Edison issues outlook on Tissue Regenix
London, UK, 15 September 2016
Edison issues research outlook on Tissue Regenix (TRX)
Tissue Regenix's (TRX) investment story is built on dCELL, a versatile regenerative medical technology and its potential applications across the subsectors: cardiac, wound care and orthopaedics. The cardiac division has a proven technology with the broadest clinical experience, with 10 years of clinical follow-up data recently presented. We maintain our sum-of-the-parts valuation at £338m.
We recently revisited a number of our key valuation assumptions to reflect the clarity on launch timeframes, associated costs and updated revenue guidance. We maintain our DCF valuation at £338m or 44.4p per share. According to our model, the current price gives a free option on wound care, the most commercially advanced division, and does not reflect the full pipeline potential, which could ultimately be an acquisition target as a whole or by division.
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