[Click eStock] "Quantamatrix, Sepsis Solution Commercialization Expected... Undervalued Compared to Competitors"

[Asia Economy Reporter Hyunseok Yoo] Hanyang Securities analyzed on the 23rd that Quantamatrix's dRAST device, which diagnoses antibiotic resistance in sepsis, is expected to be commercialized. No investment opinion or target price was provided.

Quantamatrix is currently selling dRAST, a device that diagnoses antibiotic resistance in sepsis. Sepsis is a disease where the mortality rate rapidly increases over time after onset, and dRAST provides results about 2 days (30 to 50 hours) faster than conventional tests. It enables rapid antibiotic prescription, making it a useful device for emergency patients.

Quantamatrix has completed or is conducting performance evaluations of dRAST in 14 hospitals across Europe. Commercialization is expected soon. Yongho Kim, a researcher at Hanyang Securities, said, "Due to the impact of COVID-19 last year, performance evaluations and purchase reviews were delayed, so commercialization did not occur at the expected time. However, with the distribution of vaccines, the plan to enter performance evaluations at 64 sites within the year, which was the target at the time of listing, is still considered valid." He added, "In Korea, performance evaluations are underway at five hospitals, with commercialization targeted for the second half of the year, and it is expected to be possible as early as the third quarter."

In particular, Researcher Kim emphasized that Quantamatrix's value has been evaluated lower compared to competitors. He explained, "The only competitor selling a device similar to dRAST is the U.S. company Accelerated Diagnostics, which currently has a market capitalization of about 600 billion KRW, while Quantamatrix is at about 200 billion KRW. The competitor's product can diagnose one specimen at a time, whereas dRAST can diagnose up to 15 specimens at once, and the reagent volume is only about 13% of the competitor's product."

Additionally, growth in dementia-related products is also expected in the future. He said, "Quantamatrix operates mainly in sepsis diagnostic devices (dRAST, QID), tuberculosis drug susceptibility testing devices (QDST), and early dementia diagnostic kits (QPLEX). Among these, the dementia diagnostic kit uses blood-based diagnostic technology similar to PeopleBio and, unlike other companies targeting severe dementia, targets the mild cognitive impairment (MCI) stage, offering broader coverage." He added, "Due to the increasing number of dementia patients and the growing dementia treatment market, the company is also expected to benefit."

This content was produced with the assistance of AI translation services.