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Bioservo: Commercialization progress - Redeye

Redeye saw results that did not represent a significant deviation from the expectations. The sales were up 58%, with costs trending downward. The deliveries of Carbonhand have started, and interest looks pretty high from different stakeholders. The earlier-than-expected US progress with the FDA registration is a clear positive. We only change our estimates slightly: however, the financing need adds another share issue of SEK 30 m, creating a dilution effect. We lower our Base case to SEK 3.3 per share from SEK 5 per share.

Redeye saw results that did not represent a significant deviation from the expectations. The sales were up 58%, with costs trending downward. The deliveries of Carbonhand have started, and interest looks pretty high from different stakeholders. The earlier-than-expected US progress with the FDA registration is a clear positive. We only change our estimates slightly: however, the financing need adds another share issue of SEK 30 m, creating a dilution effect. We lower our Base case to SEK 3.3 per share from SEK 5 per share.
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