FYI
First Berlin Equity Research has published a research update on Sirona Biochem Corp (ISIN: CA82967M1005). Analyst Ellis Acklin reiterated his BUY rating and maintained his CAD 0.90 price target.
This is an abbreviated summary. The full text of this story (including disclosure) is attached as a pdf document. For previous reports on this or other companies covered by First Berlin contact Gaurav Tiwari directly (
g.tiwari@firstberlin.com<mailto:
g.tiwari@firstberlin.com>).
Abstract:
Sirona published Q3/15 figures for the period ending 31 July (FYE: October). As expected, the period centred mainly on R&D activities and no sales were generated. Although operating costs increased Q/Q, the nine month results were in line with our expectations. In the recent quarter, Sirona also reported the scale-up of TFC-1067 and we learned that TFC-837 is currently being evaluated by a leading cosmetic company. The company also recently received a cash boost from exercised warrants. We remain positive on the progress of Sirona's pipeline and reiterate our BUY recommendation with a CAD0.90 price target.
Financial Forecasts: