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MPAL

Medpal Ai PLC

Health Care First-pass screen £16m
380/1000 Overall fit
AI beneficiary 35% 45
Operating leverage 25% 40
Valuation 25% 28
Downside protection 15% 38

First-pass take

Pre-revenue digital health startup (6mo post-IPO) dispensing 70k items/month post-YE. Material going-concern warning reflects pre-profitability, elevated working capital burn, and dilutive ATM raises. AI triage and Eli Lilly GLP-1 pipeline unproven; insufficient evidence of scaled unit economics.

Flags

pre-revenue-at-filingloss-makinggoing-concernearly-stagemicro-capequity-financedfounder-ledworking-capital-intensive