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Third party research

Prolight: Financing and partner interest strengthen case ahead of regulatory study - Emergers

Prolight Diagnostics

This is a third party research report and does not necessarily reflect our views or values

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In Q2, Prolight reported initial positive data from its ongoing whole blood study at St Thomas’ Hospital in London, showing equivalence between whole blood and plasma and thereby confirming the robust clinical performance of the PsyrosTM POC platform. The results from St Thomas’ Hospital are significant for advancing the ongoing discussions with potential industry partners. During the recent international congress, ADLM in Chicago, the company presented these positive data and showcased its fully operational commercial prototype which attracted strong international attention, according to the company. Together with a fully subscribed rights issue and growing international interest from potential commercial partners, the company is now in a stronger position to advance toward clinical validation and partnering. With net proceeds of approximately SEK 83m after issue costs and set-offs, Prolight has secured the resources needed to finalise development, validate pilot production, and prepare for the regulatory clinical performance study. We continue to find support for a fair value range of SEK 0.73–0.80 per share, with upside potential of SEK 1.35 based on a read-across from SpinChip.
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