Epigenomics AG, a molecular diagnostics company, received buy recommendations from Pareto Securities AS and Warburg Research GmbH on Tuesday. The research reports published by both firms view the proposed sale of substantial assets to New Day Diagnostics LLC as a promising opportunity for shareholders.
The potential sale is seen as a way to unlock the potential and value of Epigenomics' blood-based colorectal cancer test Epi proColon “Next-Gen”. Warburg's shift from "Hold" to "Buy" indicates their belief that the asset sale would be more beneficial for shareholders than continued independent development. Pareto and Warburg have set price targets at EUR 3.15 and EUR 3.30 respectively, pending approval by Epigenomics AG's shareholders at the Extraordinary General Shareholders' Meeting on September 11, 2023, in Berlin.
Epigenomics AG (Frankfurt General Standard: ECX1) has confirmed that it views the sale of its assets as the most advantageous option for the development of its “Next-Gen” test and for maximizing shareholder value. Jens Ravens, Executive of Epigenomics AG, stated that these independent expert assessments further highlight the advantageousness of the sale following Mazars' fairness opinion. He strongly recommends all shareholders approve the sale.
Epigenomics AG specializes in blood testing for early detection of cancer. Through its proprietary biomarker technology for detecting methylated DNA, it has developed blood tests for various cancer indications with high unmet medical need.
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