Lombard Medical Technologies (LON:LMT) - Runway cleared for take off?
Oct 22nd 2012 - Edison Investment Research today published a report on Lombard Medical Technologies (LMT.L, LSE:LMT, LON:LMT) entitled "Runway Cleared For Take Off?". In summary, the report says:
FDA feedback in the approval process for the Aorfix endograft included a set of questions that Lombard expects to respond to shortly. It continues to anticipate US approval for the device in Q412. However, if the decision shifts into Q113, Lombard would need to arrange a new round of financing to replace a £13.6m equity tranche contingent on 2012 approval. H112 trading was mixed although key markets performed well with 23% increase in procedures using Aorfix. Our valuation, assuming 2012 approval and funding is £97.7m.
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