Abingdon’s H1 update acknowledges that Covid-19 testing will no longer support the group’s growth plans. It is therefore accelerating its plans in contract development and manufacturing, direct-to-consumer sales and in own product development, with progress achieved in each. Following the fund raise, cash stood at £5.9m at the end of December, with the £8.45m still to be received from the DHSC. Pending further visibility over the phasing of future revenues, our forecasts remain withdrawn for now, but we continue to see a meaningful potential opportunity given the substantial automated manufacturing capacity in place.