Aura Gets CE Mark
Brian Marckx, CFA
Verisante (V.VRS) continues to deliver on key milestones and this morning announced that they have obtained CE Mark for approval to sell Aura in Europe. CE Marking also allows Verisante to market the device in Australia. The approval comes on the heels of Health Canada regulatory clearance which was granted in mid-October. Verisante will initially roll-out Aura in Germany, Austria and Switzerland.
As we noted following Health Canada approval, Verisante hitting these significant milestones towards commercialization of Aura reduces downside risk in the share price and provides further support that the stock trades cheaper than warranted. We cover the company with an Outperform rating and a $2.60/share price target.
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