Redeye provides an update in relation to RLS’ Q1 2023 report. The report did not include any major surprises in our view, with low sales and OPEX similar to previous quarters; however, we got mixed feelings from the CEO message regarding the launch of ChloraSolv. In relation to the report, we have chosen to only make some minor changes in our sales estimates for 2023e and adjust our capital-raising assumptions. The changes results in an updated fair value range.

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