Västra Hamnen: ViroGates - Detects COVID-19 relevance
Västra Hamnen Corporate Finance has published a research update on ViroGates following its Quarterly Report for Q1 2020. The numbers were largely in line with expectations. The bigger news is an early indication that suPAR can be helpful in triaging COVID-19 patients, writes Västra Hamnen.
- suPAR determines severity of COVID-19 in preliminary study
- Steady increase in hospitals evaluating suPARnostic® for clinical use
- We keep our valuation interval unchanged
ViroGates published its quarterly report for Q1 2020 last week. The figures showed somewhat lower revenues, but even lower costs compared with our expectations, yielding a net profit slightly better than our estimates. The report was however overshadowed by the news last Thursday that ViroGates’ suPAR test has shown to be relevant in triaging COVID-19 patients. Clinical results show that suPAR has significant predictive power in identifying which patients are likely to develop severe respiratory failure (SRF). This is highly interesting with respect to future sales of ViroGates’ products.
The full report is available here.
The research report is prepared as part of Market Focus, Västra Hamnen Corporate Finance's commissioned research offering.