Reported Earnings • Jul 01
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Net loss: €10.6m (down 172% from profit in FY 2020). Revenue missed analyst estimates by 94%. Over the next year, revenue is forecast to grow 823%, compared to a 7.5% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improved over the past week After last week's 15% share price gain to €1.94, the stock trades at a trailing P/E ratio of 3.9x. Average forward P/E is 26x in the Medical Equipment industry in Germany. Total loss to shareholders of 60% over the past three years. Annuncio • Jun 23
MagForce AG, Annual General Meeting, Aug 31, 2022 MagForce AG, Annual General Meeting, Aug 31, 2022. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €1.87, the stock trades at a trailing P/E ratio of 3.8x. Average forward P/E is 28x in the Medical Equipment industry in Germany. Total loss to shareholders of 60% over the past three years. Price Target Changed • Apr 27
Price target decreased to €11.00 Down from €11.86, the current price target is an average from 3 analysts. New target price is 393% above last closing price of €2.23. Stock is down 45% over the past year. The company is forecast to post a net loss per share of €0.14 compared to earnings per share of €0.50 last year. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improved over the past week After last week's 19% share price gain to €2.29, the stock trades at a trailing P/E ratio of 4.6x. Average forward P/E is 37x in the Medical Equipment industry in Germany. Total loss to shareholders of 53% over the past three years. Price Target Changed • Apr 02
Price target decreased to €10.70 Down from €11.86, the current price target is an average from 3 analysts. New target price is 453% above last closing price of €1.94. Stock is down 56% over the past year. The company is forecast to post a net loss per share of €0.14 compared to earnings per share of €0.50 last year. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €1.75, the stock trades at a trailing P/E ratio of 3.5x. Average forward P/E is 33x in the Medical Equipment industry in Germany. Total loss to shareholders of 68% over the past three years. Reported Earnings • Nov 01
First half 2021 earnings released: €0.17 loss per share (vs €0.18 loss in 1H 2020) First half 2021 results: Net loss: €5.05m (loss widened 3.6% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jul 21
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from €3.50m to €2.03m. EPS estimate unchanged from -€0.19 per share at last update. Medical Equipment industry in Germany expected to see average net income growth of 7.4% next year. Consensus price target of €11.28 unchanged from last update. Share price was steady at €3.66 over the past week. Price Target Changed • Jun 29
Price target decreased to €11.28 Down from €12.65, the current price target is an average from 5 analysts. New target price is 186% above last closing price of €3.94. Stock is up 27% over the past year. Annuncio • Apr 26
MagForce AG Announces Additional Supportive Data from Stage 2a of its Pivotal U.S. Single-Arm Study for the Focal Ablation of Intermediate Risk Prostate Cancer with the NanoTherm Therapy System MagForce AG together with its subsidiary MagForce USA, Inc. announced additional supportive data from Stage 2a of its pivotal U.S. study with the NanoTherm therapy system for the focal ablation of intermediate risk prostate cancer. Further analysis of the Stage 2a results confirmed the initial findings of a 10-patient cohort. Results showed that only the expected minimal treatment-related side effects, which are tolerable and similar to those observed in Stage 1 with an accelerated procedure, could be maintained in the streamlined procedure. The favorable safety and tolerability profile demonstrated in Stage 1 was also confirmed. Upon FDA approval, this streamlined procedure will allow patient treatment to be completed within a single day. Results of focal treatment effectivity remain extremely reassuring. Ablation-analysis furthermore showed well-defined ablation and cell death in the region of the nanoparticle deposit, with minimum tissue damage outside 2 to 4 mm from the deposit edge. It was once again confirmed that the newly developed minimally invasive procedure places the NanoTherm particles in a clinical targeted volume (CTV) of less than 2 to 4 cc of volume in the human prostate and provides for a focal ablation therapy. By modifying the thixotropic nature of the NanoTherm particles, an increase in viscosity of 100 times was achieved, which allowed NanoTherm to remain better at the reverse biopsy instillation site and provide time for the NanoTherm conjugation to occur, stabilizing the NanoTherm particles in the CTV. Compared to Stage 1, MagForce was able to improve the accuracy of instillation in Stage 2a to more than 90%, resulting in a greater NanoTherm particle mass in the targeted area. The findings show only minimal treatment-related side effects, which were tolerable and similar to those commonly associated with biopsies. To minimize discomfort during the 50 minute activation procedure, the patient cooling system was optimized based on the patient's size and weight. The clinical protocol for Stage 2b of the trial has been reviewed by the FDA and is actively recruiting patients while treatment effectiveness was evaluated in Stage 2a. Stage 2b will enroll up to 100 men in total. The study is expected to commence at MagForce's Focal Treatment Center in Texas, the centers in Florida and Washington will be subsequently included in the study. Although one study site would be sufficient to handle the required number of patients for the trial, MagForce will treat patients at all three of its U.S. sites in order to ensure that treatment centers are operational for commercialization once the clinical study is concluded. Annuncio • Feb 09
MagForce AG Together with MagForce USA, Inc. Announce Patient Treatment in Stage 2A of Its Pivotal U.S. Study with the Nanotherm Therapy System for the Focal Ablation of Intermediate Risk Prostate Cancer Has Been Completed MagForce AG together with MagForce USA, Inc., announces that patient treatment in Stage 2a of its pivotal U.S. study with the NanoTherm therapy system for the focal ablation of intermediate risk prostate cancer has been completed. Initial findings of Stage 2a showed in a 10-patients group that only the expected minimal treatment-related side effects, which are tolerable and similar to those observed in Stage 1 with an extended procedure, could be maintained in the streamlined procedure. The findings from Stage 1 demonstrated a favorable safety and tolerability profile as well as well-defined ablation and cell death in the region of the nanoparticle deposit. Upon FDA approval, this streamlined procedure will allow patient treatment to be completed within a single day. The next and final Stage 2b of the clinical trial is being initiated with MagForce's three Focal Treatment Centers in Texas, Washington and Florida. Stage 2b will focus on offering a treatment alternative to immediate risk prostrate cancer patients to that of definitive therapy. The purpose of this focal ablation registration study, which will enroll up to 120 men in a single arm study, is to demonstrate that the NanoTherm therapy system can focally ablate cancer lesions with minimal side effects for patients who have progressed to intermediate risk prostate cancer stage and are under active surveillance. By destroying these cancer lesions, it is anticipated that patients will be able to remain in Active Surveillance Programs and avoid definitive therapies such as surgery or whole gland radiation with their well-known side effects as long as possible. The American Society of Clinical Oncology reported in 2020 an estimated 191,930 new cases of prostate cancer in the United States. In spite of advances in diagnosis and treatment, an estimated 33,330 resulting deaths occurred. Clearly, early diagnosis and MagForce's focal therapy have a strong chance to reduce the death rate for prostate cancer. COVID-19 impact: While there are many restrictions that have been applied such as "Shelter at Home," exemptions exist for healthcare workers, such as MagForce's USA staff at the Company's clinical facilities. Clearly MagForce USA can conduct the trial in its out-patient facilities and has developed COVID-19 infection control protocols for staff and study subjects. These additional safety measures have caused a certain delay, but MagForce is hopeful that the next and final Stage of the clinical trial will not be unduly delayed since MagForce USA will conduct the trial from its own treatment centers. Is New 90 Day High Low • Dec 04
New 90-day high: €4.98 The company is up 87% from its price of €2.67 on 04 September 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €16.30 per share. Major Estimate Revision • Dec 01
Analysts lower revenue estimates to €1.84m The 2020 consensus revenue estimate decreased from €2.10m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -€0.21 to -€0.25 for the same period. The Medical Equipment industry in Germany is expected to see an average net income growth of 19% next year. The consensus price target of €11.86 was unchanged from the last update. Share price is up 38% to €4.38 over the past week. Is New 90 Day High Low • Nov 17
New 90-day high: €3.02 The company is up 2.0% from its price of €2.96 on 19 August 2020. The German market is also up 2.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Medical Equipment industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €15.98 per share. Major Estimate Revision • Nov 04
Analysts update estimates The 2020 consensus revenue estimate increased from €1.17m to €2.14m. Earning per share (EPS) estimate was unchanged from the last update at -€0.31. The Medical Equipment industry in Germany is expected to see an average net income growth of 18% next year. The consensus price target of €12.15 was unchanged from the last update. Share price stayed mostly flat at €2.37 over the past week. Is New 90 Day High Low • Sep 25
New 90-day low: €2.45 The company is down 20% from its price of €3.05 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €15.41 per share. 
