News updates from both DeepVerge and Microsaic have been released this morning. Modern Water, a division of DeepVerge, announced a total of £2.2m of new orders for its enhanced monitoring equipment, including a contribution from Microsaic mass spectrometer products for monitoring ‘forever chemicals’ and contaminants of emerging concern.
Following a recent software upgrade, second-generation real-time pandemic response units with fully integrated facilities for SARS-CoV-2 detection are being shipped to the UK, India and China in order to meet customer and partner obligations for delivery in this financial year. With over £9m finance available at the interim stage, DeepVerge remains well-resourced to fund not only its planned move into high volume production of its Microtox® PD range in both China and Ireland, but also expand processing capacity for its Skin Trust Club’s home test kits in response to surging demand while it progresses ongoing joint venture negotiations with China Resources.
Recognising the scale of the opportunities being presented and in expectation of a number of significant news releases prior to the year end, on 3 August 2021 TPI updated its forecasts and financial model for DeepVerge, resulting in an increased share price target of 94.7p (up from 84.8p that was previously).
(Please note that TPI’s valuation is based on financial modelling and there is no guarantee that such a valuation will ever be realised, therefore please do not base investment decisions on this valuation alone. Also please note that past performance is not a reliable indicator of future results.)
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