reports
- Juan Pedro Serrate
Allium Medical Solutions - Making progress across the board
Allium has reported H118 financial results. Revenues increased 31% y-o-y to NIS4.9m. As before, we continue to expect additional product approvals during 2018 and sales growth from its distribution deals in new and established markets. We maintain our FY18 sales forecast of NIS14m with a projected 2017-2020e revenue CAGR of 57%. We continue to believe that regional expansion is crucial to the company’s investment case. Our valuation, updated for net cash of NIS16.6m, is NIS1.82 per share.
- Juan Pedro Serrate
Allium Medical Solutions - Continuing to execute on an ambitious plan
Following broad FDA approval for Gardia, Allium anticipates the publication of clinical study results in a leading cardiology journal. Allium believes this will further increase Gardia’s attractiveness for both physicians and potential partners. Allium has secured approval for most of its urology stents and soft tissue fixation products in its main markets. We expect additional product approvals during 2018 and sales growth from its distribution deals in new and established markets. Allium’s...
- Juan Pedro Serrate
Allium Medical Solutions - Wirion approved by FDA; new stents in Euro...
Allium has announced FDA approval of its subsidiary Gardia’s Wirion, which has become the only embolic protection system approved for all atherectomy procedures. Allium has reported FY17 results, with revenues up 5% y-o-y to NIS7.7m, and announced its first order in Mexico for NIS300k and approval of some of its stents in Russia. However, registration of the remaining stents and IBI Medical (EndoFast soft tissue fixation) in Mexico and Russia and stents in China has been delayed; we believe ap...
- Juan Pedro Serrate
Allium Medical Solutions - It is all about business execution
Gardia Medical’s Wirion device is on track for FDA submission, expected by end-2017; approval is possible in Q218. If approved, it would become the only embolic protection system for all atherectomy procedures in the legs which we think will help to reach a strategic transaction. Furthermore, Allium Stents and IBI Medical are expected to gain approval in Russia in 2018 while approval in China is expected in early 2018. We expect initial revenues from Mexico in Q417 and from the strategic agree...
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