Bonzun: Evidence-based DTx scaling up to combat stress and infertility - Emergers
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We re-initiate coverage on digital therapeutics (DTx) company Bonzun that offers evidence-based patient support for fertility treatments (IVF) and a digital CBT service to help employers combat stress. With the proceeds from the planned rights issue of units, of which 70% is secured, Bonzun now aims to scale up its mix of B2B and recurring B2C revenues in 2023. Fuelled by large framework agreement with the Swedish Security Council and partnerships like Wordapp, we foresee a more than doubling of revenues in 2023 and 2024, lending support to a revaluation of the share with a post-issue fair value of 0.5-0.7 SEK per share in 12-24 month.