Ortoma Q4’2024: Continued strong progress at year-end - Redeye
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Ortoma Q4’2024: Continued strong progress at year-end - Redeye

Redeye makes some revisions based on the Q4 report. The milestones did not arrive as expected in the quarter; however, the sales based on the DePuy agreement yielded better results. The milestones will come; we see this as a timing issue. We have pushed our milestone expectation to arrive in 2025e as the level was lower in the quarter. The progress continues, with a lot of positives to come during 2025e. With the rolling over to a new year and a slight WACC change, our fair value range and the Base case increases to SEK 23 (20) per share. Following this report, we also change the lead analyst.

Redeye makes some revisions based on the Q4 report. The milestones did not arrive as expected in the quarter; however, the sales based on the DePuy agreement yielded better results. The milestones will come; we see this as a timing issue. We have pushed our milestone expectation to arrive in 2025e as the level was lower in the quarter. The progress continues, with a lot of positives to come during 2025e. With the rolling over to a new year and a slight WACC change, our fair value range and the Base case increases to SEK 23 (20) per share. Following this report, we also change the lead analyst.
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