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Check-Cap: This Overlooked Medical Device Company Is Extremely Undervalued
Sep. 17, 2018 3:01 PM ET|23 comments| About: Check-Cap Ltd. (CHEK), Includes: EXAS
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DeepValuePlay
DeepValuePlay
Deep Value, long only, special situations, contrarian
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Summary
The market for polyp diagnosis and colon cancer prevention is huge.
CHEK's share price has the potential to reach $50 within 5 years (14x the current price).
Several positive and significant news went unnoticed by investors - including clinical results that displayed sensitivity of polyp detection increasing from 44% to 76%.
Overhang due to need to raise cash is no longer an issue after a large public offering in May 2018.
Thesis Summary
Check-Cap (NASDAQ:CHEK) is a clinical stage medical devices company engaged in the development of C-Scan. C-Scan is aimed at replacing colonoscopy for colon cancer screening. I believe the company to be extremely undervalued.
Check-Cap was founded in 2004 in Israel and was IPO-ed during 2015. It has since been trading at over $30/share but has recently slumped to just over $3/share with a mere market cap of $18.5M.
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