OncoSil Medical Ltd shines under broker spotlight
OncoSil has been receiving some strong broker attention recently, as the company moves closer to commercial revenue.
Company
ASX:OSL
OncoSil Medical is a global medical device company focused on Interventional Oncology. The company's mission is to improve the outcomes for people living with cancer by utilizing the selected and targeted intratumoural placement of Phosphorous-32 (32P) Microparticles in addition to chemotherapy.
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OncoSil has been receiving some strong broker attention recently, as the company moves closer to commercial revenue.
Bell Potter noted: "The awarding of the IDE is a major step forward for this first in class therapy, consequently the valuation is raised by 10% to $0.33."
Daniel Kenny, CEO, commented: “We are delighted to receive FDA approval for the IDE which is a significant milestone in our regulatory pathway and a validation of our product and supporting processes to commence this important clinica
OncoSil has continued to make progress with its two key regulatory filings during the June quarter 2016, which remain the primary focus and value enablers for the OncoSil™ technology.
Daniel Kenny, CEO, commented: "We are delighted with the progress we have been making to prosecute and progress both our CE mark and IDE submissions."
WilsonHTM noted: "If the FDA allows Oncosil’s IDE study in the coming months, then that should correspond to more regular positive new flow over the balance of 2016."
Daniel Kenny, CEO, said: "Our key focus in the shorter term is to achieve the CE Mark and enable commercial launch and first sales. We remain optimistic about a favourable decision shortly on the CE Mark."
Van Leeuwenhoek wrote: "Based on our NPV valuation, we believe that OncoSil Medical is substantially undervalued at the current share price of AUD 0.16."
OncoSil added that it remains confident in its submission for CE Mark being granted, thereby enabling commercial sales to commence in the European Union and application for TGA approval in Australia.
WilsonHTM said: "We maintain a Speculative Buy. No change to target price of 50 cps which was pre-emptively diluted for anticipated capital raising event(s) in FY16-17."
OncoSil Medical has raised A$10 million for the commercialisation of its namesake cancer treatment as a number of regulatory approvals come into focus.
WilsonHTM has compiled a research report on OncoSil Medical, maintaining a speculative buy rating and upgrading its target price.
The Australian All Ordinaries gathered pace today as this value-adding medical supply company helped health care stocks contribute to a widespread turnaround on the local market.
The Australian All Ordinaries ticked another 0.4% lower today, but a lacklustre session for healthcare stocks didn’t hold back this lifesciences company.
Daniel Kenny, CEO, OncoSil, commented: “I am delighted to report that we have filed our Investigational Device Exemption submission with the US FDA. This represents a key milestone in the development timeline for OncoSil™ in the