KBC Securities - Sequana Medical (SEQUA) Sequana Medical FIRST LOOK: Convertible loan broadened with additional € 1.0m to € 7.1m

Report

KBC Securities

Thomas Vranken

Sequana Medical FIRST LOOK: Convertible loan broadened with additional € 1.0m to € 7.1m

Sequana has expanded its existing € 6.1m convertible loan announced on September 30, 2024 with an additional € 1.0m from existing investors. Same terms apply for the additional cash, as it provides a bit more leeway into the expected PMA approval for the alfapump (expected 1Q25).

23/10/2024 1 EN

Underlying

Sequana Medical

Sequana Medical NV. Sequana Medical NV is a Belgium-based company, which manufactures medical devices. The Company focuses mainly on the development of treatment solutions for the management of liver disease, heart failure, malignant ascites and other fluid imbalance disorders. Sequana Medical NV provides alfapump, which is an implantable, programmable, wireless-charged and battery-powered system that is CE-marking for the management of refractory ascites due to liver cirrhosis and malignant ascites. Over 650 alfapump systems have been implanted. Apart from the Alfapump, the Company also aims to develop a direct sodium removal (DSR) therapy, which is a propriety approach to the treatment of volume overload in heart failure.

See profile

BE0974340722 Euronext Brussels Belgium

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

See profile

Analysts

Thomas Vranken

Other Reports on these Companies

KBC Securities

Morning Notes : AKZA NA, CMBT BB, FAGR BB, HEIA NA, SEQUA BB, ONWD BB

: AKZA NA, CMBT BB, FAGR BB, HEIA NA, SEQUA BB, ONWD BB

15h / 23m 15h / 23m 1 EN

KBC Securities

Sequana Medical € 6m convertible and debt restructuring extend runway into 1Q25

Sequana reported 1H24 results and announced a new convertible loan of € 3.05m (additional tranche of € 3.05m), extending its runway into 1Q25. The company is exploring separating the DSR and alfapump businesses into Hive-Downs to solve for the lack of synergy between programs. Additionally, Sequana restructured its debt with Kreos, PMV, Belfius, and Sensinnovat. Responses to the FDA 90 Day letter will submitted on 1 October, and alfapump PMA approval continues to be expected by 1Q25.

October 1, 2024 October 1, 2024 1 EN

Akzo Nobel Conference call feedback

Below are the highlights from the conference call. Akzo's 3Q adjusted EBITDA dropped by 5% which was close to our forecasts and 2% below consensus. Akzo adjusted its FY24 adjusted EBITDA guidance from ‘towards the lower end of a € 1.5-1.65bn range' to ‘around €1.5bn' with consensus at € 1499m and KBCS at € 1513m. FY24 leverage guidance is adjusted from around 2.3x to around 2.7x. The mid term guidance of at least 16% adjusted EBITDA margin is maintained, which represents a 260bps increase from 2023A. Taking into account the volatile track record and low structural growth, we maintain our Hold ...

13h / 8m 13h / 8m 1 EN

Wim Hoste

Wim Hoste

Heineken FIRST LOOK: 3Q volumes +0.7%, FY guidance maintained

Heineken's 3Q total volumes were up by 0.7% organically which was roughly in line with consensus (+0.6%) and better than our forecast(-0.7%). Unsurprisingly, FY guidance of 4-8% operating profit (beia) organic growth is maintained. We appreciate the beer category for the demonstrated pricing discipline, while premiumization and the exposure towards emerging economies offer further structural growth opportunities. Together with further savings potential (€ 400m pa in the coming years), we expect Heineken to demonstrate decent earnings growth in the next few years. Valuation remains attractive a...

15h 15h 1 EN

Kristof Samoy ... (+3)

Kristof Samoy
Thomas Vranken
Wim Hoste

Morning Notes : AKZA NA, CMBT BB, FAGR BB, HEIA NA, SEQUA BB, ONWD BB

: AKZA NA, CMBT BB, FAGR BB, HEIA NA, SEQUA BB, ONWD BB

15h / 23m 15h / 23m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Sequana Medical FIRST LOOK: Convertible loan broadened with additional € 1.0m to € 7.1m

We are a financial services provider for several types of professional clients, each with distinct needs.

Morning Notes : AKZA NA, CMBT BB, FAGR BB, HEIA NA, SEQUA BB, ONWD BB

Sequana Medical € 6m convertible and debt restructuring extend runway into 1Q25

Akzo Nobel Conference call feedback

Heineken FIRST LOOK: 3Q volumes +0.7%, FY guidance maintained

Morning Notes : AKZA NA, CMBT BB, FAGR BB, HEIA NA, SEQUA BB, ONWD BB

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe