Avacta listed in the UK are developing a covid antigen test and have recently announced that BBI will be their manufacturing partner. They also note that they are expecting demand to be extremely high and are looking for additional manufacturing capability.
The share price has risen from around AUD $100m equivalent to around $650m since April (minimum revenue and a net loss in fy19). It looks like their test is still being designed/developed, I can’t see what sensitivity they’re expecting but a few articles have said they’re continuously trying to improve it - I feel like if it was high 90’s they’d be announcing it
All signs are indicating that there is room for a few players in this space. If we can announce a partner and progress in the next few weeks it should be a great time to be a holder
ADO Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
