Since our last research update, about one month ago the G5-stock is down another 18 per cent. We believe the stock has plummeted due to the drop in the top grossing list for G5s biggest game “Hidden City”. We have made some adjustments, and expect a weaker Q3 than earlier predicted. However, one somewhat weaker quarter does not change our view on the stock and the company’s future. At this time we think the stock looks cheap.
Inför börsöppningen kom besked om att första patient doserats i en fas II-studie för THR-317 inom ögonsjukdomen idiopatisk MacTel 1. Det är en sällsynt ögonsjukdom som vi inte haft med i vår värdering av projektet.
THQ Nordic did, yet again, deliver a quarter significantly above our expectations. We are now heading into a period where multi-year game investments are starting to pay-off. We have made some positive forecast adjustments which leads to an increased Base-case valuation.
As expected the new customer Skruvat.se was one of the biggest contributors to the revenue increase in Q2. However, the payment solution was only active one month in Q2, which means more revenue is expected in Q3. Panova's ambition is to go live in its first physical store in the first half of 2019.
Morgonens besked om att ett exklusivt licensavtal tecknats för MOB-015 i Kanada ger bränsle för aktien som tar ett rättmätigt glädjekliv i den inledande handeln. Avtalet kan ge Moberg Pharma delmålsbetalningar på 14,6 MUSD samt royalty på försäljning.
Nordic Leisure is extending its collaboration with PrimaBet, a licensed operator with betting shops in the Gambia. This extended collaboration means that PrimaBet is launching a mobile version of its offering. Moreover, Nordic Leisure is evaluating a number of other African markets, which we see as interesting.
Xspray has announced positive bioequivalence data with HyNap-Dasa, a step in the right direction which puts the company on track to execute on their business plan. We see the news as positive and indicative of news to come. With this report, we raise our Base Case to SEK 135 (120) per share.