Nel: Steady FY23, rising clouds for 2024/2025
NEL has reported FY2023 revenues above consensus expectations at NOK1773m (+7% vs consensus at NOK1653m, +12% vs BGe at NOK1576m), also accompanied by a lower than expected EBITDA loss of NOK474m (5% ahead of cons. at -NOK499m, +20% vs BGe at -NOK596m). NEL delivered fairly steady sequential growthNEL ASA develops diagnostic tests for early detection of diseases. Co.'s patented method is based on identifying disease-specific gene expression signatures from sample materials, such as blood. Co.'s products in development phase include MCItect, for patients with Mild Cognitive Impairment (MCI) aimed to detect Alzheimer disease within two years prior to onset of dementia, and ADtect, for the detection of mild to moderate Alzheimer disease, as well as one project in discovery phase, namely AMYtect, for brain amyloid detection.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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