Biocartis will publish half-year figures on September 3.
I am curious about the impact of Covid-19. It is undoubtedly large. Fewer Idyllas & cartridges will have been sold than in Q1 2020.
The price of the stock will then drop. I congratulate everyone who can get on a low 4. I myself am very underwater so that I have a gloomy perspective on this stock.
The Covid tests will hopefully make up for a large portion of the loss. For example, Immunexpress developed the SeptiCyte RAPID blood test, which detects the response of the immune system to infections. Via Idylla the result can be obtained in barely an hour. Immunexpress expects FDA approval this quarter. The company already has approval in Europe. In addition, this quarter is looking forward to the possible launch of the SARS-COV-2 test, which is being developed together with several partners. The test can be found especially in intensive care units. Both tests will mainly be carried out together, so that an impact on the figures of Biocartis can only be expected in the fourth quarter. The demand for Covid tests will also remain high in 2021 and Biocartis, even though it mainly focuses on cancer tests, can benefit from this.
Moreover, it does not need money in the short term. Biocartis expects to have 110 million EUR in the bank account at the end of this year, so that it will certainly be safe until 2022. This is not a net cash position. After all, Biocartis issued a convertible bond (150 million) last year and with a conversion price of EUR 12.89 there is a good chance that it will have to be repaid in cash. That will only be in 2024, so that the company still has time.
FDA approvals of the different kind of mutation cancer tests will also be late(r) in 2021.
My advise: keep this stock until december 2021.