Disappointment especially in H2/2017 hit the shares. MDxHealth's potential in prostate cancer diagnosis remains intact; creating a significant opportunity for investors. Test volumes of marketed diagnostics are growing and should accelerate with a fully installed US salesforce and expanding European distribution network. Broadening US reimbursement and product coding should see ConfirmMDx volumes translate into revenues as payment collection accelerates. Data expected during 2018 supporting the use SelectMDx in both primary diagnosis and patient monitoring should highlight the potential of this powerful prostate diagnostic and drive adoption in key clinical guidelines. With this growth and catalysts in prospect, we reinstate our OUTPERFORM recommendation (from Under Review) with a new target price of €9.
