Biocorp announced a 23% increase of revenues for H1-2016 and a new partnership in connected health
Biocorp is a medical device supplier for large pharmaceutical companies, and reported encouraging interim results. The company recorded a 23% increase of its revenue to €1.6 M, mainly attributedto sales on its historical activity. On the other hand, the company reported a 32% increase in operational expenses (€3.7 M), mainly due to investments made to support and anticipate the growthof the company’s business. Net loss for the first half of 2016 was €1.9 M, compared to €0.8 M as of June 30th, 2015. Biocorp also announced a partnership agreement with the Aguettant Laboratory,for its connected device Easylog, in the field of Parkinson’s disease. This is the third partnership that Biocorp has secured since the beginning of the year for its connected devices. It is therefore a strong recognition for Biocorp’s knowhow in developing connected technologies. With this partnership, the company is one step closer to its ambition of becoming a leading player in the emerging and highly promising market of connected health. Consequently to this partnership and taking into account Biocorp’s perspectives, we increased our target price to € 17.62/share.
Biocorp Production SA is a France-based company, which is specialised in the development and manufacturing of medical and drug delivery devices.
First French company dedicated to life sciences and healthcare company financing, Aurgalys assists private or listed companies during capital increase, provides equity research or valuation services, takes care of investor relations and assists the management for their strategy and business development. Listing Sponsor Alternext (NYSE Euronext). Conseil en Investissement Financier ORIAS - ACIFTE.
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