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Bioextrax: The American start-up cancels deal
Research update Q4 2023
|2024-02-16
- Joint Development Agreement with the candy producer in Q1
- Progression in several projects, funding risk remains
- Our model implies a fair valuation of SEK 7.60 per share
A quiet final quarter of 2023 was followed by an eventful start of 2024 for Lund-based Bioextrax. In January, the American startup terminated the contract due to financial issues. For Bioextrax, the financial impact of the cancellation was limited according in our valuation model. However, the stock market reaction on the news was harsh sending the share price down by 30 per cent.
Read our research update below.
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Tobias Karlsson
Analyst
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Martin Dominique
Chief Analyst