Avacta Group 🧫🔬(AVCT) - Stock Discussion

Avacta Group is a Bio-Technology company focusing on “cancer treatments with powerful therapeutic and diagnostic platforms.”

They have also used this technology to devise a COVID-19 rapid diagnostic test. They updated the market this morning that their technology maybe a potential therapy for blocking Covid-19.

https://avacta.com/sars-cov-2-neutralising-affimers-potential-for-a-covid-19-therapy/

Would like to see Avacta added :+1:

AVCT enters into a partnership with Mologic which uses ODX technologies.

All waiting for government contracts… does anyone have a discussion point on this please?

Under valued? Good entry point at 134.25p?

If you look up Myles McNulty on Twitter, the guy is an absolute guru when it comes to this company. Long story short, if their test results get validated in a clinical setting (should find out about that in the next 2-3 weeks) then its going to go through the roof. Still a great entry point. Long term, their revolutionary cancer treatments are the real play but the Covid test is the thing most people are focused on. I opened a small position this month. Plan to hold for at least 6 months or so, hopefully catch the upside from a successful Covid test and and build up a deeper knowledge of the company to decide if they are a good long term hold (3 years+) or not. Of course, if the Covid test hits the skids or gets further delayed there will likely be a sharp contraction but I think its becoming clearer by the day that mass testing is going to be here for a good while yet and it is better to be late to the party with potentially the most reliable rapid test in the world than rush something out that only half works.

3 Likes

Thank you Alex! :blush:

Great news for Avacta

2 Likes

Huge. Expecting mega price action on Monday and huge announcements from the prime minister down. Got in late with this stock at 1.50 but high hopes it will multibag from here.

https://avacta.com/avacta-announces-first-patient-dosed-in-ava6000-pro-doxorubicin-phase-1-clinical-trial/

Does anyone know why this is slipping?:face_with_monocle:

There doesn’t seem to be any particular reason that I can see, but hope it picks up again.

I got out of it today. Sick of seeing red😔

May that is the right choice…I’m pondering…

Just drops everytime I login. Hopefully it can bounce back but it seems to be a steady fall.

@micker
Do you know what driving the price down? 🥲

RNS issued today:
Mon, 10th Jan 2022 07:00
RNS Number : 8873X
Avacta Group PLC
10 January 2022

10 January 2022

Avacta Group plc

(“Avacta” or “the Group” or “the Company”)

Update on AffiDX® SARS-CoV-2 antigen lateral flow test and detection of the Omicron variant

Avacta Group plc (AIM: AVCT), a clinical stage biopharmaceutical company developing innovative cancer therapies and powerful diagnostics based on its proprietary Affimer® and pre|CISION™ platforms, provides an update on the performance of the AffiDX® SARS-CoV-2 antigen lateral flow test (LFT) with the Omicron variant.

The performance of all rapid antigen tests has come under recent scrutiny in light of the large number of mutations in the Omicron variant of the SARS-CoV-2 virus and the US Food and Drug Administration, as well as other sources, has indicated that antigen tests generally will detect the Omicron variant but may have reduced sensitivity.[1]

As reported on 15 December 2021, the AffiDX® SARS-CoV-2 antigen test has been shown to detect the Omicron variant of the SARS-CoV-2 virus in patient samples in a small clinical study. Whilst the AffiDX® antigen test is effective at identifying high viral loads of Omicron, further laboratory analysis carried out by Avacta indicates that the sensitivity of the test is reduced at lower viral loads when compared with the sensitivity of the AffiDX® test with previous SARS-CoV-2 variants.

The AffiDX® SARS CoV-2 antigen lateral flow test contains both a proprietary Affimer® reagent and a commercially available antibody. Our data show that the Affimer® reagent in the AffiDX® test detects the Omicron variant with the same sensitivity as the Delta variant, and it is the performance of the antibody, with which the Affimer® is paired in the test, that has been affected by the additional Omicron mutations. The Company has therefore independently taken the decision to pause sales of the AffiDX® antigen test whilst it replaces the antibody in the product to ensure that its performance with the Omicron variant matches the high performance with previous mutations.

Alastair Smith, Chief Executive of Avacta Group, commented:

"The continued high performance of the Affimer® reagent in the AffiDX® antigen test, despite the large number of mutations in the Omicron variant, is testament to the robustness of our platform technology.

"As a responsible business, we set very high standards for ourselves and our products and have continually kept the performance of the AffiDX® antigen test under review as new SARS-CoV-2 variants have arisen. Our determination to only provide high quality, high performance diagnostic tests has led us to the correct decision to pause all marketing of the AffiDX® lateral flow antigen test. We have, of course, been unable to market the product in the UK since October 2021, as the product continues to await approval under the new CTDA regulatory process.

"We believe COVID-19 testing remains a long-term commercial opportunity. We will therefore use the robustness of the Affimer® platform, and what we have learned about the SARS-CoV-2 virus, to generate the next generation antigen test that will be as resilient as possible to any future mutations.

“The performance of other marketed SARS-CoV-2 antigen lateral flow tests may well be adversely affected by the Omicron variant. This mutant is already the dominant SARS-CoV-2 variant in many countries and may soon be the dominant variant globally. We therefore believe it is essential that similar Omicron sensitivity studies be performed on all SARS-CoV-2 antigen tests and the results communicated to ensure the public can have confidence in the results these tests generate.”

ENDS

1 Like

@SteveAvia
Thank you for sharing this.

Is there any hope of spike again?

It’s amazing stock. Will be a very good RNS shortly. Its a quality stock and will be a unicorn shortly. So buy when it’s cheap.

Time to buy more

Yes the price will spike again. Buy more now and you will see RNS soon. They will resolve this issue in next 7 days or so.

1 Like