Acarix

OMX: ACARIX

SEK42.8m market cap

SEK0.83 last close

Acarix, a Swedish company, sells the CE-marked CADScor to enable about half of chest-pain patients with suspected coronary artery disease to be ruled out from further, expensive testing.

Investment summary

Acarix has announced that the FDA is reviewing a de novo 510(k) application for its innovative CADScor cardiac diagnostic device. This is important news as it could mean that Acarix might enter the US market by 2021 – although it will need marketing alliances and good reimbursement. Given weak European sales and no update on German reimbursement, accessing the large US market could radically transform the business. Acarix might need US clinical data to ensure that it gains Medicare and insurer reimbursement.

Y/E Dec
Revenue (SEKm)
EBITDA (SEKm)
PBT (SEKm)
EPS (öre)
P/E (x)
P/CF (x)
2017A 0.6 (29.5) (30.7) (129.31) N/A N/A
2018A 1.0 (41.0) (42.3) (183.48) N/A N/A
2019E 2.6 (42.0) (43.3) (155.85) N/A N/A
2020E 4.1 (43.3) (44.6) (86.37) N/A N/A
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (SEKm) 61.9
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (24.4) (44.8) (75.7)
Relative* (28.2) (52.9) (79.5)
52-week high/low SEK3.4/SEK0.7
*% relative to local index
Key management
Dr Werner Braun Chairman
Per Persson CEO
Christian Lindholm CFO
Claus Bo Vöge Christensen COO and co-founder