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SeeThruEquity Initiates Coverage on Biotricity, Inc. (OTCQB: BTCY) with a Price Target of $4.20

Tuesday, 20 December 2016 09:00 AM

SeeThruEquity

NEW YORK, NY / ACCESSWIRE / December 20, 2016 / SeeThruEquity, the leading independent equity research firm focused on smallcap and microcap public companies, today announced it has initiated coverage on Biotricity, Inc. (OTCQB: BTCY) with a 12 month price target of $4.20.

The report is available here: BTCY Initiation Report.

We initiate coverage on Biotricity, Inc. (OTCQB: BTCY, "Biotricity") with a price target of $4.20. Based in Redwood City, CA, Biotricity is an emerging medical technology company specializing in remote monitoring solutions for chronic illnesses and disease management in diagnostic and post-diagnostic settings. Leveraging proprietary technology, Biotricity's solutions have medical and consumer applications in the large emerging markets for remote patient monitoring and connected health. Initially, Biotricity will target the market for monitoring cardiovascular disease (CVD), with its lead product Bioflux™. Bioflux™ is a wearable mobile cardiac telemetry (MCT) device, which enhances physicians' ability to monitor and diagnose CVD. Biotricity is pursuing a 510(k) regulatory pathway for Bioflux™, and management has stated that it expects to receive clearance to market the device in 1Q17. Longer term, the company expects to offer solutions for the chronic illness side of the consumer market, with a clinical-level solution for people at high risk for cardiovascular disease, and three additional medical areas - sleep apnea, fetal ECG monitoring, and diabetes monitoring, all of which represent multi-billion dollar opportunities if Biotricity can execute its plan.

We see a series of potential key events ahead for Biotricity over the next year, as the company plans the transition to a revenue-generating company in the large and fast-growing market for connected health products. On the regulatory front, Biotricity announced on October 16, 2016, that it had received clearance from the FDA for a key component of its lead solution, Bioflux™ for remotely monitoring and diagnosing CVD, and management's timeline for achieving FDA clearance to market the solution is 1Q17. If successful in this endeavor, FDA clearance for the company's first solution would be a significant milestone for Biotricity management, as it would position the company to begin sales and marketing activities in 2017, with 2018 likely the first full year of revenue. Moreover, there are two potential catalysts on the corporate development front. Biotricity is in the process of seeking growth capital, which management expects to deploy to fund operations and the initial commercialization plans for Bioflux™. As a small public company in the healthcare sector with limited financial resources, securing $3mn-$5mn in new capital would enable the company to plan and focus on growth and execution. Additionally, Biotricity management has stated its intent to seek to uplist to a national exchange, such as the Nasdaq CM or NYSE MKT, either in conjunction with or shortly following the raise. An uplisting to a national exchange should be a positive event for the company as it would likely broaden its potential investor base to include institutions restricted from investing in OTC-listed companies, and raise its profile and recognition in the industry - potentially making it easier to conduct sales and partnership activities.

Highlights from the report include:

Eyes on timing of Bioflux™ FDA clearance, launch

The key event in coming months for Biotricity will be the timing and result of the remaining hardware portion of its 510(k) submission for its first solution, Bioflux™. Bioflux™ is an ECG prescription monitoring device that performs mobile cardiac telemetry (MCT), providing real time wireless connectivity supported by a relationship with AT&T. Bioflux™ is designed to be an advanced, easy-to-use tool that enhances physicians' ability to monitor and diagnose cardiovascular disease (CVD). This represents a large initial opportunity for Biotricity - the overall market cardiac monitoring in the US is more than $9Bn per year, and remote monitoring is accounting for a growing share of this market with improvements in technology and cost saving potential. Biotricity licensed an FDA-approved software for Bioflux™ and is targeting 1Q17 for FDA clearance, which, if granted, would allow for commercial launch later in 2017. The company has already identified an approved billing code for Bioflux™, and believes it can benefit from a pricing model that increases physicians' net revenues per test while improving on competitive monitoring technologies Holter and Event Loop.

Future markets add to potential

Biotricity has also identified four new areas for growth, which augments its long run potential beyond Bioflux™. In 2017, the company plans to launch Biolife, a clinical-grade heart monitor solution for the chronic illness side of the consumer market, aimed at those at high risk of or diagnosed with cardiovascular disease. In the healthcare market, Biotricity is planning follow-on products targeting sleep apnea, fetal ECG monitoring, and diabetes monitoring - each of which represent billion dollar opportunities.

Please review important disclosures at www.seethruequity.com.

About Biotricity Inc.

Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. biotricity's R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system. www.Biotricity.com.

About SeeThruEquity

Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.

SeeThruEquity is approved to contribute its research reports and estimates to Thomson One Analytics (First Call), the leading estimates platform on Wall Street, as well as Capital IQ and FactSet. SeeThruEquity maintains one of the industry's most extensive databases of opt-in institutional and high net worth investors. The firm is headquartered in Midtown Manhattan in New York City.

For more information visit www.seethruequity.com.

Contact:

SeeThruEquity
[email protected]

SOURCE: SeeThruEquity

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Company Update
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