SciBase receives validation for Nevisense from key opinion leaders in the US
A US expert consensus panel has reviewed new technologies available for melanoma, reviewing results presented in 19 articles. The report by top US clinicians concluded that Nevisense's AI-driven technology can significantly improve the early detection of melanoma. Nevisense was mentioned as one of two solutions identified to help accurately diagnose clinically indeterminate lesions. The other solution (GEP-2 test) was at least offered by US-based competitor DermTech, which recently filed for bankruptcy in June.
The press release confirms our view that there appears to be no serious competition for the Nevisense device in skin cancer diagnostics. In addition, as the US is the most critical market for SciBase on its path to cash flow neutrality, the continued good response from key US clinicians should support commercial progress in the market.
In our view, the main uncertainties in SciBase's investment case currently relate to factors that are somewhat outside of the company's control: the timing of the ramp-up of insurance coverage in different states and the speed of adoption of the technology by potential customers. These uncertainties also play into the capital requirements and dilution, which have a significant impact on the return on investment for investors. Therefore, the news does not change our view on the stock and our previous research report on SciBase remains relevant.
Scibase Holding
SciBase Holding is a medical technology company. The Group specializes in the management of cancer diagnostics, mainly focused on the treatment and detection of various melanomas. The company has developed an electric handheld probe that analyzes the measurement signal to detect specific changes in the body's skin tissue. The head office is located in Stockholm.
Read more on company pageKey Estimate Figures21.08
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 23.2 | 29.6 | 45.8 |
growth-% | 29.94 % | 27.36 % | 54.68 % |
EBIT (adj.) | -53.9 | -57.8 | -48.7 |
EBIT-% (adj.) | -232.04 % | -195.19 % | -106.25 % |
EPS (adj.) | -0.50 | -0.30 | -0.22 |
Dividend | 0.00 | 0.00 | 0.00 |
Dividend % | |||
P/E (adj.) | - | - | - |
EV/EBITDA | - | - | - |