Omega Diagnostics Share Discussion Threads

[jusjusjus] 30/10/2020 10:47

10.7k accumulator, £8k at a time... counted 12 so far

[rivaldo] 30/10/2020 10:11

Terrific summary bomber13, many thanks from me too. Bring on the prospect of 2.5m tests per week....

[barrywhit] 30/10/2020 09:08

Low volume today, any sells lodged will take a time to move...

[barrywhit] 30/10/2020 08:56

Good post again bomber13...many thanks

[ant15] 30/10/2020 08:45

Bomber I echo Jurgen's post but still wonder what he was referring to when he mentioned the mystery person or organisation and didnt return to it.

[bomber13] 30/10/2020 08:34

All in all , Wednesday's update and presentation were robust , honest and realistic in classic Colin King fashion in my view , and the points below are what I felt were new and reassuring news -

1) The possibility of an additional plant in Dundee has been discarded in favour of putting more capacity into the established Alva plant . Indeed , Omega published a chart for the first time showing lateral flow test capacity rising from 200/- tests per week in October to 600/- tests per week in January , and then onto 2m tests per week by end April . The CEO went on to say that 2 1/2 m tests per week were possible after that , and that Omega already had orders to fill November’s capacity of 300/- tests per week . Moreover , this capacity expansion is fully funded by the £11m of cash raised in the June placing at 40p per share .

2) Mologic’s ELISA test for COVID 19 has seen disappointing sales because Omega cannot match the scale of laboratory testing that the likes of Roche and Abbott can achieve . However , it is not dead in the water . The RTC is awaiting self-test approval for its gold standard lateral flow antibody test from the MHRA regulatory body any day now , and it is Omega’s understanding that there is no other competing antibody self-test awaiting approval . The main government contract for this test is with Abington Health Ltd , and Omega will supply a minimum of 25% of the consortium’s requirements . From end November , any orders received above this level from organisations/countries other than the UK , Omega will be allowed to fulfil under an additional profit-sharing mechanism . Omega’s strong belief is that the antibody self-test will come into its own once COVID vaccines are available .

3) Mologic’s lateral flow saliva antigen test represents a “ huge opportunity “ , and prototypes are being validated in Liverpool , Nottingham , Heathrow Airport and elsewhere with data being described as very encouraging . The development phase is expected to complete shortly allowing for technology transfer to Omega in November , CE Marking by December , and full commercialisation by Xmas or early January . This is the Christmas present that Omega’s CEO has alluded to before now . Lateral flow antigen saliva tests , because of their ease of use and speed of result , are likely to become the test of choice , and are strongly supported by the UK , the WHO , and all major countries . Indeed , for the first time Omega made specific mention of opportunities for all of its COVID 19 tests in the USA where they have appointed a new distributor .

4) Visitect CD4 for HIV sufferers is on track and gaining traction towards the 6m tests pa that are needed . This traction is coming from CHAI , PEPFAR , MSF , and , most recently , the UN agencies . Discussions with the latter are described as very encouraging for 2021 budgets . Omega’s selling price is US$4 per test at 70% gross margin , and the group is hopeful of lowering the roughly £1 per test cost of goods sold by half , which implies gross margins potentially rising to 85% .

5) October has witnessed a sharp recovery in Food Intolerance sales across the board from the previous 6 months of COVID effects , and the group has strong expectations that the market has bottomed . China remains a massive opportunity in self-test , and approval is expected any day . With priorities having been focussed on COVID remedies by the Chinese authorities , some delay in the approval process has inevitably occurred .

Whilst there is arguably a lot of growth already priced into Omega's shareprice , there is also an awful lot of potential , and that potential is only now on the cusp of serious revenue growth without further recourse to shareholders .

[ant15] 30/10/2020 08:32

C44 I wondered if its Bill Gates but also thought If I were NCYT I might be looking to take a meaningful chunk of the company as it would extend their offering to the market. There is clearly someone in the background as he alluded to before he "bit his lip" I suppose we will have to wait but at this share price and with the company's capacity to generate such large sale volumes. You have to wonder what he was referring to.

[ayl30] 30/10/2020 07:49

https://www.thetimes.co.uk/article/coronavirus-saliva-tests-could-lift-capacity-to-1m-a-day-9hjvtgrvt?shareToken=51d61036898d4982468235162c03a888

[andymunchkin] 30/10/2020 01:22

andymunchkin19 Oct '20 - 08:07 - 12898 of 12941 Edit
0 2 1
OhMy lord itsCrashingDoon
———;——-
justtrying128 Oct '20 - 13:06 - 12908 of 12941
0 1 0
50p soon
———;——̵2;—-
Specialist is the living GOD28 Oct '20 - 13:58 - 12911 of 12941
0 0 0
25p soon. Fair value.

[rivaldo] 29/10/2020 22:54

Exactly. I've seen maybe a dozen RNS's over the last couple of weeks showing L&G reducing stakes in companies - and none where they've increased. It's as likely to be something corporate as something company-specific. Although no-one could blame L&G for taking what must be huge profits!

[hitsha1] 29/10/2020 21:01

L&G is been taken over by Fidelity investments, may be that’s why.

[upomega] 29/10/2020 18:40

I think it is now due to brent crashing again. Maybe some araaaab or ruskie will inject some funds into omega. Just hope they dont start their spat up again. I'm sure they will try though with the u.s election just around the corner

[barrywhit] 29/10/2020 18:29

Not sure about the RNS, Omega had L & G at 5.97% on the 27th October...

[owenga] 29/10/2020 18:28

They were sold yesterday from the rns

[barrywhit] 29/10/2020 18:21

They have offloaded at least 7,4 million shares no wonder we haven't bounced today..

[barrywhit] 29/10/2020 18:14

So L & G have been reducing.....Holding RNS

They have gone from 9.14% to under 5% offloaded yesterday and advised today.

They could also have offloaded today......

[searcher0] 29/10/2020 18:12

And there it is, L&G dumping into liquidity. Crossed 5% yesterday and seller again today.

Omega Diagnostics Gp - Holding(s) in Company ODX @OmegaDiagnostic hxxps://t.co/mBbRILEBus

[jusjusjus] 29/10/2020 17:57

some big boys reported late, some from yesterday

[coley15] 29/10/2020 16:24

Er, large seller. Sneller been offloading for months. Do catch up.

[searcher0] 29/10/2020 16:23

Not been wrong on those. You can't have it both ways and it doesn't take a genius to work out if the share price is being pinned it generally means you have a large seller or a placing being worked. In this case it looks to be a seller.

[upomega] 29/10/2020 16:21

I think we must surely be a takeover target now
Nxc a while ago mentioned novacyt. I'm not sure how serious he was,but he may not be far wrong.

[martin3042] 29/10/2020 15:37

Searchers last input on vast, prem and sml all about placing ahead, says it all really

[barrywhit] 29/10/2020 15:36

Lets see if we get a Holdings RNS, Sneller may be offloading or L&G..David Evans is now below 3% so we won't know about him....

But i expected a small bounce today NCYT up 23% ODX only 2%....disappointing...

[searcher0] 29/10/2020 15:12

Well lots of supply coming from somewhere. Price continues to be pinned.