30 Sep 2020
Progressing towards completion of first LIGHT system
Advanced Oncotherapy ("AVO") reported a wider H1 net loss of £12.2m (+8% YoY) as tightened administrative expenses of £9.8m (H1/2019: £11.0) were offset by increased finance cost totaling £2.4m (H1/2029: £0.59m) and a lack of tax credits (H1/2019: £0.38m). Despite the ongoing pandemic, we note that AVO has made good progress regarding both the development and initial commercialisation of LIGHT in 2020. We continue to believe in the potential for the LIGHT system to disrupt the radiotherapy market as a result of the proven clinical superiority of proton therapy ("PT"), combined with the implied economic advantages associated with linear accelerators. Now largely de-risked from a technical perspective, we see a number of important inflection points in the coming 6 - 12 months for AVO, maintaining our OUTPERFORM recommendation and GBp 135 target price.
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Progressing towards completion of first LIGHT system
Advanced Oncotherapy Plc (AVO:LON) | 1.9 0 0.0% | Mkt Cap: 10.4m
- Published:
30 Sep 2020 -
Author:
KIERON BANERJEE -
Pages:
5
Advanced Oncotherapy ("AVO") reported a wider H1 net loss of £12.2m (+8% YoY) as tightened administrative expenses of £9.8m (H1/2019: £11.0) were offset by increased finance cost totaling £2.4m (H1/2029: £0.59m) and a lack of tax credits (H1/2019: £0.38m). Despite the ongoing pandemic, we note that AVO has made good progress regarding both the development and initial commercialisation of LIGHT in 2020. We continue to believe in the potential for the LIGHT system to disrupt the radiotherapy market as a result of the proven clinical superiority of proton therapy ("PT"), combined with the implied economic advantages associated with linear accelerators. Now largely de-risked from a technical perspective, we see a number of important inflection points in the coming 6 - 12 months for AVO, maintaining our OUTPERFORM recommendation and GBp 135 target price.