The analysis comprises an independent review of the Company, its products, markets and competitors as well as a financial scenario that constitutes the basis of an estimated justified market capitalization of ViroGates.

The research coverage is governed by an agreement made between ViroGates and Västra Hamnen Corporate Finance.

In its initiation coverage report, Västra Hamnen Corporate Finance AB concludes that the suPARnostic® biomarker is;

“A simple blood test to immensely improve clinical decision making …. with global market opportunities and virtually no competition”


“Our DCF model suggests a fair value range for the stock price of DKK 68.00 – DKK 100.50 given our current view of the risk and including only the Acute Care market in our model.

We see potential for further valuation upgrades when the company has overcome certain risks and when it gets closer to addressing other market segments.”

Please find the Initial Research Report here;

ViroGates – A suPAR Highway to Health 20200129