Tissue Regenix Group PLC Edison research outlook on Tissue Regenix (TRX)

TIDMTRX

Tissue Regenix Group PLC

28 July 2016

London, UK, 28 July 2016

Edison issues research outlook on Tissue Regenix (TRX)

Tissue Regenix's (TRX) investment story is built on dCELL, a versatile regenerative medical technology, and its potential across the subsectors: wound care, orthopaedics and cardiac implants. Orthopaedics holds significant promise as the family of dCELL OrthoPure grafts is targeted at high-growth global markets where there are few effective alternatives. We have updated our sum-of-the-parts valuation model to GBP338m, a slight reduction due to revised product timeline launches, costs and revenue forecasts.

We have revisited a number of our key valuation assumptions to reflect the clarity on launch timeframes, associated costs and updated revenue guidance. Our DCF valuation has reduced to GBP338m (vs GBP380m) or 44.4p (vs 50p) per share. According to our model, the current price gives a free option on wound care, the most commercially advanced division, and does not reflect the full pipeline potential, which could ultimately be an acquisition target as a whole or by division.

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July 28, 2016 05:58 ET (09:58 GMT)

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