Eurobio Scientific, Buy Conviction
Eurobio Scientific, a French microcap specialized in the design and distribution of in vitro diagnostic (IVD) products, has changed its name three times and almost as many times its activity. Since its inception in 1997 the company has never made a profit, will post a net loss again this year and possibly in 2019 also. Its share price has declined every year since its initial public offering in 2005, falling by 40% in 2016, nearly 25% in 2017 and by 20% since January 1. There are no major institutional investors among its shareholder base and they appear uninterested... They should be interested however, we have a Buy opinion on the stock.
Eurobio Scientific SA, formerly Diaxonhit, is a France-based biotechnology company engaged in the field of in-vitro diagnostic. It is engaged in activities ranging from discovery to the commercialization of specialty diagnostic products. The Company owns a portfolio of diagnostic products in three specialty areas: infectious diseases; Alzheimer's disease, and cancer. It consists of Tetanos Quick Stick (TQS), which is an unitary test enabling to determine the tetanus vaccination status. It has a portfolio of in-house and co-developed products, including AclarusDx (a blood-based test for the detection of biomarkers specific for Alzheimer's disease). The portfolio includes BJI Inoplex for prosthetic infections and EHT Dx14 for breast cancer (both in validation phase). The co-developed products include research programs for the identification of predictive biomarkers of response for anti-HER2 and anti-angiogenic therapies, among others. It operates through Genbio and Eurobio Capforce Plus.
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