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ABGSC Healthcare Research ... (+2)
  • ABGSC Healthcare Research
  • Sten Gustafsson
Adam Karlsson ... (+2)
  • Adam Karlsson
  • Gonzalo Artiach

Q-linea - Challenging turnaround for ASTar

End of TF deal compromises global ASTar sales We cut expectations for ASTar placements in EU & US New TP of SEK 39 (140), keep BUY

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Gonzalo Artiach

Q-linea - Q3 report: FY22 sales guidance halved

Sales of SEK 2.9m (vs. ABGSCe SEK 4.8m) Guides for 10 sold ASTar systems in ’22 (20 prev.) Expect share lower today on lower sales & new guidance

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Gonzalo Artiach

Q-linea - Distribution deal with Thermo Fisher ends

Thermo Fisher walks away from ASTar distribution deal A blow to confidence in commercial uptake of ASTar Expect material share price drop; estimates under review

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Jakob Lembke

Q-linea - All eyes on Podler

No surprises in Q2 figures, guides for costs to level out Focus ahead on a Podler license deal Minor estimate changes, TP of 140 unchanged

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Jakob Lembke

Q-linea - Report in line, focus on Podler license deal

Sales in line, slightly higher opex Sees no funding need assuming Podler license deal Share to underperform slightly, comments on call in focus

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Jakob Lembke

Q-linea - One step forwards and one step backwards

Q1 sales in line; FY’22 ASTar placements guidance short We push our placement forecast one year out Long-term unchanged; supported by recent dealmaking

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Jakob Lembke

Q-linea - Guidance below market expectatins

Sales in line but higher opex Guided for 20 ASTar placements 2022 (ABGSCe 65) Share to underperform significantly today

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Jakob Lembke

Q-linea - bioMerieux acquires Specific Diagnostics

Price of EUR 350m, 10% above Q-linea’s valuation Supportive for rapid-AST; could pressure ThermoFisher Positive share price reaction warranted

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Jakob Lembke

Q-linea - Time to get the ball rolling

Still a few quarters left in the evaluation phase Near-term placement forecast lowered TP down to SEK 155 (170) – keep BUY

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Jakob Lembke

Q-linea - Q4 report

Net sales of SEK 3.9m, slightly below expectations Lower costs and lower EBIT loss of SEK -52m Cautious ramp-up outlook – Conf.call at 13.00 CET

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Jakob Lembke

Q-linea - Keeping our eye on the ball

Lacking visibility on initial sales trajectory Near-term estimates lowered; long-term case intact TP down to SEK 170 (180)

Adam Karlsson ... (+2)
  • Adam Karlsson
  • Jakob Lembke

Q-linea - Q3 Report

Net sales of SEK 1.1m slightly below our estimates Good cost control yields solid EBIT beat Ramping up for proper commercialisation

Adam Karlsson ... (+4)
  • Adam Karlsson
  • Jakob Lembke
  • Rickard Anderkrans
  • Viktor Sundberg

Q-linea - Q2 report

Net sales of SEK 4.3m in-line with our estimates Higher costs drives greater operating loss of SEK-68m Conf. call at 13:00 CEST; commercialisation still in focus

Adam Karlsson ... (+5)
  • Adam Karlsson
  • Jakob Lembke
  • Rickard Anderkrans
  • Victor Forssell
  • Viktor Sundberg

Q-linea - Buckle up for commercialisation

Growing market & clinical utility for more rapid AST ASTar primed to capture meaningful market share Estimates revised: BUY, TP SEK 180 (105)

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