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I said it every time he appeared on screen - looked uncomfortable, scruffy, nervous, out of his depth.
An absolute shambles of an appointment.
He certainly pulled the wool over our eyes!
We don't need a ceo with a detailed knowledge of molecular diagnostics we already have plenty of staff capable to do that.
We need a ceo who understands the potential of the technology and can sell and persuade others and by dynamic and invigorating to go get out and sell novacyt to the world, extolling their virtues and what sets nova apart from its competitors,
DA was so so bad and the antithesis of whats needed. I still can't believe he got the job, over a year wasted.
@Larry all that sounds very promising thats why after the last DA presentation I was reasonably reassured.
The problem i have now is that none of those words are actually translating into actions.
And whilst nova seem to be treading water other players are filling those gaps.
There have been a few gilt edged opportunities that I personally thought were right up nova's Street but nothing seems to have happened.
They could have bid for those and been unsuccessful i suppose but I've not even heard on the grapevine anything about them bidding.
We've not had a positive, well worded RNS now since before GM left, at least 1 that resulted in an improved SP.
I want to hear of new sales and new markets and not from diligent PIs but from them.
Its like there's a total news blackout now and I don't know why.
Industry magazines are cover to cover now with near patient testing equipment. The world isn't standing still waiting for nova to get its act together.
Its just so frustrating, when I invested i invested in a dynamic, agile, cutting edge company. Because of their small but well skilled team they could react quickly to rapidly changing demands.
All thats gone now buried in a cloud of secrecy and inaction and for the life of me don't know why.
They need solid recurring, growing revenue, organic growth to coin a phrase,
I just see a rotting husk atm.
I'm not being negative per se, im just telling it how I see it now.
Not sure how much more jam tomorrow stuff i can swallow anymore.
BOD should be ashamed drawing a wage now
My bet is that the next CEO would be someone who is already a chairman / or CEO of a diagnostic molecular company that is lined up to merge with Novacyt . James McCarthy is just keeping the seat warm for that person to come in once the merger is announced .
What we need now is CEO who has EXPERIENCE IN MOLECULAR DIAGNOSTICS already , has solid contact / network base and therefore can build a company up to mid cap . We don't need another wana be CEO .
Lets say David Allmond was a waste of salary .
How much did Novacyt actually pay to hire this guy ( ? £500K for 13 months )who went silent for 100 days before we got a interview . Even that was just some fancy corporate word presentation with no substance behind it , sprinkle some sniffles and a scruffy jumper to the audience and hey ho we have David Allmond , CEO of Novacyt . Anyone know what he is up to now ? Probably looking for another pay day some where else to fund his jumper collection .
are we sure salad man had a strategy? i remember there was a toblerone graph that showed spikes in profit - reacting to a series of plagues....dropping back to the same sort of base
i suspect that may been the problem - they finally realised that it was all word salad and sacked him.
the question is what is happening now? are we just treading water as they are scared of making the same mistake?
Of course earth has stopped turning with DA leaving.
The 200 ppl hired are waiting for a New ceo while doing nothing, the other BoD members are doing nothing too, at best looking for a New CEO.
BoD had agreed with that strategy, even if something made them thank DA later.
The development of such multiplex i quoted above is a good strategy.
And in the meantime, until theyre all ready and launched, selling others assays is also good.
Versalab is starting to expand into diagnostic diseases in general.
Even the American Society for microbiology tells multiplex are important. and thats what ncyt seems to be developping.
https://asm.org/Press-Releases/2023/March/PCR-Panels-Reduce-Costs,-Hospitalizations-and-Anti
"You're quoting DA's strategy, he left 6 months ago. New CEO will have a new strategy and focus may be the same or not. Either way you can't expect the BoD to implement a strategy that was overseen by someone who then left under a cloud."
Why not? Maybe DA was fired because he wasn't delivering the company strategy. It's not football that when the manager get's sacked the new one comes in with his own tactics.
Did JW know BE before he took on the position as chairman at Proton DX in July 21?
Evening BH , if my memory serves me correctly, the strategy was decided upon after consultation with clients , as to what products they wanted to see developed. So if that is the case , then I hope that Novacyt R&D are well on their way to nearing completion of them.
But as ever time will tell.
You're quoting DA's strategy, he left 6 months ago. New CEO will have a new strategy and focus may be the same or not. Either way you can't expect the BoD to implement a strategy that was overseen by someone who then left under a cloud.
JMcC has a great CV but he has no exp of small cap leadership or business, a safe pair of hands as interim but NCYT needs an experienced small cap CEO from a sales background
Kaeren / KilkennyTed , that's great stuff that Novacyt have the test needed for this candida species . What we need is a sales force to close some big contracts. As I have said previously , this company has the potential to be mid cap but it needs to win some big contracts or accumulated huge numbers of small contracts to generate revenue.
HI Ventura agree , communication is key in all walks of life , you know it , I know it and so do they !
And as if by magic WBAFC
https://twitter.com/KilkennyTed/status/1638223035776868352?t=6yJtAfJvFYhuXGzQ_Asj6A&s=19
Shame they're not exhibiting any sign of news to us K.
Nothing in the pipeline at all... Yeaaaah yeah...
"the Company will initially focus on the following therapeutic areas for organic R&D investment:
· Seasonal respiratory diseases, where the testing market is estimated to be worth approximately $1.4bn and is growing at a CAGR of approximately 4%. Through its research, Novacyt has confirmed it is already on the right track with its ongoing development of a respiratory panel for COVID-19 combining influenza A/B and RSV A/B (WinterpanelTM). The Company is also evaluating the need for additional respiratory panels, including atypical pneumonia to cover bacteria, such as bordetella, legionella and mycoplasma, and panels for other respiratory viruses such as parainfluenza, adenovirus and rhinovirus.
· Gastro-intestinal (GI) infections and is embarking on the development of viral panels covering viruses such as norovirus, rotavirus and adenovirus and a bacterial panel to include bacteria such as clostridium difficile, salmonella, shigella. These panels will be designed for a near-patient workflow that can be deployed in "spoke labs" such as in medium district general hospitals, community hospitals, hospital wards or for example in nursing homes, amongst other possible settings. The global GI testing market is estimated to be worth over $630m and is growing at a CAGR of approximately 5%.
· The Company had, prior to undertaking its market research, embarked on developing single analyte transplant products for cytomegalovirus, Epstein-Barr virus and BK virus infections on its genesig® platform, which can be run on existing laboratory systems, with extraction, where sample flexibility and sensitivity are key, and quantification of viral load is required. The Company continues to see this as a growth opportunity, with the global transplant market for monitoring viral load in immunocompromised patients estimated to be worth $151m with a CAGR of approximately 5%.
· Novacyt is embarking on the development of a viral panel for insect borne diseases, such as Dengue, Zika and Yellow fever, where the Company already has RUO assays. As mosquitos' habitats expand, rates of these associated diseases are increasing and have become a priority for the WHO, which has led to the launch of the organisation's Global Arbovirus Initiative. Including this panel in the development strategy not only expands its test menu and serves unmet needs, in combination with its near patient workflow, but also aligns squarely with the Company's "global first responder" strategy of tackling outbreaks and supporting neglected tropical disease diagnosis. The global market for insect borne viral diseases is estimated to be worth $156m, growing at a CAGR of approximately 5%."
Then he better up the anti :)
As the lower sp goes, the more, many will possibly buy as a "Punt"
Plus, also allowing those that bought at the higher end, the opportunity to lower average, should they see fit to?
Dyor all imo
* out
The potential is ou there for novacyt to tap into big contracts , like the one causing candida outbreak in the USA . BUT , you need dynamic ambitious hungry board of directors who want to . My feeling is that , and i am a big share holder of 108,125 novacyt shares , is that James Wakefield is looking to take this company private and shake out private investors .
https://uk.yahoo.com/news/worrisome-deadly-fungus-spreading-us-232400902.html
I see what you mean PI100.
ATB
Wilson....please start a regime of sit ups ...if you want to join a team meet.
We want to look lean and mean...
like we have been suffering and can't afford to eat...due to losses in share .
Remember the camera puts 10 pounds on !
That might be why some will be shy! Lol
Unless you can make any sense of this business textbook vomit from the Jan 2023 RNS.
"During 2022, the Company made good progress transitioning away from COVID-19 revenue and beginning to deliver against its growth strategy, as outlined at the full year 2021 results. This included diversification of its diagnostic portfolio through internal R&D, such as the enhancement of its integrated and scalable molecular workflow capability and a focus on high growth target infectious disease areas, as well as through strategic partnerships, such as the distribution agreement signed with Clonit srl, which provided Novacyt with immediate access to over 40 CE marked assays. At the same time, the Company relaunched its extensive research-use-only portfolio and has continued to be a global first responder in infectious diseases."