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2025-02-07 Bokslutskommuniké 2024
2024-10-25 Kvartalsrapport 2024-Q3
2024-07-12 Kvartalsrapport 2024-Q2
2024-04-24 Kvartalsrapport 2024-Q1
2024-04-10 Ordinarie utdelning EPIS B 0.00 SEK
2024-04-09 Årsstämma 2024
2024-02-09 Bokslutskommuniké 2023
2023-10-27 Kvartalsrapport 2023-Q3
2023-07-14 Kvartalsrapport 2023-Q2
2023-05-03 Ordinarie utdelning EPIS B 0.00 SEK
2023-05-02 Årsstämma 2023
2023-04-28 Kvartalsrapport 2023-Q1
2023-02-17 Bokslutskommuniké 2022
2022-11-16 Kvartalsrapport 2022-Q3
2022-07-15 Kvartalsrapport 2022-Q2
2022-04-29 Kvartalsrapport 2022-Q1
2022-04-05 Ordinarie utdelning EPIS B 0.00 SEK
2022-04-04 Årsstämma 2022
2022-02-11 Bokslutskommuniké 2021
2021-10-29 Kvartalsrapport 2021-Q3
2021-07-16 Kvartalsrapport 2021-Q2
2021-05-11 Ordinarie utdelning EPIS B 0.00 SEK
2021-05-10 Årsstämma 2021
2021-04-29 Kvartalsrapport 2021-Q1
2021-02-19 Bokslutskommuniké 2020
2020-10-23 Kvartalsrapport 2020-Q3
2020-07-17 Kvartalsrapport 2020-Q2
2020-04-24 Kvartalsrapport 2020-Q1
2020-04-03 Ordinarie utdelning EPIS B 0.00 SEK
2020-04-02 Årsstämma 2020
2020-03-10 Extra Bolagsstämma 2020
2020-02-07 Bokslutskommuniké 2019
2019-10-25 Kvartalsrapport 2019-Q3
2019-07-19 Kvartalsrapport 2019-Q2
2019-05-07 Extra Bolagsstämma 2019
2019-04-26 Kvartalsrapport 2019-Q1
2019-04-09 Ordinarie utdelning EPIS B 0.00 SEK
2019-04-08 Årsstämma 2019
2019-02-08 Bokslutskommuniké 2018
2018-10-26 Kvartalsrapport 2018-Q3
2018-07-20 Kvartalsrapport 2018-Q2
2018-04-27 Kvartalsrapport 2018-Q1
2018-04-10 Ordinarie utdelning EPIS B 0.00 SEK
2018-04-09 Årsstämma 2018
2018-02-23 Bokslutskommuniké 2017
2017-11-10 Kvartalsrapport 2017-Q3
2017-08-18 Kvartalsrapport 2017-Q2
2017-05-23 Ordinarie utdelning EPIS B 0.00 SEK
2017-05-22 Årsstämma 2017
2017-05-15 Kvartalsrapport 2017-Q1
2017-02-24 Bokslutskommuniké 2016
2017-02-20 Extra Bolagsstämma 2017
2016-11-04 Kvartalsrapport 2016-Q3
2016-08-19 Kvartalsrapport 2016-Q2
2016-05-25 Ordinarie utdelning EPIS B 0.00 SEK
2016-05-24 Årsstämma 2016
2016-05-17 Kvartalsrapport 2016-Q1
2016-02-23 Bokslutskommuniké 2015
2015-11-06 Kvartalsrapport 2015-Q3
2015-08-21 Kvartalsrapport 2015-Q2
2015-05-07 Ordinarie utdelning EPIS B 0.00 SEK
2015-05-06 Kvartalsrapport 2015-Q1
2015-05-06 Årsstämma 2015
2015-02-20 Bokslutskommuniké 2014
2014-11-07 Kvartalsrapport 2014-Q3
2014-08-22 Kvartalsrapport 2014-Q2
2014-06-04 Ordinarie utdelning EPIS B 0.00 SEK
2014-06-03 Årsstämma 2014
2014-05-09 Kvartalsrapport 2014-Q1
2014-02-21 Bokslutskommuniké 2013
2014-02-12 Extra Bolagsstämma 2014
2013-11-06 Kvartalsrapport 2013-Q3
2013-08-22 Kvartalsrapport 2013-Q2
2013-05-03 Ordinarie utdelning EPIS B 0.00 SEK
2013-05-03 Kvartalsrapport 2013-Q1
2013-05-02 Årsstämma 2013
2013-04-03 Extra Bolagsstämma 2013
2013-02-21 Bokslutskommuniké 2012
2012-11-21 Kvartalsrapport 2012-Q3
2012-08-22 Kvartalsrapport 2012-Q2
2012-06-04 Årsstämma 2012
2012-05-04 Kvartalsrapport 2012-Q1
2012-02-21 Bokslutskommuniké 2011
2011-11-21 Kvartalsrapport 2011-Q3
2011-08-22 Kvartalsrapport 2011-Q2
2011-07-20 Split EPIS B 6:1
2011-06-30 Årsstämma 2011
2011-05-21 Kvartalsrapport 2011-Q1
2011-05-13 Extra Bolagsstämma 2011
2011-05-02 Kvartalsrapport 2011-Q1
2011-02-18 Bokslutskommuniké 2010
2010-08-30 Extra Bolagsstämma 2010

Beskrivning

LandSverige
ListaSmall Cap Stockholm
SektorHälsovård
IndustriMedicinteknik
Episurf Medical är ett verksamt inom medicinteknik. Bolaget driver forskning och utveckling av produkter som används för behandling av broskskador. Episurfs primära fokus är riktat mot återhämtning av knäleder men bolagets implantat kan även appliceras på övriga leder. Episurf Medical befinner sig i preklinisk verifieringsfas och har sitt huvudkontor i Stockholm.
2022-11-19 12:36:11

Episurf Medical hosted a CMD on 16 November at which it discussed the state of the company and its long-term plans. International expansion will be even more important in the future, in our view. The company is still suffering from the effects of the pandemic, and Q3 sales were thus lower than we expected, though its operating losses were in line with our forecast. We reiterate our fair value for Episurf of SEK3.3-9.3.

CMD summary. Episurf Medical hosted a CMD on 16 November, which focused on its plans and product portfolio and talks by Key Opinion Leaders on the data and results for the Episealer Implant system. We believe the company is in a significantly better position to market its implant system than it was a few years ago given the large amount of clinical data that has emerged and matured in recent years. We see a TAM of cUSD2bn over time in the sub-segments of the orthopaedic market that the company is addressing.

The product assortment and geographic reach is increasing. We believe the broadening of the company's product assortment (with a talus implant, MTP implant and patellofemoral implant in addition to its knee implant system) is a positive, especially given that some of the newer implants do not require PMAs to receive approval in the US. The company is also set to continue to introduce products in new geographical markets from 2023.

Foundation for sales growth appears to be in place. We believe the company's broader product assortment, greater geographical reach, and the emergence and maturation of more clinical data combined with increased usage per client (as they become more familiar and comfortable with the products) will drive sales growth. Thus, all the prerequisites for sales growth are in place, in our view.

Fair value of SEK3.3-9.3 reiterated. The company has continued to develop its data set, and the clinical experience among users is rapidly increasing. In the orthopaedic implant market, data and user experience are important sales drivers, and although sales in absolute terms have not yet taken off sharply, we believe the company is better positioned now to see growth materialise in the coming years.

Click here to view the full report. (GetReports.aspx (dnb.no) (https://www.dnb.no/seg-fundamental/fundamentalweb/GetReports.aspx?file=CMPSP_204845.pdf&Sid=1-9HRQPCA))

Patrik Ling | DNB Markets | Equity Research | Senior Analyst Healthcare
DNB Bank ASA
Regeringsgatan 59 | Stockholm | Sweden
E-mail: patrik.ling@dnb.se| www.dnb.no