MagForce - Time to capitalise on growth potential

In FY20, MagForce made steady progress in its strategy to drive uptake of its nanotechnology-based thermal ablation treatment, NanoTherm. In Europe, NanoTherm is approved for glioblastoma (brain tumours) and, despite the considerable impact of COVID-19, MagForce saw a significant increase in treatments as it benefited from newly established treatment centres in Germany and Poland. In the US, NanoTherm is moving into the final phase (Stage 2b) of a registrational study in prostate cancer; approval and launch are now expected in H122 (vs H221 previously). Approval in this indication could be the catalyst for meaningful growth in the top line and the path to sustainable profitability. Our forecasts are under review.