reports
- Ole-Andreas Krohn
- Patrik Ling
- Simen Mortensen
- Martin Arnell
- Ole-Andreas Krohn
- Patrik Ling
- Christer Magnergård
- Douglas Lindahl
- Håkon Astrup
- Joachim Gunell
- Johannes Grunselius
- Karl-Johan Bonnevier
- Martin Arnell
- Niclas Gehin
- Ole-Andreas Krohn
- Patrik Ling
- Rune Majlund Dahl
- Simen Mortensen
ELUX B ELECTROLUX AB CLASS B
NOVO B NOVO NORDISK A/S CLASS B
COOR COOR SERVICE MANAGEMENT HOLDING AB
TOM TOMRA SYSTEMS ASA
EPIS B EPISURF MEDICAL
YIT YIT OYJ
JM JM AB
HPOL B HEXPOL AB CLASS B
BRAV BRAVIDA HOLDING AB
BONAV B BONAVA AB CLASS B
MMGR B MOMENTUM GROUP
LATO B LATOUR AB INVESTMENT CLASS B
EVO EVOLUTION GAMING GROUP AB
NSKOG NORSKE SKOG
NPAPER NORDIC PAPER HOLDING
RANA RANA GRUBER
HEXA B HEXAGON AB
- Christoffer Wang Bjørnsen
- Frank Maaø
- Håkon Astrup
- Jimi Lehtonen
- Ole Martin Westgaard
- Ole-Andreas Krohn
- Patrik Ling
- Rune Majlund Dahl
- Tomi Railo
- Patrik Ling
Episurf Medical Clinical data strengthens the case
In our view, the most important events in Q3 were the presentation of long-term clinical data from the Swedish trial and very strong 2-year follow-up data from the large European (80 patients) multi-centre trial. Q3 was largely in line with our expectations, and we note that the number of procedures is increasing despite a negative Covid-19 impact. We reiterate our fair value of SEK1.9–6.5.
- Alexander Aukner
- Ole Martin Westgaard
- Ole-Andreas Krohn
- Patrik Ling
- Simen Mortensen
- Patrik Ling
Episurf Medical CMD 2020 highlights
The company hosted a CMD in mid-September where management presented its long-term views. There were also several interesting presentations from KOLs in the industry, discussing the benefits for patients and doctors of the Episealer implant system. We believe Episurf Medical is moving rapidly in the right direction and that the clinical documentation is improving (and very strong). Based on the longer-term outlook, we have adjusted our fair value to SEK1.9–6.5 (1.3–3.9).
- Ole Martin Westgaard
- Ole-Andreas Krohn
- Patrik Ling
- Patrik Ling
Episurf Medical Strong long-term data The company today announced stro...
Episurf Medical (EPISB SS) - Strong long-term data The company today announced strong long-term follow-up data from the initial Episealer trial done in Sweden. We previously saw 24-month data; the patients have now been followed for 75 months and the data still looks excellent. This is important for Episurf Medical, as many doctors as well as payers request long-term follow-up for the implant system to be included in treatment algorithms and reimbursement systems. We reiterate our fair value of...
- Patrik Ling
Episurf Medical Strong long-term data The company today announced stro...
Episurf Medical (EPISB SS) - Strong long-term data The company today announced strong long-term follow-up data from the initial Episealer trial done in Sweden. We previously saw 24-month data; the patients have now been followed for 75 months and the data still looks excellent. This is important for Episurf Medical, as many doctors as well as payers request long-term follow-up for the implant system to be included in treatment algorithms and reimbursement systems. We reiterate our fair value of...
- Christer Magnergård
- Frank Maaø
- Håkon Astrup
- Joachim Gunell
- Jon Masdal
- Jørgen Lian
- Karl-Johan Bonnevier
- Martin Hoang Nguyen
- Mattias Holmberg
- Niclas Gehin
- Nicolai Farstad Olsen
- Nicolas McBeath
- Niklas Wetterling
- Ole Martin Westgaard
- Ole-Andreas Krohn
- Olof Larshammar
- Patrik Ling
- Ragnhild Støer
- Rune Majlund Dahl
- Simen Mortensen
- Stefan Gauffin
- Tomi Railo
KNEBV KONE OYJ CLASS B
VOLV B VOLVO AB CLASS B
DANSKE DANSKE BANK A/S
WRT1V WARTSILA OYJ ABP
SWED A SWEDBANK AB CLASS A
YAR YARA INTERNATIONAL ASA
NDA DKK NORDEA BANK AB
ELUX B ELECTROLUX AB CLASS B
TEL TELENOR ASA
ALV AUTOLIV INC.
S0QA SCORPIO TANKERS INC.
COOR COOR SERVICE MANAGEMENT HOLDING AB
PEAB B PEAB AB CLASS B
INVE B INVESTOR AB CLASS B
NCC B NCC AB CLASS B
TOM TOMRA SYSTEMS ASA
EPIS B EPISURF MEDICAL
TOP TOPDANMARK A/S
WALL B WALLENSTAM AB CLASS B
AKER AKER ASA CLASS A
CGCBV CARGOTEC OYJ CLASS B
BRAV BRAVIDA HOLDING AB
TELIA TELIA COMPANY AB
ASSAB ASSA ABLOY
HANDI HANDICARE GROUP AB
ELK ELKEM ASA
SCH SCHIBSTED ASA CLASS A
AXA AXACTOR SE
- Patrik Ling
Episurf Medical Covid-19 hit in Q2, as expected
As we expected, Covid-19 had a clear impact on the number of implant procedures in Q2. As these are elective procedures, they can easily be postponed (as seen in Q2). Despite this, we believe the company had a strong quarter with a good cost control. Over the coming quarters, we believe sales should gradually return. Our new fair value is SEK1.3–3.9 (1.4–4.1).
- Christoffer Wang Bjørnsen
- Joachim Gunell
- Jon Masdal
- Karl-Johan Bonnevier
- Martin Hoang Nguyen
- Martin Huseby Karlsen
- Mattias Holmberg
- Niclas Gehin
- Nicolas McBeath
- Niklas Wetterling
- Ole-Andreas Krohn
- Patrik Ling
- Rune Majlund Dahl
- Simen Mortensen
- Tomi Railo
SOBI SWEDISH ORPHAN BIOVITRUM AB
GN GN STORE NORD A/S
SEB A SKANDINAVISKA ENSKILDA BANKEN AB CLASS A
SOC SUBSEA 7 S.A.
TIETO TIETOEVRY OYJ
MEDIO MEDISTIM ASA
HEXA B HEXAGON AB CLASS B
PLCS POLARCUS LIMITED
EPIS B EPISURF MEDICAL
WALL B WALLENSTAM AB CLASS B
KCR KONECRANES OYJ
NZYM B NOVOZYMES A/S CLASS B
BRG BORREGAARD
IAR B IAR SYSTEMS GROUP AB
POX PANDOX AB CLASS B
ASSAB ASSA ABLOY
SHOT SCANDIC HOTELS
- Patrik Ling
Episurf Medical Covid-19 to affect procedures
On 24 April Episurf Medical reported solid Q1 earnings, especially bearing in mind that EpiSealer procedures are typically elective and hence among the areas where healthcare organisations globally have lowered activity levels in the wake of Covid-19. This effect should be even more pronounced in Q2. Overall, we believe the company is moving in the right direction and its stable financial situation is a big benefit in the volatile times ahead due to the Covid-19 pandemic. We calculate a fair val...
- Patrik Ling
Episurf Medical Case getting stronger by the day
Yesterday, the company announced that the rights issue announced earlier this year has been completed. In our view, the company is clearly moving in the right direction with the financing being the last piece of the puzzle. In early 2020, it has released strong clinical data supporting the implant system, and now the financial situation is secured until 2022. In total, the company has raised cSEK140m before costs.
- Alexander Aukner
- Eivind Sars Veddeng
- Frank Maaø
- Håkon Astrup
- Joachim Gunell
- Jon Masdal
- Karl-Johan Bonnevier
- Martin Arnell
- Martin Hoang Nguyen
- Mats Bye
- Niklas Wetterling
- Ole Martin Westgaard
- Ole-Andreas Krohn
- Patrik Ling
- Simen Mortensen
EQNR EQUINOR ASA
YAR YARA INTERNATIONAL ASA
LPG DORIAN LPG
SAS SAS AB
NOKIA NOKIA OYJ
BERG B BERGMAN & BEVING
HEX HEXAGON COMPOSITES ASA
SOR SPAREBANKEN SOR
MTG B MODERN TIMES GROUP MTG AB CLASS B
GSF GRIEG SEAFOOD ASA
EPIS B EPISURF MEDICAL
KNVKF KINNEVIK AB CLASS B
SKA B SKANSKA AB CLASS B
DNO DNO ASA CLASS A
ATRLJ B ATRIUM LJUNGBERG AB CLASS B
ENTRA ENTRA ASA
INDU A INDUSTRIVARDEN AB CLASS A
BGBIO BERGENBIO ASA
SPOL SPAREBANK 1 ØSTLANDET
- Patrik Ling
Episurf Medical IDE trial set to be fully financed
Q4 earnings were broadly in line with our forecast. More importantly, however, management announced plans for a cSEK140m capital increase that it believes will secure its financial position for the coming years, with a large proportion of the capital raised earmarked for the US IDE trial. We calculate a fair value range for Episurf of SEK1.6–4.3 (previously SEK1.8–4.7).
- Alexander Aukner
- Karl-Johan Bonnevier
- Martin Arnell
- Ole Martin Westgaard
- Ole-Andreas Krohn
- Olof Larshammar
- Patrik Ling
SAS SAS AB
COOR COOR SERVICE MANAGEMENT HOLDING AB
EPR EUROPRIS ASA
E3G1 EVOLUTION GAMING GROUP AB
HM B H&M HENNES & MAURITZ AB CLASS B
GSF GRIEG SEAFOOD ASA
EPIS B EPISURF MEDICAL
SKF B SKF AB CLASS B
NRS NORWAY ROYAL SALMON ASA
ACAD ACADEMEDIA AB
ATCOA ATLAS COPCO
EPI B EPIROC AB CLASS B
- Patrik Ling
Episurf Medical Talus implant approved in the EU
It took longer than expected for EpiSurf to get the new Talus implant system approved for marketing in Europe but it is now finally in place. We expect this to become a sizeable market over time, given the lack of alternatives and the number of patients suffering from defects in the talus. The company has not offered an over-abundance of details on the outlook for this market segment and we expect it to provide more information over the coming months.
- Martin Arnell
- Niklas Wetterling
- Ole-Andreas Krohn
- Patrik Ling
- Rune Majlund Dahl
- Simen Mortensen
- Tomi Railo
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