Evolva - Potential delay to nootkatone
Evolva has received a letter from the US Environmental Protection Agency (EPA), which has identified a study for which it could not complete its review, and it has requested more information. This letter has come shortly ahead of the expected regulatory registration. Evolva is co-operating with the EPA to resolve the issue, but this is very likely to result in a delay. At this stage it is unclear how long the delay will be, but we assume it could be c 12 months. Our fair value moves to CHF0.53 per share from CHF0.56 per share.Evolva Holding is an international biosynthetic group based in Switzerland. Co. is engaged in discovering and developing ingredients (and technologies for making ingredients) to other companies, in particular in the food and beverage, consumer health and pharmaceutical sectors. Co. maintains a proprietary fermentation-based platform that utilizes yeast. Co.'s internal focus is on high-value ingredients with relatively low production volume. Co.'s operations are organized in two segments: Products (Resveratrol, Vanilla, Stevia, Saffron , Pomecins and Agarwood ) and Legacy Products (EV-077 for diabetic complications and EV-035 for bacterial infections).
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