Redeye sees Q2 sales in line with our forecast but higher costs, prompting us to lower our 2024e EBIT assumptions. Our longer-term estimates are untouched. The share trades in pair with its peers and near our base case, but we point to our estimates taking a conservative approach to the Thermo Fischer deal/US sales – this might be reconsidered as more of this potentially case altering collaboration should materialise during H2 2024.