Original-Research: MagForce AG - von GBC AG
Anlass der Studie: Research Comment
Empfehlung: BUY
Kursziel: 15.80 Euro
Letzte Ratingänderung:
Analyst: Cosmin Filker, Matthias Greiffenberger
Capital increase at US subsidiary secures financing of the clinical trial;
price target and rating unchanged
In its company press release of 08/08/2018, MagForce AG announced the
completion of a successful capital increase at the US subsidiary MagForce
USA, Inc. By exercising 700,000 subscription rights, which were issued
within the framework of a growth financing in 2014 and by subscription of
166,666 new shares, the US subsidiary is receiving gross issue proceeds in
the amount of USD 9.0 million.
The potentially high-volume US activities of MagForce AG are bundled at the
US subsidiary. A registration trial of focal ablation for prostate cancer is
currently being conducted in the US, whereas the inclusion of the first
patients already took place in July 2018. A total of up to 120 male patients
will be included in the trial. Against this background, the current capital
increase is, on the one hand, a key financing module of the clinical trial
and, in our opinion, also proof of the major shareholders trust with regard
to the successful development of the US market. ....
www.finanznachrichten.de/...agforce-ag-von-gbc-ag-buy-015.htm