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Emerging Stocks Down Under 7 December 2021: Lumos Diagnostics, Rhinomed, Change Financial
Lumos Diagnostics: Banking on FDA approval
In today’s edition of Emerging Stocks Down Under, headquartered in South Melbourne, Lumos Diagnostics IPOed on the ASX on 5 July 2021 at $1.25 per share, raising $63m. The company develops rapid point-of-care diagnostic tests, as well as proprietary digital readers. The company currently has three products on the market and an additional five in development. Unfortunately for early shareholders, the stock has done rather poorly since its IPO, diving 27.2% to $0.91 per share and while the market consensus calls for revenue to almost double to $45.7m by FY24, the company is expected to still be operating at a loss by that time.
Also in today’s edition, a look at nasal product developer Rhinomed (ASX: RNO) and payment software developer Change Financial (ASX: CCA).
Click here to read the previous edition of Emerging Stocks Down Under published 30 November 2021
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