Spectral MD Holdings Ltd (AIM:SMD) issued a bullish trading update on Wednesday which has prompted 'house' broker WH Ireland to upgrade its forecasts for the current year.
In a statement, the wound management specialist said it expects its 2022 grant revenue to be materially ahead of market expectations (read more).
As a result, the City broker's analysts now expect grant revenue of US$23.8mln, against US$20mln previously, gross margins to rise to 38% from 35% and underlying losses to come in at US$4.2mln against a previous forecast of US$7.7mln.
Cash also improves with the better numbers, said the analysts, who have a valuation of 157p per share (£214mln) on Spectral MD shares versus the current market capitalisation of £43.6mln at 32p, unchanged today.