Mainstay Medical

Completes financing; operational runway extended to 2021

  • Sectors : Pharma and healthcare
  • Companies : Mainstay Medical

Ratings and price correct at time of issue.

  • Mainstay Medical

    Closing Price: 383c

  • RATING 14/09/17



Mainstay has completed its equity and debt financing transactions, raising gross proceeds of €16.9m ($18.9m). The company now has sufficient capital to advance its two main strategic goals into 2021: (1) to file a pre-market approval (PMA) application for ReActiv8 with the FDA over the summer, with an approval decision expected late 2020; (2) to continue to advance existing commercial efforts with ReActiv8 in Germany and other select European markets. Our revised price target is €15 per share. We reiterate our ‘Outperform’ rating.

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Jul 30 2019, 07:10 IST/BST