* We maintain our valuation interval of SEK 46.60 – 62.80 per share
Magle Chemoswed’s report for the third quarter illustrated the impressive
advances made with regards to the company’s degradable starch microsphere
(DSM) technology platform. The acquisition of PharmaCept is set to accelerate
the future launch of the company’s DSM products. This entails Magle Chemoswed
is on course to fulfil its objective of having five DSM products on the market
by the end of 2022. Furthermore, revenue and EBIT in Q3 increased by 12 and 81
percent respectively compared to Q3 2020. This report confirms the growth
trajectory we have forecast, and we therefore only make minor adjustments to
our valuation model. Hence, we maintain our valuation interval of SEK 46.60 –
62.80 per share.
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