Today's trading update confirms Proxima 4's CE Mark is expected soon and that preparations are on track for a first launch before year-end. A distributor for Italy has been appointed and we expect the European regions not addressed by the in-house sales team to be next on the agenda. Other pre-launch activities are also progressing well, including improved connectivity with electronic patient records, further major hospitals undergoing evaluations, and the Welsh manufacturing facility coming on stream. Our three-phase DCF-based model yields a valuation of £14.4m, equivalent to 10.2p per share, but we expect this to rise materially to reflect the risk reduction when the CE Mark is received.
21 Jul 2016
CE Mark expected shortly, launch preparations on track
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
CE Mark expected shortly, launch preparations on track
Sphere Medical Holding (SPHR:LON) | 0 0 0.0% | Mkt Cap: 0.037m
- Published:
21 Jul 2016 -
Author:
Franc Gregori -
Pages:
3
Today's trading update confirms Proxima 4's CE Mark is expected soon and that preparations are on track for a first launch before year-end. A distributor for Italy has been appointed and we expect the European regions not addressed by the in-house sales team to be next on the agenda. Other pre-launch activities are also progressing well, including improved connectivity with electronic patient records, further major hospitals undergoing evaluations, and the Welsh manufacturing facility coming on stream. Our three-phase DCF-based model yields a valuation of £14.4m, equivalent to 10.2p per share, but we expect this to rise materially to reflect the risk reduction when the CE Mark is received.