Prolight: Pre-validation readout in Q4 sets stage for multicenter trial in 2025 - Emergers

Supported by the latest troponin data generated from whole blood samples on the final commercial cartridge design, Prolight is now ready to initiate trials with banked patient samples and fresh blood samples from patients with suspected heart attack. The first readout is expected in Q4’24, in preparation for the clinical performance study in early 2025. This should further boost interest in Prolight’s solution. With proof-of-performance for the first generation of its proprietary digital technique, focused on the rapid rule-in or rule-out of myocardial infarction by quantifying individual molecules of the protein troponin, the company is on track for IVDR certification and a 2026 launch. Additionally, the potential for future verticals, such as BNP and D-Dimer POC tests, supports a fair value of SEK 1.1-1.2 per share. While the TO6 warrants were only exercised to 45%, raising SEK 9.8m in May, the prestigious SEK 17m NIHR Innovation grant from the UK government provides welcome liquidity and runway.