New Risk • Jun 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €86.2m (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • May 20
First quarter 2026 earnings released: US$0.07 loss per share (vs US$0.14 loss in 1Q 2025) First quarter 2026 results: US$0.07 loss per share (improved from US$0.14 loss in 1Q 2025). Revenue: US$12.9m (up 1.9% from 1Q 2025). Net loss: US$2.30m (loss narrowed 48% from 1Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 16
HLS Therapeutics Inc. Reaffirms Consolidated Earnings Guidance for the Full Year 2026 HLS Therapeutics Inc. reaffirmed consolidated earnings guidance for the full year 2026. for the year, the company expects consolidated revenue of $56 million-$60 million, representing mid-single-digit percentage growth. Announcement • May 01
HLS Therapeutics Inc. to Report Q1, 2026 Results on May 15, 2026 HLS Therapeutics Inc. announced that they will report Q1, 2026 results on May 15, 2026 Announcement • Apr 28
HLS Therapeutics Inc., Annual General Meeting, Jun 26, 2026 HLS Therapeutics Inc., Annual General Meeting, Jun 26, 2026. Announcement • Mar 13
HLS Therapeutics Inc. Provides Earnings Guidance for the Year 2026 HLS Therapeutics Inc. provided earnings guidance for the year 2026. For the year, company expected Consolidated revenue to be in range of $56 Million to $60 million, representing mid-single-digit percentage growth. Announcement • Mar 06
HLS Therapeutics Inc Announces Nilemdo Is Now Available In Canada For The Reduction Of LDL-Cholesterol In Patients At Risk Of Cardiovascular Disease HLS Therapeutics Inc. had announced the commercial launch of NILEMDO (bempedoic acid) in Canada. NILEMDO is now available by prescription nationally. HLS in-licensed the exclusive rights to NILEMDO and NEXLIZET (bempedoic acid and ezetimibe) for the Canadian market from Esperion Therapeutics Inc. in May 2025. Health Canada approved NILEMDO in November 2025. NILEMDO is indicated to reduce LDL-C and the risk of major cardiovascular events in adults who require additional low-density lipoprotein cholesterol (LDL-C) lowering due to an inability to reach target levels with currently available therapies or due to statin intolerance. Cardiovascular disease is the second leading cause of death in Canada, yet many high-risk patients still cannot achieve guideline-recommended LDL-C targets. HLS estimates that more than half a million Canadians may benefit from NILEMDO. NILEMDO provides a novel, oral pathway for LDL-C lowering while being less likely to cause muscle-related side effects that limit statin adherence for many patients. In clinical practice, physicians typically initiate therapy with a statin, then add ezetimibe if additional LDL-C lowering is needed. NILEMDO fits directly into this established treatment paradigm, providing a meaningful step-up option for patients who remain above their LDL-C target on combination therapy or who cannot tolerate adequate statin doses. NILEMDO can be used alone or in combination with other LDL-lowering agents, including statins, ezetimibe, and PCSK9 inhibitors. The approval of NILEMDO is supported by the CLEAR Outcomes trial, a landmark randomized, double-blind cardiovascular outcomes study in nearly 14,000 patients with high cardiovascular risk who were unable to take recommended statin therapy. The trial demonstrated that bempedoic acid significantly reduced the risk of major adverse cardiovascular events (MACE), including cardiovascular death, non-fatal myocardial infarction, non-fatal stroke, and coronary revascularization. Nilemdo has been submitted for reimbursement under private and public plans and is currently under review. HLS is expecting meaningful private payer coverage in Second Quarter and potential for public reimbursement in late 2026. HLS is also advancing its regulatory submission for NEXLIZET (bempedoic acid and ezetimibe), a once-daily combination pill that combines two complementary LDL-lowering mechanisms. NEXLIZET demonstrated approximately 38% LDL-C reduction in clinical trials. HLS is working with its partner Esperion Therapeutics Inc. to respond to Health Canada's outstanding requirements as expeditiously as possible and anticipates a 2027 commercial launch. NILEMDO (bempedoic acid) is a once-daily oral medicine indicated in Canada to reduce LDL-C and the risk of major cardiovascular events in adults who require additional LDL-C lowering due to an inability to reach target levels with currently available therapies or due to statin intolerance. NILEMDO is approved and marketed globally, including in the United States (as NEXLETOL) and in Europe, where it has been available since 2020. In Canada, NILEMDO will benefit from eight years of data protection starting from its November 17, 2025, approval date. This period, combined with existing and pending patents, provides market exclusivity for the drug extending until 2040. Announcement • Feb 26
HLS Therapeutics Inc. to Report Q4, 2025 Results on Mar 12, 2026 HLS Therapeutics Inc. announced that they will report Q4, 2025 results on Mar 12, 2026 Announcement • Nov 19
Esperion Partner Hls Therapeutics Announces Approval of Nilemdo®? for the Reduction Ofdl-Cholesterol in Canadians At Risk of Cardiovascular Disease Esperion Therapeutics Inc. announced that HLS Therapeutics Inc. the Company's partner in Canada for the development and commercialization of NILEMDO®? (bempedoic acid) and NEXLIZET®? (bem Pedoic acid and ezetimibe), has received approval from Health Canada to market NILEMDO for the reduction of LDL-Cholesterol in Canadians at risk of cardiovascular disease. Commercial launch for NILEMDO is expected in second quarter 2026. According to the Government of Canada, approximately one in 12 Canadian adults aged 20 and over, which represents 2.6 million people, are living with diagnosed heart disease. It is the second leading cause of death in Canada, with approximately 14 Canadian adults aged 20 and over dying every hour due to diagnosed heart disease. Announcement • Nov 13
HLS Therapeutics Inc. Updates Earnings Guidance for the Full Year 2025 HLS Therapeutics Inc. updated earnings guidance for the full year 2025. For the year, the company expects Consolidated revenue of $55 million-$56 million, consisting of: Vascepa revenue growth in the mid-teen percentages (compared to prior estimate of 18%- 26% growth);Canada Clozaril revenue decline of 4%-5% (compared to prior estimate of flat year-over-year revenue); U.S. Clozaril revenue decline of 2%-4% year-over-year is unchanged; Royalty revenue of $0.6 million-0.75 million (50%-60% decline) is unchanged. Announcement • Oct 30
HLS Therapeutics Inc. to Report Q3, 2025 Results on Nov 13, 2025 HLS Therapeutics Inc. announced that they will report Q3, 2025 results at 12:30 PM, US Eastern Standard Time on Nov 13, 2025 Announcement • Jul 31
HLS Therapeutics Inc. to Report Q2, 2025 Results on Aug 14, 2025 HLS Therapeutics Inc. announced that they will report Q2, 2025 results on Aug 14, 2025 Announcement • Apr 24
HLS Therapeutics Inc. to Report Q1, 2025 Results on May 08, 2025 HLS Therapeutics Inc. announced that they will report Q1, 2025 results on May 08, 2025 Announcement • Apr 21
HLS Therapeutics Inc., Annual General Meeting, Jun 20, 2025 HLS Therapeutics Inc., Annual General Meeting, Jun 20, 2025. Announcement • Mar 13
HLS Therapeutics Inc Appoints Christine Elliott to its Board of Directors HLS Therapeutics Inc. announced that Christine Elliott has been appointed to the Company's Board of Directors (the "Board"), effective immediately. Ms. Elliott served as Ontario's Deputy Premier and Minister of Health from 2018 to 2022, where she gained significant knowledge of, and experience with, the operation of Ontario's health system. From 2015 to 2018, she was appointed as Ontario's first Patient Ombudsman, advocating for patient rights and healthcare transparency. Prior to that, she was a member of the Ontario legislature from 2006-2015. In addition to her public service, Ms. Elliott currently serves as Counsel in the health group at Fasken Martineau DuMoulin LLP in Toronto. Ms. Elliott holds a Bachelor of Laws degree from Western University. Her dedication to community service is evident through her co-founding of the Abilities Centre in Whitby, Ontario. She has also served on the boards of several organizations, including Durham Mental Health Services, Grandview Children's Centre, and the Lakeridge Health Whitby Foundation. Announcement • Feb 27
HLS Therapeutics Inc. to Report Q4, 2024 Results on Mar 13, 2025 HLS Therapeutics Inc. announced that they will report Q4, 2024 results on Mar 13, 2025 Reported Earnings • Nov 08
Third quarter 2024 earnings released: US$0.15 loss per share (vs US$0.21 loss in 3Q 2023) Third quarter 2024 results: US$0.15 loss per share (improved from US$0.21 loss in 3Q 2023). Revenue: US$14.1m (down 12% from 3Q 2023). Net loss: US$4.84m (loss narrowed 30% from 3Q 2023). Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 42% per year, which means it is performing significantly worse than earnings. Announcement • Oct 24
HLS Therapeutics Inc. to Report Q3, 2024 Results on Nov 07, 2024 HLS Therapeutics Inc. announced that they will report Q3, 2024 results on Nov 07, 2024 Reported Earnings • Aug 09
Second quarter 2024 earnings released: US$0.18 loss per share (vs US$0.29 loss in 2Q 2023) Second quarter 2024 results: US$0.18 loss per share (improved from US$0.29 loss in 2Q 2023). Revenue: US$14.5m (down 12% from 2Q 2023). Net loss: US$5.68m (loss narrowed 40% from 2Q 2023). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. Announcement • Jul 25
HLS Therapeutics Inc. to Report Q2, 2024 Results on Aug 08, 2024 HLS Therapeutics Inc. announced that they will report Q2, 2024 results on Aug 08, 2024 Announcement • May 29
HLS Therapeutics Inc. Announces New Study Published on the Impact of Pharmaceutical Support Programs on Persistence with Clozapine Treatment HLS Therapeutics Inc. announced that results from a Quebec-based retrospective study examining the positive impact of pharmaceutical support programs ("PSPs") on persistence with clozapine treatment have been published in the Journal of Clinical Pharmacology and Therapeutics. The publication, titled "The Impact of Pharmaceutical Support Programs on Persistence: Clinical, Human and Economic Impact of Clozapine Support Programs in Quebec, Canada", is based on an 18-month persistence study conducted using data from the Regie de l' Assurance Maladie du Quebec ("RAMQ") for patients who were initiated on clozapine treatment. Clozapine PSPs were created to provide additional services to help health care providers manage patients being treated with clozapine which is the only approved treatment for Treatment-Resistant Schizophrenia ("TRS") in Canada. Approximately 25-30% of people with Schizophrenia have TRS. HLS's branded version of clozapine is CLOZARIL®? and its associated PSP is the CLOZARIL Support and Assistance Network, or CSAN®?. The study highlights that helping patients maintain persistence with Clozapine treatment is a critical success factor for the management of TRS patients, resulting in reduced pain and suffering of the patient, improved treatment benefits, and reduced health care costs. The study found that persistence rates were better when clozapine was paired with a PSP, including a 69% reported persistence rate overall for CSAN, as opposed to a 25% persistence rate without a program. The study also notes that differences in the offerings between PSPs can have an impact on persistence, placing varying demands on the health care system. Announcement • May 12
HLS Therapeutics Inc Updates Consolidated Revenue Guidance for the Full Year 2024 HLS Therapeutics Inc. updated consolidated revenue guidance for the full year 2024. for the year, the company is lowering its full year consolidated revenue guidance to a range of $60 million - $62 million from $63.5 million -$66.5 million. Buy Or Sell Opportunity • May 11
Now 30% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.4% to €2.74. The fair value is estimated to be €3.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 23%. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings are also forecast to grow by 35% per annum over the same time period. Reported Earnings • May 10
First quarter 2024 earnings released: US$0.19 loss per share (vs US$0.18 loss in 1Q 2023) First quarter 2024 results: US$0.19 loss per share (further deteriorated from US$0.18 loss in 1Q 2023). Revenue: US$12.5m (down 16% from 1Q 2023). Net loss: US$6.11m (loss widened 5.4% from 1Q 2023). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Announcement • Apr 27
HLS Therapeutics Inc. to Report Q1, 2024 Results on May 09, 2024 HLS Therapeutics Inc. announced that they will report Q1, 2024 results on May 09, 2024 New Risk • Apr 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$9.1m net loss in 3 years). Share price has been volatile over the past 3 months (6.9% average weekly change). Announcement • Apr 09
HLS Therapeutics Inc., Annual General Meeting, Jun 07, 2024 HLS Therapeutics Inc., Annual General Meeting, Jun 07, 2024. Breakeven Date Change • Mar 17
No longer forecast to breakeven The 3 analysts covering HLS Therapeutics no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$3.90m in 2026. New consensus forecast suggests the company will make a loss of US$9.10m in 2026. Announcement • Mar 15
HLS Therapeutics Inc. Provides Consolidated Earnings Guidance for the Fiscal Year 2024 HLS Therapeutics Inc. provided consolidated earnings guidance for the fiscal year 2024. for the year, the company expects consolidated revenue of $63.5 million-66.5 million, or 1%-5% growth. New Risk • Mar 15
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$28m Forecast net loss in 3 years: US$9.1m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$9.1m net loss in 3 years). Market cap is less than US$100m (€86.5m market cap, or US$94.3m). Reported Earnings • Mar 14
Full year 2023 earnings released: US$0.85 loss per share (vs US$0.73 loss in FY 2022) Full year 2023 results: US$0.85 loss per share (further deteriorated from US$0.73 loss in FY 2022). Revenue: US$63.1m (up 2.6% from FY 2022). Net loss: US$27.5m (loss widened 17% from FY 2022). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings. Announcement • Mar 01
HLS Therapeutics Inc. to Report Q4, 2023 Results on Mar 14, 2024 HLS Therapeutics Inc. announced that they will report Q4, 2023 results on Mar 14, 2024 Breakeven Date Change • Dec 31
Forecast to breakeven in 2026 The 4 analysts covering HLS Therapeutics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$3.90m in 2026. Average annual earnings growth of 62% is required to achieve expected profit on schedule. Announcement • Dec 19
HLS Therapeutics Inc. Announces CFO Changes HLS Therapeutics Inc. announced that Tim Hendrickson is stepping down as CFO to pursue other interests and John Hanna, currently a director of the Company, has been appointed Interim CFO. Mr. Hendrickson will remain in his role until January 26, 2024, to support the transition and the Company will undertake a search for a permanent CFO in the new year. While serving as Interim CFO, Mr. Hanna will remain on the HLS Board as a non-independent director. Mr. Hanna is an accomplished leader with more than 25 years of diverse experience, including in the healthcare industry, as a C-level executive helping companies to drive revenue growth, scale their operations and expand operating profitability. Previously, he served as CFO at Vecima Networks, Inca Networks and eBuyNow and held a variety of senior financial roles with The Westaim Corporation. In addition to being a member of HLS's Board and the Audit Committee, Mr. Hanna has also served as a board member for a number of technology companies. He holds a B.Sc., Biology from University of Victoria, an MBA from the University of British Columbia and is a designated accountant (CPA, CGA). Announcement • Nov 15
HLS Therapeutics Inc. Announces Results from New REDUCE-IT Analyses HLS Therapeutics Inc. announced results from new REDUCE-IT analyses adding to the growing body of knowledge on the clinical impact of Vascepa (icosapent ethyl). These new analyses show that among statin-treated patients in a prespecified subgroup with history of Metabolic Syndrome, but without diabetes at baseline, the addition of Vascepa (icosapent ethyl) significantly reduced the risk of first and total cardiovascular events. This subgroup was almost exclusively comprised of patients with established cardiovascular disease. The results were presented at the American Heart Association ("AHA") Scientific Sessions 2023, which took place November 11 – 13, 2023 in Philadelphia, PA and were simultaneously published in the European Heart Journal Open. It is estimated that 1 in 5 Canadians have Metabolic Syndrome1, a cluster of 3 or more of 5 risk factors: 1) waist circumference =102 cm in men and =88 cm in women, 2) blood pressure =130/85 mmHg, 3) fasting glucose =5.6 mmol/L, 4) triglycerides =1.7 mmol/L, and 5) HDL-C <1.00 mmol/L in men and <1.30 mmol/L in women. Among patients with Metabolic Syndrome but without diabetes at baseline (n=2866), those who were allocated to icosapent ethyl ("IPE") treatment with a median follow-up time of 4.9 years experienced a 29% relative risk reduction for the primary composite endpoint, defined as cardiovascular death, nonfatal myocardial infarction, nonfatal stroke, coronary revascularization, or unstable angina resulting in hospitalization (P <0.0001) (Absolute Risk Reduction [ARR]=5.9%; number needed to treat [NNT]=17) and a 41% reduction in total (first plus subsequent) events (P <0.0001) compared with placebo. The risk for the key secondary composite endpoint, defined as cardiovascular death, nonfatal myocardial infarction, or nonfatal stroke was reduced by 20% (P=0.05) and there was a 27% reduction in fatal/nonfatal myocardial infarction (P=0.03), 47% reduction in urgent/emergent revascularization (P <0.0001) and 58% reduction in hospitalization for unstable angina (P <0.0001). Non-statistically significant reductions were observed in cardiac arrest (44%) and sudden cardiac death (34%). The large relative and absolute risk reductions observed supports IPE as an important therapeutic option for patients with metabolic syndrome at high cardiovascular risk, despite lacking robust effects on any metabolic syndrome component. Limitations of these analyses, some of which are exploratory in nature, include the relatively small number of events in certain subgroups or for certain endpoints, such as cardiac arrest and sudden cardiac death. In addition, variation in subjective measures (e.g., waist circumference) may have affected classification of metabolic syndrome. New Risk • Nov 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €88.8m (US$94.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (€88.8m market cap, or US$94.9m). Reported Earnings • Nov 10
Third quarter 2023 earnings released: US$0.21 loss per share (vs US$0.14 loss in 3Q 2022) Third quarter 2023 results: US$0.21 loss per share (further deteriorated from US$0.14 loss in 3Q 2022). Revenue: US$16.0m (up 2.1% from 3Q 2022). Net loss: US$6.90m (loss widened 56% from 3Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Pharmaceuticals industry in Germany. Announcement • Oct 27
HLS Therapeutics Inc. to Report Q3, 2023 Results on Nov 09, 2023 HLS Therapeutics Inc. announced that they will report Q3, 2023 results on Nov 09, 2023 Breakeven Date Change • Aug 13
Forecast to breakeven in 2025 The 4 analysts covering HLS Therapeutics expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 81% per year to 2024. The company is expected to make a profit of US$14.0m in 2025. Average annual earnings growth of 69% is required to achieve expected profit on schedule. Reported Earnings • Aug 11
Second quarter 2023 earnings released: US$0.29 loss per share (vs US$0.28 loss in 2Q 2022) Second quarter 2023 results: US$0.29 loss per share (further deteriorated from US$0.28 loss in 2Q 2022). Revenue: US$16.4m (up 5.7% from 2Q 2022). Net loss: US$9.44m (loss widened 3.2% from 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Pharmaceuticals industry in Germany. Announcement • Aug 04
HLS Therapeutics Inc. to Report Q2, 2023 Results on Aug 10, 2023 HLS Therapeutics Inc. announced that they will report Q2, 2023 results on Aug 10, 2023 Board Change • Jul 02
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director John Hanna was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 23
HLS Therapeutics Inc. Announces Board Changes HLS Therapeutics Inc. announced that Mr. John Hanna has been appointed to the Board of Directors, while Greg Gubitz, Chair of the Board, is retiring from the Board. John Welborn, a current Board member, has been appointed Chair. These changes are effective immediately. Mr. Hanna is an accomplished leader with more than 25 years of diverse experience, including in the healthcare industry, as a C-level executive helping companies to drive revenue growth, scale their operations and expand operating profitability. Given this experience and background, Mr. Hanna has also been appointed as a member of the HLS Audit Committee.Mr. Hanna is currently Chief Financial Officer of Inca Networks, where he is responsible for the financial direction and strategy of the company. With more than 25 years of experience in operational and corporate finance roles, Mr. Hanna has a proven record of implementing change to generate top-line growth while controlling costs. Previously, Mr. Hanna served as Chief Financial Officer at Vecima Networks and eBuyNow and held a variety of senior financial roles with The Westaim Corporation. Mr. Hanna has also served as a board member for a number of technology companies, including Vector 12 Corporation. He holds an MBA from the University of British Columbia and is a designated accountant (CPA, CGA). Announcement • Jun 17
HLS Therapeutics Inc. Elects Christian Roy as Director HLS Therapeutics Inc. announced that at its AGM held on June 16, 2023, the shareholders elected Christian Roy as director. Recent Insider Transactions • Jun 14
Independent Director recently bought €290k worth of stock On the 8th of June, John Welborn bought around 97k shares on-market at roughly €2.99 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €1.3m more in shares than they bought in the last 12 months. New Risk • Jun 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 92% Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (US$610k net loss in 3 years). Announcement • Jun 09
Hls Therapeutics Inc. Announces Resignation of Director HLS Therapeutics Inc. announced that J. Spencer Lanthier and Don DeGolyer will not be standing for re-election to the HLS board of directors at HLS' upcoming annual meeting of shareholders to be held on June 16, 2023 (the "AGM"). Mr. Lanthier's and Mr. DeGolyer's terms as directors will expire at the conclusion of the AGM. The number of directors to be elected at the AGM will be reduced from ten to eight. Reported Earnings • May 12
First quarter 2023 earnings released: US$0.18 loss per share (vs US$0.11 loss in 1Q 2022) First quarter 2023 results: US$0.18 loss per share (further deteriorated from US$0.11 loss in 1Q 2022). Revenue: US$14.8m (up 1.4% from 1Q 2022). Net loss: US$5.79m (loss widened 60% from 1Q 2022). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Pharmaceuticals industry in Germany. Announcement • May 04
HLS Therapeutics Inc. to Report Q1, 2023 Results on May 11, 2023 HLS Therapeutics Inc. announced that they will report Q1, 2023 results on May 11, 2023 Upcoming Dividend • Apr 20
Upcoming dividend of CA$0.05 per share at 3.3% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 15 June 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.5%). Reported Earnings • Mar 17
Full year 2022 earnings released: US$0.73 loss per share (vs US$0.41 loss in FY 2021) Full year 2022 results: US$0.73 loss per share (further deteriorated from US$0.41 loss in FY 2021). Revenue: US$61.5m (up 2.4% from FY 2021). Net loss: US$23.6m (loss widened 80% from FY 2021). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Pharmaceuticals industry in Germany. Upcoming Dividend • Jan 23
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 30 January 2023. Payment date: 15 March 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.6%). Reported Earnings • Nov 16
Third quarter 2022 earnings released: US$0.14 loss per share (vs US$0.061 loss in 3Q 2021) Third quarter 2022 results: US$0.14 loss per share (further deteriorated from US$0.061 loss in 3Q 2021). Revenue: US$15.7m (up 4.3% from 3Q 2021). Net loss: US$4.41m (loss widened 123% from 3Q 2021). Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Pharmaceuticals industry in Germany. Reported Earnings • Nov 11
Third quarter 2022 earnings released: US$0.14 loss per share (vs US$0.061 loss in 3Q 2021) Third quarter 2022 results: US$0.14 loss per share (further deteriorated from US$0.061 loss in 3Q 2021). Revenue: US$15.7m (up 4.3% from 3Q 2021). Net loss: US$4.41m (loss widened 123% from 3Q 2021). Revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Pharmaceuticals industry in Germany. Upcoming Dividend • Oct 21
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 15 December 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (2.9%). Recent Insider Transactions • Sep 03
Co-Founder & Chairman recently sold €1.6m worth of stock On the 25th of August, Gregory Gubitz sold around 175k shares on-market at roughly €9.30 per share. This transaction amounted to 78% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Gregory's only on-market trade for the last 12 months. Breakeven Date Change • Aug 26
Forecast breakeven date pushed back to 2024 The 5 analysts covering HLS Therapeutics previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 55% per year to 2023. The company is expected to make a profit of US$17.9m in 2024. Average annual earnings growth of 72% is required to achieve expected profit on schedule. Reported Earnings • Aug 12
Second quarter 2022 earnings released: US$0.28 loss per share (vs US$0.069 loss in 2Q 2021) Second quarter 2022 results: US$0.28 loss per share (down from US$0.069 loss in 2Q 2021). Revenue: US$15.5m (up 3.9% from 2Q 2021). Net loss: US$9.14m (loss widened 316% from 2Q 2021). Over the next year, revenue is forecast to grow 70%, compared to a 6.4% growth forecast for the industry in Germany. Upcoming Dividend • Jul 21
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 28 July 2022. Payment date: 15 September 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (3.1%). Recent Insider Transactions • May 15
Co-Founder & Executive Chairman recently sold €461k worth of stock On the 12th of May, William Wells sold around 50k shares on-market at roughly €9.23 per share. This was the largest sale by an insider in the last 3 months. William has been a seller over the last 12 months, reducing personal holdings by €1.2m. Reported Earnings • May 06
First quarter 2022 earnings released: US$0.11 loss per share (vs US$0.15 loss in 1Q 2021) First quarter 2022 results: US$0.11 loss per share (up from US$0.15 loss in 1Q 2021). Revenue: US$14.6m (up 1.7% from 1Q 2021). Net loss: US$3.62m (loss narrowed 24% from 1Q 2021). Over the next year, revenue is forecast to grow 54%, compared to a 4.7% growth forecast for the industry in Germany. Breakeven Date Change • Apr 27
Forecast breakeven date pushed back to 2023 The 5 analysts covering HLS Therapeutics previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 47% to 2022. The company is expected to make a profit of US$43.6m in 2023. Average annual earnings growth of 45% is required to achieve expected profit on schedule. Upcoming Dividend • Apr 21
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 15 June 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.9%). Lower than average of industry peers (2.5%). Announcement • Apr 15
HLS Therapeutics Inc., Annual General Meeting, Jun 17, 2022 HLS Therapeutics Inc., Annual General Meeting, Jun 17, 2022. Breakeven Date Change • Mar 19
Forecast breakeven date pushed back to 2023 The 4 analysts covering HLS Therapeutics previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 88% to 2022. The company is expected to make a profit of US$42.0m in 2023. Average annual earnings growth of 48% is required to achieve expected profit on schedule. Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$0.41 loss per share (up from US$0.48 loss in FY 2020). Revenue: US$60.0m (up 7.0% from FY 2020). Net loss: US$13.1m (loss narrowed 14% from FY 2020). Revenue missed analyst estimates by 1.4%. Over the next year, revenue is forecast to grow 66%, compared to a 4.9% growth forecast for the industry in Germany. Upcoming Dividend • Jan 20
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 27 January 2022. Payment date: 15 March 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (3.4%). Lower than average of industry peers (2.4%). Recent Insider Transactions • Dec 10
Co-Founder & Executive Chairman recently sold €314k worth of stock On the 8th of December, William Wells sold around 30k shares on-market at roughly €10.47 per share. This was the largest sale by an insider in the last 3 months. William has been a seller over the last 12 months, reducing personal holdings by €531k. Reported Earnings • Nov 09
Third quarter 2021 earnings released: US$0.061 loss per share (vs US$0.055 loss in 3Q 2020) The company reported a solid third quarter result with improved revenues and control over costs, although losses increased. Third quarter 2021 results: Revenue: US$15.1m (up 15% from 3Q 2020). Net loss: US$1.98m (loss widened 14% from 3Q 2020). Upcoming Dividend • Oct 21
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 15 December 2021. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.3%). Breakeven Date Change • Sep 23
Forecast to breakeven in 2022 The 5 analysts covering HLS Therapeutics expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$8.29m in 2022. Average annual earnings growth of 63% is required to achieve expected profit on schedule. Recent Insider Transactions • Sep 02
Co-Founder & Director recently sold €1.2m worth of stock On the 27th of August, Gregory Gubitz sold around 100k shares on-market at roughly €12.25 per share. This was the largest sale by an insider in the last 3 months. Gregory has been a seller over the last 12 months, reducing personal holdings by €5.2m. Recent Insider Transactions • Aug 21
Co-Founder & Executive Chairman recently sold €116k worth of stock On the 19th of August, William Wells sold around 10k shares on-market at roughly €11.55 per share. This was the largest sale by an insider in the last 3 months. William has been a seller over the last 12 months, reducing personal holdings by €219k. Reported Earnings • Aug 06
Second quarter 2021 earnings released: US$0.07 loss per share (vs US$0.20 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$14.9m (up 19% from 2Q 2020). Net loss: US$2.20m (loss narrowed 66% from 2Q 2020). Upcoming Dividend • Jul 22
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 29 July 2021. Payment date: 15 September 2021. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.1%). Recent Insider Transactions • May 23
Chief Financial Officer recently bought €52k worth of stock On the 21st of May, Tim Hendrickson bought around 5k shares on-market at roughly €11.51 per share. This was the largest purchase by an insider in the last 3 months. Tim has been a buyer over the last 12 months, purchasing a net total of €92k worth in shares. Reported Earnings • May 08
First quarter 2021 earnings released: US$0.15 loss per share (vs US$0.005 profit in 1Q 2020) The company reported a soft first quarter result with weaker earnings and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: US$14.3m (up 3.1% from 1Q 2020). Net loss: US$4.75m (down US$4.91m from profit in 1Q 2020). Announcement • May 07
HLS Therapeutics Inc. Declares Dividend, Payable on September 15, 2021 HLS Therapeutics Inc. announced that the Board of Directors declared a dividend of CAD 0.05 per outstanding common share to be paid on September 15, 2021, to shareholders of record as of July 30, 2021. Upcoming Dividend • Apr 22
Upcoming dividend of CA$0.05 per share Eligible shareholders must have bought the stock before 29 April 2021. Payment date: 15 June 2021. Trailing yield: 1.0%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.3%). Recent Insider Transactions • Apr 04
Co-Founder & Director recently sold €675k worth of stock On the 30th of March, Gregory Gubitz sold around 50k shares on-market at roughly €13.51 per share. This was the largest sale by an insider in the last 3 months. Gregory has been a seller over the last 12 months, reducing personal holdings by €3.6m. Announcement • Mar 19
HLS Therapeutics Inc. Declares Dividend, Payable on June 15, 2021 On March 17, 2021, the Board of Directors of HLS Therapeutics Inc. declared a dividend of CAD 0.05 per outstanding common share to be paid on June 15, 2021, to shareholders of record as of April 30, 2021. Reported Earnings • Mar 19
Full year 2020 earnings released: US$0.48 loss per share (vs US$0.67 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: US$56.1m (up 3.6% from FY 2019). Net loss: US$15.3m (loss narrowed 22% from FY 2019). Announcement • Mar 18
HLS Therapeutics Announces VASCEPA® Found in Prespecified and Post Hoc Analyses, REDUCE-IT® Study Presented at International Stroke Conference 2021 HLS Therapeutics Inc. announced the presentation of REDUCE-IT® STROKE at the International Stroke Conference 2021, being held virtually from March 17 – March 19, 2021, adding to the growing body of knowledge on the clinical impact of VASCEPA® (icosapent ethyl). These new analyses supported by Amarin Corporation plc were presented on behalf of all authors by Deepak L. Bhatt, M.D., M.P.H., Brigham and Women's Hospital, Harvard Medical School, Boston, MA. The REDUCE-IT STROKE analyses examined stroke rates across the enrolled patient population (n=8179). Enrolled patients were required to be treated with statins and other conventional therapies, and all patients had either established cardiovascular disease or diabetes and had other cardiovascular risk factors such as elevated triglyceride levels. Event rates for time to first fatal or nonfatal stroke were 2.4% for VASCEPA vs. 3.3% for placebo for a relative risk reduction (RRR) of 28% (p=0.01). Ischemic stroke time to first event rates were 2.0% for VASCEPA vs. 3.0% for placebo for a RRR of 36% (p=0.002). Hemorrhagic stroke occurred at low rates with no significant difference for VASCEPA vs. placebo (0.3% vs 0.2%; p=0.55). Stroke is a major and often debilitating cardiovascular event significantly impacting not only patients and their loved ones, but also the healthcare system. Patients with elevated triglycerides despite statin therapy have increased risk for stroke-related events. An estimated 1.6 million Canadians have heart disease or are living with the effects of a stroke, according to the Public Health Agency of Canada. Among seniors, 14.8% of those ages 65 to 74 years report having heart disease, with the proportion climbing to 22.9% over age 75. In this same age group, 7.1% of Canadians report living with the effects of a stroke. There is also concern that cardiovascular disease could increase because of increased prevalence of obesity and diabetes, which are two of its risk factors1. The REDUCE-IT STROKE abstract received the prestigious Paul Dudley White International Scholar Award, recognizing the authors with the highest ranked abstract across the United States at the International Stroke Conference 2021. The esteemed Paul Dudley White Award is named in honor of one of Boston's most revered cardiologists, Dr. Paul Dudley White, who was a founding father of the American Heart Association and an early leader in preventive cardiology. REDUCE-IT was designed and powered for the primary composite endpoint, of which stroke was one of five prespecified components; it was not powered for subgroup analysis. Stroke was a prespecified secondary endpoint within the testing hierarchy; ischemic stroke was a prespecified tertiary endpoint; stroke subgroup analyses were post hoc. No information was collected on stroke related disability, such as Rankin scores. Announcement • Mar 05
HLS Therapeutics Inc. to Report Q4, 2020 Results on Mar 18, 2021 HLS Therapeutics Inc. announced that they will report Q4, 2020 results at 6:30 AM, US Eastern Standard Time on Mar 18, 2021 Is New 90 Day High Low • Feb 20
New 90-day high: €11.70 The company is up 10.0% from its price of €10.67 on 20 November 2020. The German market is also up 10.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Healthcare industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €78.36 per share. Announcement • Jan 29
HLS Therapeutics Inc. Announces New Support from Independent Medical Societies for the Use of Vascepa HLS Therapeutics Inc. announced new support from independent medical societies for the use of Vascepa (icosapent ethyl) in reducing the risk of a Major Adverse Cardiovascular Event (MACE). Vascepa (icosapent ethyl) is now included in the treatment guidelines or otherwise recommended for use by 13 medical associations worldwide.2-14 These include American Diabetes Association; American Heart Association; National Lipid Association; American Association of Clinical Endocrinologists; American College of Endocrinology; Endocrine Society; European Society of Cardiology; European Atherosclerosis Society; Chinese
Society of Cardiology; Japan Circulation Society; Brazilian Society of Cardiology; and Thrombosis Canada. HLS expects that the relevant guidelines from the Canadian Cardiovascular Society will be reviewed and may be updated in 2021. Recent Insider Transactions • Dec 25
Co-Founder & Director recently sold €760k worth of stock On the 23rd of December, Gregory Gubitz sold around 70k shares on-market at roughly €10.85 per share. In the last 3 months, they made an even bigger sale worth €2.2m. Gregory has been a seller over the last 12 months, reducing personal holdings by €3.0m. Announcement • Dec 18
HLS Therapeutics Inc. Announces Update on Health Canada Filings for MyCare and Trinomia HLS Therapeutics Inc. announced updates on its filings with Health Canada for MyCare and Trinomia. The Company reported that Health Canada has approved five MyCare Psychiatry Lab Assay diagnostic tests from Saladax Biomedical Inc. ("Saladax") for use in measuring blood levels in patients taking any of the six most common antipsychotic drugs. HLS is the exclusive distributor of these products in Canada. Regarding Trinomia, a polypill of three common medications that is intended for secondary cardiovascular prevention, Health Canada issued a Notice of Deficiency ("NOD") indicating that additional scientific data may be required for approval. MYCARE LAB ASSAYS AND MYCARE INSITE: The approved MyCare Psychiatry Lab Assays are diagnostic tools that can be used on most large high-speed lab analyzers. They allow for the measuring and monitoring of blood drug concentration levels of clozapine, risperidone, paliperidone, aripiprazole, olanzapine, and quetiapine. For the first time, the timely monitoring of those hematological parameters is possible, and this diagnostic capability is considered an important step towards optimizing therapy for patients who are taking those medications. Currently under review at Health Canada is MyCare Insite, a complementary device that will enable the performance of similar tests at the point of care. Similar to a blood glucose test, MyCare Insite will be simple to use and require only a single drop of blood taken by a finger stick to measure patient drug levels, providing results in just minutes. Such point-of-care devices have consistently been shown to improve patient outcomes while also reducing healthcare costs. Using a point-of-care device to measure blood levels for common antipsychotic drugs could provide information to help healthcare practitioners determine if a patient is taking their medication, if optimal drug concentrations are being achieved and ultimately whether the proper therapy is being pursued. Approval of the MyCare Insite point-of-care device is expected in the first half of 2021. It is estimated that schizophrenia affects 1% of the population, or approximately 300,000 Canadians. Schizophrenia interferes with a person's ability to think clearly, manage emotions, make decisions and relate to others. The causes and the course of the illness is unique for each patient, making the diagnosis of its causes difficult. Research has linked schizophrenia to a multitude of possible causes, including aspects of brain chemistry and structure, as well as environmental causes. No single, simple course of schizophrenia treatment exists and patients suffering with the condition face various challenges in the health care system. Providing practitioners with diagnostic tools like those in the MyCare product line, which simplify and optimize the treatment process, could help those who contend with this serious illness. Similarly, the MyCare products may be used with bi-polar disorder patients to measure their blood concentrations of the indicated drug products. Bi-polar disorder affects up to 2.6% of the population, or approximately 910,000 Canadians. HLS received an NOD from Health Canada for its pending submission for Trinomia that may require additional scientific information pertaining to safety and efficacy to support the approval of the application. In addition, Health Canada noted that there is an on-going study using Trinomia, and that …a regulatory decision for Trinomia should await these study results. The ongoing study is titled, Secondary Prevention of Cardiovascular Disease in the Elderly (SECURE), a prospective randomized clinical trial comparing a polypill versus standard of care treatment strategies in post-myocardial infarction elderly patients, which has an estimated completion date of November 2021. Announcement • Dec 15
HLS Therapeutics Reports Efficacy and Safety Results from Pilot Study Treating COVID-19 Infected Outpatients with Vascepa® (Icosapent Ethyl) HLS Therapeutics Inc. announced the presentation of clinical results from the CardioLink-9 Trial, the first results of a study of Vascepa® (icosapent ethyl) in COVID-19 infected outpatients. The presentation, "First Human Trial of a Loading Dose of Icosapent Ethyl in Patients with COVID-19: Primary Results of the Vascepa COVID-19 CardioLink-9 Randomized Trial", was made virtually as a Late Breaker at the National Lipid Association ("NLA") Scientific Sessions 2020, and was presented on behalf of all authors by Deepak L. Bhatt, M.D., M.P.H., Brigham and Women's Hospital, Harvard Medical School, Boston, MA. The Vascepa COVID-19 CardioLink-9 Trial was a randomized, open-label trial enrolling 100 SARS-CoV-2 positive and symptomatic outpatients displaying at least one of the following: fever, cough, sore throat, shortness of breath, myalgia. Patients in the Vascepa arm received a loading dose of 8 g/day for 3 days followed by 4 g/day for 11 days on top of usual care. Patients randomized to the non-active arm received usual care. Baseline characteristics were comparable between groups. The primary biomarker endpoint of the study was within-group changes in high-sensitivity C-reactive protein (hsCRP), a measure of inflammation. Within-group changes in D-dimer were also examined. Vascepa administration resulted in a 25% reduction in hsCRP (p=0.011) as well as a reduction in D-dimer (p=0.048). In addition to these biomarker changes, assessment was made of COVID-19 symptom changes from baseline to 14 days in the influenza patient-reported outcome (FLU-PRO) score, a validated patient-reported outcome measure designed to evaluate the presence, severity and duration of flu symptoms in clinical trials. Vascepa administration resulted in a significant 52% reduction of the total FLU-PRO prevalence score as compared to a 24% reduction in the usual care group (p=0.003 between groups), with reductions across individual score domains, including a significantly larger reduction compared to usual care in the body/systemic domain (54% vs. 26%; p=0.003). Significant reductions in the FLU-PRO symptom score compared to usual care were also observed in the total symptom score (p=0.003), as well as in the body/systemic (p=0.0007) and chest/respiratory (p=0.01) domains. Limitations of this study include the modest sample size, the unblinded nature of this randomized trial, and that the trial was not powered for clinical events. These results have not yet been published or reviewed by regulatory authorities. Additional study is needed. This randomized trial represents the first human experience with an 8 g/day loading dose of icosapent ethyl and has suggested short-term safety and tolerability in a modest sample size. Regarding COVID-19, this study provides the first evidence of potential early anti-inflammatory effect of icosapent ethyl in symptomatic, COVID-19 positive outpatients. HLS added that the Vascepa COVID-19 CardioLink-9 trial is the first in a series of ongoing investigator-sponsored studies into the potential role of Vascepa therapy in COVID-19 settings. Other ongoing trials include PREPARE-IT: Prevention of COVID19 With EPA in Healthcare Providers at Risk - Intervention Trial sponsored by Estudios Clínicos Latino América, and A Pragmatic Randomized Trial of Icosapent Ethyl for High-Cardiovascular Risk Adults (MITIGATE) sponsored by Kaiser Permanente. Recent Insider Transactions • Nov 27
Co-Founder & Director recently sold €2.2m worth of stock On the 19th of November, Gregory Gubitz sold around 200k shares on-market at roughly €10.97 per share. This was the largest sale by an insider in the last 3 months. This was Gregory's only on-market trade for the last 12 months. 
