The coming 12 months should mark Sphere Medical's transition into a commercial organisation as the launch of Proxima 4 across major European markets translates into revenues. The delay in receiving the CE Mark is clearly disappointing; however, the preparations for its marketing are well advanced. Updating and rolling forward our three-phase DCF-based model yields a valuation of £21.8m, equivalent to 15.4p a share, which is up from £14.4m, 10.2p per share, previously. We again remind that we expect this to rise when the CE Mark is received to reflect the effect of the reduced investment risk.
22 Sep 2016
On the cusp of commercialisation
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On the cusp of commercialisation
Sphere Medical Holding (SPHR:LON) | 0 0 0.0% | Mkt Cap: 0.037m
- Published:
22 Sep 2016 -
Author:
Franc Gregori -
Pages:
3
The coming 12 months should mark Sphere Medical's transition into a commercial organisation as the launch of Proxima 4 across major European markets translates into revenues. The delay in receiving the CE Mark is clearly disappointing; however, the preparations for its marketing are well advanced. Updating and rolling forward our three-phase DCF-based model yields a valuation of £21.8m, equivalent to 15.4p a share, which is up from £14.4m, 10.2p per share, previously. We again remind that we expect this to rise when the CE Mark is received to reflect the effect of the reduced investment risk.