IR-Center Handelsblatt
Unternehmenssuche:

Edison Investment Research Limited (UK)

News Detail

EQS-News News vom 03.05.2017

Edison issues outlook on Abzena (ABZA)

EQS-News: Edison Investment Research Limited / Key word(s): Research Update

03-May-2017 / 12:57 GMT/BST


London, UK, 3 May 2017

Edison issues outlook on Abzena (ABZA)

Abzena recently announced a placing of £25m gross (issuing 75.8m new shares at 33p) to expand its service offering, capacity and capabilities. Importantly, we expect this fund-raising to take Abzena to profitability, which will be a significant milestone for the company. We have increased our valuation to £132m (vs £105m), primarily due to the increase in forecast service revenues, improved gross margin and cash position.

We have raised our rNPV to £132m (vs £105m) primarily due to the increase in forecast service revenues, improved gross margin and increase in cash. This has been slightly tempered as we have also increased the percentage of group admin costs relating to the service business to 90% (vs 70%). We have also rolled the model forward by three months and incorporated the estimated FY17 cash position of £4.1m and included the £23.9m net fund-raising cash. We maintain our assumptions around the Abzena inside clinical pipeline at this stage. We believe Abzena is well positioned following its fund-raising to grow its integrated service offering and, as its Abzena inside products move through the clinic and onto the market, we expect upside to our current estimates.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website
www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

Contact details: Learn more at www.edisongroup.com and connect with Edison on:

LinkedIn https://www.linkedin.com/company/edison-investment-research
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv


Dissemination of a UK FINANCIAL NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


End of Announcement - EQS News Service

show this