Daily Brief Health Care: Morepen Laboratories, Longeveron , Monogram Orthopaedics and more

In today’s briefing:

Morepen Laboratories (MORE IN): Strong Performance in FY24; Positive Momentum to Sustain
LGVN: Focus and Cost Controls Improve Outlook
MGRM: Monogram reports 1st quarter 2024 financial results and provided updates on the development of its mB s Total Knee Arthroplasty (TKA) System.

Morepen Laboratories (MORE IN): Strong Performance in FY24; Positive Momentum to Sustain

In FY24, Morepen Laboratories (MORE IN) achieved revenue, EBITDA, and PAT growth of 20%, 101% and 150%, YoY, respectively, driven by medical devices and API businesses.
Business has stabilized in FY24 and Morepen is seeing fresh buying of medical devices. With expanding capacity, glucometer and BP monitor are expected to maintain ~30% growth momentum.
Morepen aims to expand API product portfolio and geographic reach, while maintaining global leadership positioning in six key widely used API products.

Longeveron is focusing on using its primary treatment, Lomecel-B, to fight a rare pediatric heart birth defect that devastates families.
Under new leadership, the company has focused on specific objectives, cut costs, and looked to maximize revenue opportunities.
We believe the company is on a better and more sustainable track and are excited about ongoing developments and the just released 1Q2024 earnings report reinforces that view.

Monogram Technologies (NASDAQ: MGRM) is a medical device company developing a product solution architecture to enable patient-optimized orthopedic implants at scale by linking 3D printing and robotics with advanced pre-operative imaging.
The company delivered its first surgical robot in November 2023, will market its solutions to international markets in 2024, and anticipates 510(k) submission in the second half of 2024.The company has $10.1 million in cash, and we believe the company will be funded throughout 2024.
We believe MGRM stock to be undervalued at this time with several significant potential catalysts within the next 12 months.

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