ARTRYA LIMITED (AYA)
Share Price Analysis and Chart

12/02/2025

1

Buy

$2.20

182.05%

Initial Food and Drug Administration's (FDA) review of Artrya's 510(k) submission for its Salix Coronary Anatomy product has resulted in a request for additional information, Petra Capital notes.

This is minor and addressable but pushes out the approval by two months vs the broker's previous estimate of end-March.

The broker now sees increased likelihood of a positive outcome. Meanwhile, key catalysts ahead of FDA approval are two new Australian radiology groups expected to come on board imminently, the broker highlights.

The broker has updated its model to reflect the recent placement of $5m at $0.42/sh vs its estimate of $30m raise in 2H25 at $0.60/sh. The analyst continues to assume another $25m raise in 2H25, at a higher price of $0.72/sh.

Buy rating maintained but target price is marginally lower at $2.20 from $2.21.

FORECAST
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -14.70 cents.
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -2.50 cents.