New analysis from Västra Hamnen after the completion of the rights issue

Västra Hamnen have released a new analysis of Chordate Medical, as a result of the comapny’s Q3 report from November and the recently completed rights issue.

“The positive study results represent an important step in the process towards an exit”, Västra Hamnen in the analysis.

Västra Hamnen further write:

“Chordate’s report for the third quarter was characterized by positive study results from the migraine study (PM007). The results support the company’s scientific evidence and the focus will now be on the company’s commercial proof of concept. During the quarter, the company commenced a market introduction in Finland and participated in five international neurology congresses. We increase the probability of an exit, which in turn increases the value of the company, but due to dilution from the rights issue, the corresponding valuation range is reduced to SEK 1.46 – 2.17 from the previous SEK 1.70 – 2.70 per share.”

Västra Hamnen Corporate Finance is Chordate’s Certified Adviser, you can find the full analysis here (in Swedish).

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