SciBase: Positive News flow
Redeye maintains its optimistic view on SciBase following the Q1 report. The report was in line with our expectations. The company is now with the MDR passed, and the upcoming reimbursement in the US set up to take the next step that will drive growth into 2022. After looking deeper into the reimbursement levels, we have increased our price assumptions in the US from 2022.
This leads to higher estimates from 2022 and onwards. With the forecast changes that affect the long-term growth, we raise our Base case fair value to SEK 11 per share. This implies a significant potential from current share price levels.