10:26

Today EKF's shares in RENX are worth approximately £16.6 million

[wan] 21/8/2020 07:54

Re post 436....Just because it's a saliva test does not mean it's particularly quick. To be clear, it's ultimately a PCR test (molecular) that received FDA EUA last week and its use is limited to authorised laboratories.

Nonetheless, it skips a particular step and helps mitigate certain supply constraints, which could be helpful. When I looked at it last week, my assessment is that it is compatible with the use of PrimeStore MTM, in fact PrimeStore appeared to offer further advantages e.g. no inactivation step required (which is required as part of the test procedure).

Anyway, and as the article highlights, we need lot's of different tests to address the huge demand and different settings etc.

And to repeat a previous post (258), regarding the distinct possibility of the use of PrimeStore MTM in saliva testing -

I have been interested in the development of rapid saliva based COVID-19 tests, which I think have the potential to make for an even larger PrimeStore MTM opportunity. I am going to start by partially repeating some of what I have already stated.

Currently, EKF do not market an actual COVID-19 test. One of my main thrusts and the point also made by Victoria Stevens from the Lion Trust (post 171), is that some tests that are in development will never make it to market, or some tests already on the market that prove to be inaccurate will ultimately fail to gain a decent market share(some have already received FDA warnings). Whereas EKF's COVID offering targets safe sample collection and transport and is thus not so dependant upon the success of a particular test.

The lions share of FDA authorised tests are molecular (PCR) tests, most of which require sample collection via a transport media, such as PrimeStore MTM provided by EKF.

The PrimeStore MTM is applicable to a good percentage of the PCR testing market and not overly reliant on a specific PCR test. But in any regard, I don't believe the authorities will want to be overly reliant on any one particular type of test. And the multiple attributes of PrimeStore MTM gives us good exposure to the current COVID-19 testing market, and probably not (unfortunately) just for the current pandemic! And as we approach the flu season, to this we can now add tests that are capable of multiple testing/differentiating between flu and COVID-19 and for which primeStore MTM is particularly suitable.

However, PrimeStore MTM may give EKF exposure to even more testing, and potentially on an even greater scale than the current PCR testing and across a wider range of settings!

An important aspect in the the following article is that the test is based on the use of a saliva sample, which compared to samples extracted via nasal and throat swabs, is far more comfortable, and potentially removes the swab element which has suffered from supply constraints. The trial is for a new test based on a rapid method, known as RT-Lamp, and takes around 20 minutes, compared to several hours for PCR testing.

17 July 2020
Coronavirus: Would you spit in a tube every week to end the pandemic?



EKF is not mentioned in the above article which is based on UK research and a ongoing live public-use trial. However, I can confirm that PrimeStore MTM has already been used in the US for a saliva based, highly sensitive RT-LAMP assay that provides results in as little as 30 minutes. But my main thrust is that PrimeStore MTM can also be used for the collection of saliva samples (swab or pure saliva).

In the US saliva based test, a Quest VCM (viral collection media) required a inactivation protocol (amongst other things, heating to 95 degrees). However, this inactivation process was not required when using PrimeStore MTM, as well as the important fact that the PrimeStore MTM sample is inactivated and safe from the point of collection.

This US development is compatible with current collection methods (not just PrimeStore MTM) in which swabs are placed into a large volume of collection media, as well samples of straight saliva. This inactivation (not required for PrimeStore MTM) and purification scheme and RT-LAMP assay are simple and fast, relatively inexpensive, and do not rely on specialised equipment thereby enabling its use in a wider range of settings. Tests of these protocols in clinical settings are underway, with preliminary results looking promising.

The following recent UK.GOV press release is also encouraging -

Press release
New saliva test for coronavirus piloted in Southampton

In addition to the new application of using saliva from Optigene being piloted in Southampton, we are currently exploring the potential of other no-swab saliva-based coronavirus tests with companies, including Chronomics, Avacta, MAP Science and Oxford Nanoimaging (ONI). We are also working with a number of suppliers, including DNA Genotek, International Scientific Supplies Ltd, Isohelix and other leading manufacturers, to develop bespoke saliva collection kits and scale up manufacturing for products that can be used with existing PCR tests.


A recent Longhorn PrimeStore MTM development that caught my attention was for new and additional wide mouth tubes that provide users with more options. And this appears to fit well with the developments highlighted above.

In my opinion only, these developments in conjunction with other attributes of PrimeStore MTM, indicate that there could be, at the very least, a significant increase in the size of the addressable market for PrimeStore MTM.

[buywell3] 21/8/2020 06:44

Looks like a ---- New Quick $20 spit test to be used in America



Yale University researchers have developed a saliva-based assay that is easier to administer and analyze than the standard nasal swabs and can be manufactured using a range of chemical suppliers.

The FDA granted the COVID-19 diagnostic test, called SalivaDirect, an emergency use authorization last week.

[masurenguy] 20/8/2020 15:33

Interesting mix of institutional and personal investors.

Harwood Capital: 136,113,591: 29.94% *
Canaccord Genuity Wealth Mgt: 27,892,136: 6.14%
Schroder Investment Mgt: 22,586,000: 4.97%
Lombard Odier Asset Mgt: 21,998,711: 4.83%
Mr William Pippin: 16,189,675: 3.56%
Stockinvest: 15,635,000: 3.44%
Chelverton Asset Mgt: 15,500,000: 3.41%
Top 7 Shareholders own 56.29%

* Harwood Capital is a Fund Management Group run by Christopher Mills who is the Non-Executive Chairman of EKF.

[wan] 20/8/2020 15:32

It is indeed Verici ;-)

[mad foetus] 20/8/2020 15:30

If you hold RENX a month ago you also got the shares in the spin off they are planning whose name I forget (verici?)

[wan] 20/8/2020 14:51

As some of us did with Renalytix, you needed to look way beyond the initial profit/dividend (which was arguably tempting for some) I hold all my Renalytix in specie shares plus more.

I imagine that I will be doing exactly the same with the eventual Trellus Health in specie shares.

[james188] 20/8/2020 14:49

Wan,

I also want to add my thanks for your numerous first rate posts on this board.

I think that EKF still flies somewhat under the radar compared to a number of other prominent small cap life sciences/healthcare stocks listed on AIM. Look at the recent turbocharged performance of the likes of BYOT and SNG, for example - neither of which are anywhere near the quality of EKF, in my view.I first came across the stock when I noticed that a leading small cap fund investor (VT Downing Unique Opportunities - Rosemary Banyard)who is invested quite heavily in another healthcare stock that I hold had also invested in EKF. That was the trigger for me to do further research and then to initiate a position.

As and when the company achieves greater coverage, I think that there is a very good chance that it will rerate. In the meantime, the relatively low profile of the company has its advantages.

[bones] 20/8/2020 14:27

Sounds like about 3.1p per EKF share is represented by the RENX holding still held by EKF itself. The rest of the RENX value mentioned by N+1 is the actual RENX shares distributed to the shareholders of EKF on spin-out so no longer represented in the EKF share price today.

Interesting to note that RENX has a bigger market cap than EKF these days.

[mad foetus] 20/8/2020 14:25

Makes sense, but doesn't really help with the valuation today

[74tom] 20/8/2020 14:09

I think they are highlighting the total value per EKF share that has been received from the RENX spin off to date - so the dividend in specie that was distributed to shareholders at the end of 2018 and which continues to grow + the 2.678m RENX shares still held by EKF on the balance sheet.

[mad foetus] 20/8/2020 14:01

Thanks Simon, but I am baffled why they aren't holding them all on the balance sheet?

[crazycoops] 20/8/2020 13:55

So, I contacted the N+1 Singer analyst about the apparent typo and this is the clarification I received, "No, 27.9p is correct. This is made up of the 20.965m RENX shares distributed to EKF in specie + the 2.678m shares currently held on the Balance Sheet x 535p / 454.1m EKF shares in issue = 27.9p / EKF share"I am happy to put the record straight and will now go back to lurking.