Redeye returns with an update on FluoGuide, which is set to enter a catalyst-rich 2026 with multiple key milestones ahead. In conjunction with this update, we have revised our valuation model to better reflect the distinct development paths and commercial potential of the projects in the portfolio. While this results in a lower valuation range, we still see a significant upside of ~100% to our base case. This update marks the transition of the lead analyst from Christian Binder to Filip Lindkvist.
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