BioLight Life Sciences

Tel Aviv Stock Exchange: BOLT

NIS66.3m market cap

NIS14.59 last close

Based in Israel, BioLight is an emerging ophthalmic company focused on the development and commercialisation of products and product candidates that address ocular conditions. Lead products IOPtiMate and VS-101 are directed towards the treatment of glaucoma.

Investment summary

BioLight raised NIS11.4m (gross) from the issuance of 908,540 shares in May 2018. We believe these funds should allow BioLight to fund its operations until at least H218, at which point we expect it to receive $12m from the second stage (out of four) of the IOPtima divestiture transaction. BioLight expects that upon completion of all stages (ie by mid-2021), it will receive gross proceeds of $23-27.3m for its entire holding.

Y/E Dec
Revenue (NISm)
EBITDA (NISm)
PBT (NISm)
EPS (NIS)
P/E (x)
P/CF (x)
2016A 2.1 (20.2) (26.3) (5.37) N/A N/A
2017A 1.2 (26.8) (26.6) (5.29) N/A N/A
2018E 0.9 (24.0) (26.3) (5.21) N/A N/A
2019E 0.9 (24.4) (26.3) (5.56) N/A N/A
Last updated on 01/02/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (NISm) 34.2
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 9.0 (1.7) (3.5)
Relative* 3.9 1.3 (4.3)
52-week high/low NIS15.4/NIS11.0
*% relative to local index
Key management
Israel Makov Chairman
Suzana Nahum Zilberberg CEO
Itai Bar-Natan CFO