Redeye provides a short comment on Ortoma’s Q2 report this morning. There are several essential steps in the quarter. The net sales figure came in slightly below what we expected but is, in our view, marginal, as the primary income was the milestone payment of SEK 16.1m. The rest consists of periodized income and sales. With the milestone and other net sales, the EBITDA for the quarter and the first six months is positive. The actual net sales will continue to be volatile as they are early in the process. We like that the company has now generated USD 3.1 million in milestones, which gives both financial stability and indicates that Ortama has reached the acceptance criteria for the deal. We expect to make small changes to our estimates. The current Base case is SEK 18.7 per share.
LÄS MER