Redeye believes 2024 could better demonstrate Sedana Medical’s European expansion and increase the confidence in the US part of the equity story (NDA filing is approx. 12 months away). We believe quarterly sales, mainly coming from Germany but increasingly so also from Spain and the UK, will beat the company’s conservative 2024 sales target. Still, we make some downward changes in our financial estimates, rendering changes to our fair value range.

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Sedana Medical Q4 - Likely to beat conservative 2024 sales target

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