Product and capacity momentum
SINGAPORE | HEALTHCARE | UPDATE
Potential application of Wafermine has extended further, from treatment of acute pain to depression and now to Complex Regional Pain Syndrome (CRPS).
Wafer capacity expansion in Australia is on track to commence in July 2021. It will cater to demand for Entity nutraceuticals in China and Xativa medicinal cannabis in Australia.
IXBIO announced a rights issue at S$0.20 per share at 7 rights for every 100 shares held. The TERP is S$0.237. Funds are for manufacturing and marketing activities.
Our BUY recommendation and DCF (WACC 10%) TP of S$0.445 are unchanged. Expanding the use of core WaferiX drug delivery technology and capacity ramp-up to meet rising demand for its products are expected to provide stock catalysts.
