CEO of Biovica:
“I have invested 10 Mil NOK in the capital raise”
“Our US team invested most of their bonuses into the capital raise. This was a great sign of confidence for me”
Important CEO quotes from the report:
- We made progress during the quarter in all three of our priority areas, which are the USA, Europe and collaboration with pharmaceutical companies.
- We have thus far announced the signing of three agreements with major hospital chains. They are with leading healthcare providers in the states of Arizona, Florida and Missouri. In total, these agreements cover approximately 50 hospitals.
- A summary from both studies will be presented as posters in December at the San Antonio Breast Cancer Symposium (SABCS), which is the world’s largest breast cancer symposium.
- We are also delighted by the enthusiasm we are seeing from oncologists who keep ordering the assay via our CLIA lab in San Diego. They have been placing regular orders, and many are even increasing the frequency of their orders.
- … we anticipate that there will be ten agreements signed with major hospital chains by the end of the financial year,
- In Europe, our goal for quite some time has been to sign partnership agreements with the five largest, most populous countries in the EU (Italy, Spain, Germany, the UK and France) plus the Nordics. We have already achieved that in Italy, and our progress with negotiations indicates that we will have another agreement signed by the end of the fiscal year.
- Subsequent to the end of the period, we signed a commercial partnership agreement for the Nordics with Axlab, which is one of the leading companies for cancer screening and diagnostics in the Nordics.
- Three new projects started up during the period, which means that we now have 19 ongoing projects for collaboration and sales to pharmaceutical companies that are developing new cancer drugs.
- With great optimism for the future, I will myself be subscribing for SEK 10 million in shares.
Quarterly report:
Presentation and Webcast
Financial Reports
Redeye Research Summary:
Biovica Q2 (August to October): Confirmation about commercial progress
The recent CMS Medicare price of USD 322 is the last progress during a quarter of improved presence, including Direct Bill, Hospital contracts, pharma partner projects and European distribution. Actual sales is in line with our expectations at SEK 2.5m, and Biovica reiterates the outlook, including higher DiviTum test volumes during calendar H1 2024. We are in the process of reviewing our Base Case (SEK 27, Bull SEK 60 and Bear SEK 5) reflecting an increased number of shares related to the ongoing rights issue.
Link to Redeye research (free with registration)
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The goal of the blog is to provide investment ideas for further research. I/we have a beneficial position in the shares discussed above either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. The article does not represent investment advice. Please do your own research before making any investment action.
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