Confident AGM And Trading Update
RUA Life Sciences’ AGM statement and trading update demonstrated good progress across its businesses since the FY 2021 results announcement earlier in the summer. RUA’s product that is closest to the market – the large bore vascular graft – is back on track for a Q1 2022 commercial launch. The 510(k) approval and agreements with distribution partners will likely result in an increase in our valuation when they occur.RUA’s expectation of a six-fold increase in production capacity as a result of commercial launch of the graft product, is a measure of confidence in both FDA approval and partnering. The recruitment of a Clinical and Regulatory Affairs Director, who brings fresh eyes to the 510(k) application prior to its submission, should also be regarded as another positive move.
Our valuation remains at £116.5m or 525p per share but we are expecting a number of increases when the large bore vascular graft is approved in the US, and then licensing partners are announced.
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