CLS's commercial activity picked up in the third quarter. The company reported orders totalling SEK 2.2m from MRI Interventions and increased volume demand from the existing customer base.
The FDA application for Thermoguide has taken longer than anticipated even though the aim of
product launch in 2020 is maintained. The increased commercial activity is, in our view, a clear positive, but we nevertheless argue that a broadened customer base, alongside a long-term financing solution and further efficiency data from the planned clinical study will represent the main valuation triggers for the share.
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