We lower 2025E-27E sales by 4-7% following the Q2 report, which included soft BD revenues in light of previous stocking of products ahead of further market registrations that have been delayed. We see this as a temporary setback, which management confirmed by stating that momentum in existing markets is good. What is needed for Bactiguard now are inflection points in current partnerships and further deals to achieve operating leverage.
LÄS MER
