Cheaply priced potential locked behind financing risks
SciBase's revenue growth continued in Q4 in Germany and the US, with gross margin trending upwards. In our view, the company remains operationally on a credible path to build an attractive position in its markets. We believe this potential is now very attractively priced. At the same time, the falling share price has increased financing risks (equity issue 1-3x current MCAP expected in the next ~3-6 months) and is starting to cause uncomfortably high volatility in expected returns and dilution, and we now wait for these risks to subside.
Scibase Holding
SciBase Holding är verksamt inom medicinteknik. Koncernen är specialiserad inom hantering av cancerdiagnostik, främst inriktat mot behandling och upptäckandet av diverse melanom. Bolaget har utvecklat en elektrisk handhållen prob som analyserar mätsignalen för att upptäcka specifika förändringar i kroppens hudvävnad. Huvudkontoret ligger i Stockholm.
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