FY 2023 Trading Update
RUA Life Sciences trading update included Group revenues and year-end cash position were modestly ahead of our estimates, with other figures mostly in-line.The highlight of the trading update was the agreement with the FDA on the requirements for the GLP animal study and 120-patient clinical trial required to secure US approval of RUA’s vascular graft. It is clear that RUA is on a pathway to the US approval of its vascular graft which should not be a surprise. RUA Contract Manufacture and RUA Biomaterials both have US customers with approved products.
In a subsequent announcement, RUA provided the details of a reorganisation of the Group resulting in its key experimental product businesses – RUA Structural Heart Limited and RUA Vascular Limited – into stand-alone subsidiaries 100% owned by the Group. We applaud this move on a transparency basis which fits with the trading update’s reporting on the segmented sales and net profit margins of RUA’s revenue-generating businesses, RUA Biomaterials and RUA Contract Manufacture.
We await RUA’s final FY 2023 results in mid-July to update our financials and valuation. For now, our valuation remains at £121.0m (545p per share).
Aortech International is an Intellectual Property (IP) holding company whose principal activity is exploiting the value of its IP and know-how.
Equity Development enables companies to become better understood and supported by investors. Since our launch in 1996 we have consistently focused on helping our clients improve their communication and relationships with both existing and potential shareholders. Our clients have come from a wide variety of sectors and domiciles, are both private and quoted and range in size from micro-cap to $multi-billions. We offer free access to company research notes written by experienced analysts. These notes include detailed forecasts, financial models and a fair value. We host regular Private Investor Forums at which investors have the opportunity to hear company directors present, and to ask questions. These are free to attend. We broadcast live Webinars with company management that include active Q&A. We also make the recordings available online. We arrange face to face meetings between private investors and company management. We are active users of Twitter, commenting daily on company news, share price moves, Directors’ Dealings, Equity Development Research Notes & Events.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.