Acarix (Acarix)

Business description

Acarix, a Swedish company, has developed the CE-marked CADScor to enable about half of the patients to be ruled out from further, expensive testing. Private sales in Germany have started. Full EU sales may start from 2019. US sales might start from 2021.

Stock data

Market cap.SEK444m
Last closeSEK19.30
High / Low (52 weeks)SEK / SEK
Stock market listingOMX
Forecast net cash (SEKm)60.6
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual1.6(5.9)N/A
Relative *(2.1)(6)N/A

* % Relative to local index

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Company news

Elos Medtech AB (ELOS-B) Rise 0.85% on Oct 22

Wed, 06 Sep 2017 09:56:15 GMT

Acarix AB (publ) to present at Vator Securities Unicorn Summit on 7 March 2017

Thu, 09 Feb 2017 06:56:15 GMT

Acarix publishes the 2016 Annual Report

Tue, 18 Apr 2017 06:00:00 GMT

Acarix interim report, January - June 2017: CADScor® System commercially ...

Thu, 24 Aug 2017 06:00:00 GMT

Coronary Artery Disease Specialist Acarix AB to present at Medtech Showcase 2017

Fri, 23 Dec 2016 12:45:00 GMT

Y/E Dec Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (öre) P/E (x) P/CF (x)
2015A N/A (15.2) (15.4) (114.0) N/A N/A
2016A N/A (26.8) (26.8) (183.0) N/A N/A
2017E 3.0 (51.8) (51.4) (211.0) N/A N/A
2018E 3.8 (49.6) (49.5) (203.0) N/A N/A

Last updated on 20/09/2017

Investment summary

Acarix sold three CADScore units in H1 worth SEK 193k. The loss was SEK 11m. H1 cash outflow was SEK 26.8m with 30 June cash of SEK 116m. The cash outflow was increased after paying SEK 13.7m of other liabilities and working capital movements due to sales. EPS including exceptional items was SEK (3.63). The first sale in the crucial German market was to a private Berlin cardiology clinic. This follows the first sale in Denmark. CADScore helps doctors to identify the patients who probably require no further risky invasive clinical testing.

Last updated on 03/10/2017

Industry outlook

Germany has a strong private healthcare insurance sector (about 10% of people covered) which might adopt quickly given that there are stated to be over 1 million hospital cardiac assessments each year, many unnecessary. Major German and EU sales will need public reimbursement probably from 2019. US marketing will probably require a US clinical study, with sales from 2021 possible. The US has over 3.8 million tests for coronary artery disease per year.

Last updated on 03/10/2017

Key management

Søren Rysholt Christiansen , CEO
Christian Lindholm, CFO

Company address

Scion-DTU
Diplomvej 376
Kongens Lyngby
Denmark
DK-2800
United Kingdom