Read on Twitter
(1/9)
Following Sona Nano update may have escaped a few given the recent excitement.
"received expressions of interest for tens of millions of its a COVID-19 rapid detection. . .test and has secured non-binding letters of intent for 4.7 million"
#AVCT
https://sonanano.com/sona-nanotech-engages-mriglobal-for-covid-19-test-validation-studies/
Following Sona Nano update may have escaped a few given the recent excitement.
"received expressions of interest for tens of millions of its a COVID-19 rapid detection. . .test and has secured non-binding letters of intent for 4.7 million"
#AVCT
https://sonanano.com/sona-nanotech-engages-mriglobal-for-covid-19-test-validation-studies/
(2/9)
"of its tests, subject to test performance parameters and pricing."
On 12th May Sona talked about their validation being conducted "through the month of May." However, it looks to be running later than planned. Well worth following for an idea of the process ahead.
"of its tests, subject to test performance parameters and pricing."
On 12th May Sona talked about their validation being conducted "through the month of May." However, it looks to be running later than planned. Well worth following for an idea of the process ahead.
(3/9)
Its unclear as to how Sona are marketing their products. I've found no evidence of a DTC model set up.
Despite that they have already received expressions of interests in the 10s of millions for an unvalidated test.
A clear signal that the market appetite is out there.
Its unclear as to how Sona are marketing their products. I've found no evidence of a DTC model set up.
Despite that they have already received expressions of interests in the 10s of millions for an unvalidated test.
A clear signal that the market appetite is out there.
(4/9)
With this "final validation process" I think Sona should be out to market by earliest mid June.
A reminder on AVCT on news flow.
Note the clinical validation for CE mark/FDA approval for "sale to healthcare professionals" runs separate to "sale direct to consumers."
With this "final validation process" I think Sona should be out to market by earliest mid June.
A reminder on AVCT on news flow.
Note the clinical validation for CE mark/FDA approval for "sale to healthcare professionals" runs separate to "sale direct to consumers."
(5/9)
Two separate items. So the healthcare professional test (and BAMS test) should come earlier.
Note the investor presentation slide 24.
Two separate items. So the healthcare professional test (and BAMS test) should come earlier.
Note the investor presentation slide 24.
(6/9)
At c. 45 mins in Dr Smith stated that in terms of UK clinical validation sites, they are in the "process of putting those sites in place" that are "able to handle real patient samples with live virus."
which is same as Sona embarked upon with MRIGlobal as of 22nd May.
At c. 45 mins in Dr Smith stated that in terms of UK clinical validation sites, they are in the "process of putting those sites in place" that are "able to handle real patient samples with live virus."
which is same as Sona embarked upon with MRIGlobal as of 22nd May.
(7/9)
That places AVCT and its partners much closer to the Sona Nano project than previously thought.
However, I raise Sona's progress and test orders not because I see them as competition but to demonstrate what we can shortly expect of AVCT. https://www.theguardian.com/business/2020/may/21/boohoo-founders-team-up-with-biotech-firm-for-covid-19-home-test-kit-uk-july?utm_term=Autofeed&CMP=twt_gu&utm_medium&utm_source=Twitter#Echobox=1590038526
That places AVCT and its partners much closer to the Sona Nano project than previously thought.
However, I raise Sona's progress and test orders not because I see them as competition but to demonstrate what we can shortly expect of AVCT. https://www.theguardian.com/business/2020/may/21/boohoo-founders-team-up-with-biotech-firm-for-covid-19-home-test-kit-uk-july?utm_term=Autofeed&CMP=twt_gu&utm_medium&utm_source=Twitter#Echobox=1590038526
(7/9)
Key quote from the above article ;
"The company said it had had inquiries from firms that wanted to test staff to ensure they are healthy before they return to work."
AVCT is already at the stage of "expressions of interest," they just haven't announced them yet.
Key quote from the above article ;
"The company said it had had inquiries from firms that wanted to test staff to ensure they are healthy before they return to work."
AVCT is already at the stage of "expressions of interest," they just haven't announced them yet.
(8/9)
Sona have set the precedent at "10s of millions."
The AVCT test is merely a matter weeks behind Sona in terms of progress. Lack of validation doesn't stop those orders coming through.
Be it they would be healthcare professional based to begin with.
Sona have set the precedent at "10s of millions."
The AVCT test is merely a matter weeks behind Sona in terms of progress. Lack of validation doesn't stop those orders coming through.
Be it they would be healthcare professional based to begin with.
(9/9)
After much investigation, I feel that the Sona test has a problem somewhere but that's purely my opinion only.
That aside, the early interest is demonstrating the expected demand is indeed real and better still AVCT looked to be far more on the ball than Sona to date.
After much investigation, I feel that the Sona test has a problem somewhere but that's purely my opinion only.
That aside, the early interest is demonstrating the expected demand is indeed real and better still AVCT looked to be far more on the ball than Sona to date.
