EDISON EQUITY RESEARCH -Gaining momentum
February 06 2015 - 9:45AM
InvestorsHub NewsWire
SQI has continued its positive momentum over the last year,
signing five service agreements with drug development companies.
The company also broadened its commercial focus in 2014 with a deal
to automate DNA-based pathogen detection assays, a new application
for its technology. We now look towards the conversion of customers
from early contract work/validation to full commercialisation.
Despite the encouraging deal progress, we reduce our valuation to
C$55m vs C$60m previously (C$0.98 per share vs C$1.07), mainly due
to the more protracted time frame for the phasing of contracts to
reach significant revenue recognition.
SQI Diagnostics is a Canadian diagnostics company. It develops and
sells multiplexed research diagnostics to pharmaceutical companies
to support clinical research, and in vitro diagnostics tests to
centralised diagnostics labs for diagnosing autoimmune
diseases.
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