Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Suzhou Ribo Life Science / Equity Capital Markets

<ul>
<li>Suzhou Ribo Life is looking to raise at least US$100 million via a Hong Kong listing. CICC and Citi are the deal sponsors.</li>
<li>While our previous note provides a brief background overview of the company, we look at the updates and competition in this note.</li>
<li>We become more conservative when looking at its competitive landscape.</li>
</ul>


Suzhou Ribo Life is looking to raise at least US$100 million via a Hong Kong listing. CICC and Citi are the deal sponsors.
While our previous note provides a brief background overview of the company, we look at the updates and competition in this note.
We become more conservative when looking at its competitive landscape.


Suzhou Ribo Life Science (瑞博生物) Pre-IPO: Competition Understated

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Circle Internet Group / Technical Analysis

<ul>
<li>We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.</li>
<li>For now, we continue to expect support to show up at the 4-month uptrend, which generally coincides with the 20-day MA.</li>
<li>Speculative growth themes (quantum,nuclear, hydrogen, space, robotics, drones, data centers, solar, biotech, WGMI,ARKK,ARKQ,ARKX,ARKW,ARKG, etc.) have been rolling, and we've been recommending them in this section every week for 1+ months.</li>
</ul>


We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.
For now, we continue to expect support to show up at the 4-month uptrend, which generally coincides with the 20-day MA.
Speculative growth themes (quantum,nuclear, hydrogen, space, robotics, drones, data centers, solar, biotech, WGMI,ARKK,ARKQ,ARKX,ARKW,ARKG, etc.) have been rolling, and we've been recommending them in this section every week for 1+ months.


Downgrading Financials to Underweight; Growth Themes Galore; Health Care Breaking Out

US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>The acquisition of <a href="https://www.smartkarma.com/entities/ansys-inc" target="_blank" data-smartkarma-citation="entities:15473:1" rel="noopener">Ansys Inc (ANSS US)</a> by <a href="https://www.smartkarma.com/entities/synopsys-inc" target="_blank" data-smartkarma-citation="entities:3493:1" rel="noopener">Synopsys Inc (SNPS US)</a> has been completed today, 17 July and Ansys is expected to be deleted from Nasdaq100.</li>
<li>
<a href="https://www.smartkarma.com/entities/coreweave-inc" target="_blank" data-smartkarma-citation="entities:44471:1" rel="noopener">CoreWeave (CRWV US)</a> is forecasted to be added to Nasdaq100 as the replacement because it is the highest ranked eligible non-constituent following its recent listing on 28 March 2025.</li>
<li>Top addition candidate for the December 2025 annual review is now <a href="https://www.smartkarma.com/entities/kimberly-clark-corp" target="_blank" data-smartkarma-citation="entities:2292:1" rel="noopener">Kimberly Clark (KMB US)</a> following its listing transfer from NYSE to Nasdaq on 30 May 2025.</li>
</ul>


The acquisition of Ansys Inc (ANSS US) by Synopsys Inc (SNPS US) has been completed today, 17 July and Ansys is expected to be deleted from Nasdaq100.

CoreWeave (CRWV US) is forecasted to be added to Nasdaq100 as the replacement because it is the highest ranked eligible non-constituent following its recent listing on 28 March 2025.
Top addition candidate for the December 2025 annual review is now Kimberly Clark (KMB US) following its listing transfer from NYSE to Nasdaq on 30 May 2025.


CoreWeave (CRWV US): Forecasted Addition to Nasdaq100 Replacing Ansys Post-Acquisition

<ul>
<li>Suzhou Ribo Life is looking to raise at least US$100 million via a Hong Kong listing. CICC and Citi are the deal sponsors.</li>
<li>Ribo Life is a world leading company in the area of siRNA research.</li>
<li>The company's RBD4059 is potentially the first in class siRNA drug for thrombotic diseases.</li>
</ul>


Suzhou Ribo Life is looking to raise at least US$100 million via a Hong Kong listing. CICC and Citi are the deal sponsors.
Ribo Life is a world leading company in the area of siRNA research.
The company's RBD4059 is potentially the first in class siRNA drug for thrombotic diseases.


Suzhou Ribo Life Science (瑞博生物) Pre-IPO Quick View: Scarcity of SiRNA Player

Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>EMA’s human medicines committee (CHMP) recommended sixteen medicines for approval at its April 2025 meeting. CHMP also adopted positive opinion for nine biosimilar medicines.</li>
<li>Among the new medicines, Vertex’s triple combination cystic fibrosis drug Alyftrek, Amgen’s Thyroid eye disease drug Tepezza, and Jazz Pharmaceutical’s billiary tract cancer drug Ziihera have potential to become blockbusters.</li>
<li>The Agency has recommended the refusal of the marketing authorization for Eli Lilly’s Alzheimer’s Disease drug Kisunla. Eli Lilly may ask for a re-examination of the opinion within 15 days.</li>
</ul>


EMA’s human medicines committee (CHMP) recommended sixteen medicines for approval at its April 2025 meeting. CHMP also adopted positive opinion for nine biosimilar medicines.
Among the new medicines, Vertex’s triple combination cystic fibrosis drug Alyftrek, Amgen’s Thyroid eye disease drug Tepezza, and Jazz Pharmaceutical’s billiary tract cancer drug Ziihera have potential to become blockbusters.
The Agency has recommended the refusal of the marketing authorization for Eli Lilly’s Alzheimer’s Disease drug Kisunla. Eli Lilly may ask for a re-examination of the opinion within 15 days.


CHMP Meeting Update April 2025: Sixteen New Medicines Recommended For Approval

United States

Alnylam Pharmaceuticals Inc. is an early-stage therapeutics company. The Company is developing technology that can specifically and potently silence disease-causing genes.

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Alnylam Pharmaceuticals (ALNY US)

Suzhou Ribo Life Science (瑞博生物) Pre-IPO: Competition Understated

Suzhou Ribo Life seeks to raise $100 million through Hong Kong listing with CICC and Citi as deal sponsors. We note understate of the competitive...

Ke Yan, CFA, FRM

Downgrading Financials to Underweight; Growth Themes Galore; Health Care Breaking Out

Downgrading Financials $XLF to Underweight; Growth Themes Galore: quantum, nuclear, hydrogen, space, robotics, drones, data centers, solar,...

Vermilion Research

CoreWeave (CRWV US): Forecasted Addition to Nasdaq100 Replacing Ansys Post-Acquisition

Thomson Reuters (TRI) will replace ANSS instead. Reuters was considered to be in the category of financial data providers - alongside FactSet and...

Dimitris Ioannidis

Suzhou Ribo Life Science (瑞博生物) Pre-IPO Quick View: Scarcity of SiRNA Player

Suzhou Ribo Life plans to raise $100 million through a Hong Kong listing, with CICC and Citi as deal sponsors. They are a leading company in siRNA...

Ke Yan, CFA, FRM

CHMP Meeting Update April 2025: Sixteen New Medicines Recommended For Approval

Among the new medicines, Vertex’s triple combination CF drug Alyftrek, Amgen’s Thyroid eye disease drug Tepezza, and Jazz Pharmaceutical’s cancer...

Tina Banerjee

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52-week Range

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Suzhou Ribo Life Science (瑞博生物) Pre-IPO: Competition Understated

​Suzhou Ribo Life seeks to raise $100 million through Hong Kong listing with CICC and Citi as deal sponsors. We note understate of the competitive...

Ke Yan, CFA, FRM

Downgrading Financials to Underweight; Growth Themes Galore; Health Care Breaking Out

Downgrading Financials $XLF to Underweight; Growth Themes Galore: quantum, nuclear, hydrogen, space, robotics, drones, data centers, solar,...

Vermilion Research

CoreWeave (CRWV US): Forecasted Addition to Nasdaq100 Replacing Ansys Post-Acquisition

Thomson Reuters (TRI) will replace ANSS instead. Reuters was considered to be in the category of financial data providers - alongside FactSet and...

Dimitris Ioannidis

Suzhou Ribo Life Science (瑞博生物) Pre-IPO Quick View: Scarcity of SiRNA Player

​Suzhou Ribo Life plans to raise $100 million through a Hong Kong listing, with CICC and Citi as deal sponsors. They are a leading company in siRNA...

Ke Yan, CFA, FRM

CHMP Meeting Update April 2025: Sixteen New Medicines Recommended For Approval

Among the new medicines, Vertex’s triple combination CF drug Alyftrek, Amgen’s Thyroid eye disease drug Tepezza, and Jazz Pharmaceutical’s cancer...

Tina Banerjee

Suzhou Ribo Life seeks to raise $100 million through Hong Kong listing with CICC and Citi as deal sponsors. We note understate of the competitive...

Suzhou Ribo Life plans to raise $100 million through a Hong Kong listing, with CICC and Citi as deal sponsors. They are a leading company in siRNA...