Update: Encouraging new deal flow
SQI has had positive traction in recent months with the signing of two new customers, a top 10 global pharma company and a UK-based DNA specialist. The latter will use SQI’s systems for pathogen detection, potentially opening the door to a new application for SQI’s technology. These deals counteract what has proven to be a more protracted timeframe than anticipated for the full commercialisation of SQI’s diagnostics platform. After pushing back the phasing of contracts converting to full commercial terms, our revised valuation of SQI is C$60m (vs C$76m previously) or C$1.07 per share (vs C$1.35).SQI Diagnostics is a medical systems company. Co. is engaged in the development of proprietary technology in multiplexing, miniaturization and automation.
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