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CollabRx, Inc. Initial Research Report Released
2/26/2014 10:30:25 AM
New York, NY - On February 25, 2014, Taglich Brothers released an initial research report on CollabRx, Inc. (CLRX) with a Speculative Buy rating and a 12-month price target of $10.00 per share. The report noted the following key investment considerations:
• The US genetic testing market could expand from $5 billion in 2012 to $25 billion by 2021, its growth driven by improving testing technology, heightened physician interest, the proven clinical utility of genetic testing, particularly in oncology, and steep reductions in its cost.
• The volume and complexity of data generated by genetic tests has strained information technology and the ability of most clinicians to interpret results properly, making competent bioinformatics critical to improving the utility of genetic tests.
• With its proprietary architecture and analytical software, and access to medical databases and experts, CollabRx has created a product that facilitates physicians’ understanding of genetic test results and provides highly relevant treatment decision support.
• Sales of CollabRx’s recently launched Genetic Variation Annotation™ (GVA) and Therapy Finders™ (TF) products for laboratories and physicians, respectively, should begin to accelerate during the next year, increasing steadily as widening physician interest and improving clinical utility drive gains in genetic test volume.
• The company will operate at a loss for the next two years or so but revenue, by our estimates, should ramp to $16.5 million by 2020.
• With the commercialization of GVA and Therapy Finders, cash burn will increase, depleting most of the cash amassed by predecessor Tegal in 2004 and 2005. At recent burn rates, the company will have to raise additional funds by mid-2015.
The full report can be viewed at http://www.taglichbrothers.com/equityuniverse/companies/collabrx/collabrx.aspx.
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CollabRx, Inc. (NasdaqCM: CLRX), headquartered in San Francisco, CA, is a bioinformatics company. A specialized medical database built by the company, continually updated by software systems tap into an array of online medical and scientific resources and collect input from more than 75 experts at academic and medical institutions. That information provides substantial value-add content to results of genetic tests ordered for the diagnosis and evaluation of cancer cases. The information provided by CollabRx provides clinicians with actionable information for treatment strategies that draw on expert opinions and current data on relevant pharmaceuticals and clinical trials.
CollabRx’s data content and analytics provide treatment decision support to oncologists, a choice dictated by the high US cancer mortality rate and the demonstrated clinical utility of genomic testing in cancer treatment. Sharp reductions in the cost of genetic testing have placed the service within easier reach of physicians, contributing to an increase in demand.
Unlike genomic laboratories that bundle in-house analytics with their test results, CollabRx is a pure bioinformatics company that draws its data from, and bases its analytics on, independent resources, including 75 uncompensated clinicians from leading academic institutions. Through products delivered via SaaS (software-as- a-service) CollabRx provides reference and hospital laboratories with a high-value service add-on while sparing them the need to make sizable investments in computer equipment and software development.
Taglich Brothers, Inc. is full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.
The Taglich Brothers' Equity Research department is dedicated to providing research reports that are informative, insightful and illuminating. Reports are designed to distill volumes of investment information into a concise, straightforward format so that busy professional investors can make informed investment decisions.
The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statements are the opinion of Taglich Brothers, Inc. and are not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in the reports are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. All research issued by Taglich Brothers, Inc. is based on public information. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with the company mentioned and was not a manager or co-manager of any offering for the company within the last three years.
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