Direction of travel intact

Ahead of its FY 2021 results in July, RUA Life Sciences’ trading update included its first year after the acquisition of RUA Medical and a period where the pandemic brought challenges to its customers. While FY 2021 marked a period of transformation for RUA Life Sciences and the medical device market, some things stayed the same as the progress in RUA’s products in RUA Vascular and RUA Structural Heart have continued unabated despite the pandemic.

We have updated our valuation for the cash balance included in the trading update and have started to reflect tangible progress in the vascular graft. Our valuation has modestly increased to £115.4m or 520p, from £113.2m or 510p per share. With graft and patch product regulatory submissions on the horizon before the end of the second quarter of 2021 and by the end of 2021, respectively, we anticipate making more substantive changes to our valuation at both these time points to reflect the value added by product advancement and the shorter time to a licensing transaction.