Updated Beer & Co. Report, page-6

PuriflOH's instrument sterilisation plan has "the potential to have a value of much greater than $1B," Beer & Co says.

This would "more than double our valuation (of $20 a share)".

The firm says it's "hopeful the FRG technology will compete effectively against both autoclaves and other technologies that treat instruments not able to cope with the heat and pressure."

But, despite flagging a doubling of valuation to $40 a share, Beer steps back from formally announcing a valuation upgrade.

"Beer & Co will not include any of this potential in our valuation as it is too speculative at this time given that is presently only a concept and Somnio Global has not developed a prototype at this stage", it says, adding:

"Beer & Co affirms our Speculative Strong BUY recommendation."