As usual, there were no material surprises in Fluoguide’s Q2 report, and the company has cash to get through H1/24 at least. A major readout in aggressive glioma is due in November and we expect it to be positive, showing that lead drug FG001 offers superior tumour resection versus the standard of care. We think management has excelled at delivering on its timelines and delivering good data. We reiterate our fair equity value range of SEK 173-188 per share.
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