Medlab Clinical - Progressing on multiple fronts

Medlab Clinical has announced that it has cleared the Securities Exchange Commission’s (SEC’s) comments on its Nasdaq listing and is now preparing to finalise its application with its US broker, Alliance Global Partners. After this announcement, we expect Medlab will remain on track to meet its listing target timeline of Q1 CY23, which coincides with the anticipated investigational new drug (IND) submission for NanaBis in the US (to start Phase III trials). Due to the high activity and liquidity associated with the US biotech market, the potential Nasdaq listing could support the company in progressing its development pipeline. Our valuation for Medlab remains unchanged at A$236.1m or A$103.5/share.