Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Equity Bottom-Up

<ul>
<li>ZaiLab's (ZLAB) share price rallied 15% on promising data from the Phase I trial of its DLL3 ADC licensed from Chinese startup MediLink. The data is positive but still early;</li>
<li>Besides being early, competitions in DLL3 ADC, B7H3 ADC and DLL3/CD3 BsAb are all fierce, with much bigger rivals at much advanced clinical stages. Thus ZLAB faces an execution challenge;</li>
<li>ZLAB's sourcing from domestic biotech is a major step forward that can fundamentally alter its business model. But to confirm the validity of this transition still needs more evidence.</li>
</ul>


ZaiLab's (ZLAB) share price rallied 15% on promising data from the Phase I trial of its DLL3 ADC licensed from Chinese startup MediLink. The data is positive but still early;
Besides being early, competitions in DLL3 ADC, B7H3 ADC and DLL3/CD3 BsAb are all fierce, with much bigger rivals at much advanced clinical stages. Thus ZLAB faces an execution challenge;
ZLAB's sourcing from domestic biotech is a major step forward that can fundamentally alter its business model. But to confirm the validity of this transition still needs more evidence.


ZaiLab's DLL3 ADC Is a Major Positive, but the Market Over-Reacted to Its Prospects

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul>
<li>BioNTech's second quarter of 2024 earnings revealed a company navigating both ongoing strides in its primary COVID-19 vaccine franchise and advancing its footprint in the oncology sector.</li>
<li>The call demonstrated BioNTech's commitment to expanding its product offerings while managing the shifts in market demands and regulatory landscapes.</li>
<li>For the second quarter of 2024, the total revenue reported by BioNTech was approximately EUR 129 million, a decline from EUR 168 million in the same quarter the previous year.</li>
</ul>


BioNTech's second quarter of 2024 earnings revealed a company navigating both ongoing strides in its primary COVID-19 vaccine franchise and advancing its footprint in the oncology sector.
The call demonstrated BioNTech's commitment to expanding its product offerings while managing the shifts in market demands and regulatory landscapes.
For the second quarter of 2024, the total revenue reported by BioNTech was approximately EUR 129 million, a decline from EUR 168 million in the same quarter the previous year.


BioNTech SE: Expansion of MRNA Technology Applications & Major Drivers

<ul>
<li>BioNTech's First Quarter 2024 Earnings Call highlighted a strategic focus on their late-stage oncology pipeline and continued initiatives surrounding their COVID-19 vaccine offerings.</li>
<li>The company's advancement in multiple pivotal Phase III clinical trials, primarily in oncology, and preparation for upcoming new strains of COVID-19 vaccines suggests a pivotal transformation period.</li>
<li>Positively, BioNTech's progression in oncology is notable with its comprehensive approach of integrating multiple therapeutic solutions.</li>
</ul>


BioNTech's First Quarter 2024 Earnings Call highlighted a strategic focus on their late-stage oncology pipeline and continued initiatives surrounding their COVID-19 vaccine offerings.
The company's advancement in multiple pivotal Phase III clinical trials, primarily in oncology, and preparation for upcoming new strains of COVID-19 vaccines suggests a pivotal transformation period.
Positively, BioNTech's progression in oncology is notable with its comprehensive approach of integrating multiple therapeutic solutions.


BioNTech SE: Expansion into Oncology and Cancer Therapies & Other Major Drivers

Global Healthcare Analyst

Tina Banerjee

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sk-bioscience-co-ltd" target="_blank" data-smartkarma-citation="entities:31484:1" rel="noopener">SK Bioscience (302440 KS)</a> secures 60% stake in IDT Biologika, a global CDMO company with state-of-the-art manufacturing facilities in Germany, for KRW339B ($244M). The valuation seems reasonable.</li>
<li>The transaction paves the way for SK bioscience to strengthen its global presence, notably in Europe and the U.S., and to diversify its business by expanding into bulk drug substances.</li>
<li>Based on the existing CDMO contracts, IDT Biologika’s outlook remains positive. SK bioscience aims to more than double its revenue and stabilize operating profit margins at 20%+.</li>
</ul>



SK Bioscience (302440 KS) secures 60% stake in IDT Biologika, a global CDMO company with state-of-the-art manufacturing facilities in Germany, for KRW339B ($244M). The valuation seems reasonable.
The transaction paves the way for SK bioscience to strengthen its global presence, notably in Europe and the U.S., and to diversify its business by expanding into bulk drug substances.
Based on the existing CDMO contracts, IDT Biologika’s outlook remains positive. SK bioscience aims to more than double its revenue and stabilize operating profit margins at 20%+.


SK Bioscience (302440 KS): Acquiring Majority Stake in IDT Biologika- A Step Toward ‘Globalization’

<ul>
<li>This is our first report on biotechnology major, BioNTech.</li>
<li>The company recently reported its fourth quarter and full-year 2023 earnings.</li>
<li>BioNTech successfully advanced its clinical pipelines and improved its technology platforms, digital capabilities, and infrastructure while executing its key strategic initiatives.</li>
</ul>


This is our first report on biotechnology major, BioNTech.
The company recently reported its fourth quarter and full-year 2023 earnings.
BioNTech successfully advanced its clinical pipelines and improved its technology platforms, digital capabilities, and infrastructure while executing its key strategic initiatives.


BioNTech SE: How Its Strengthened Pipeline & Portfolio Is Changing The Game!

Germany

BioNTech SE provides biotechnological solutions. The Company develops various types of treatments for cancer patients' tumors. BioNTech serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

BioNTech (BNTX US)

ZaiLab's DLL3 ADC Is a Major Positive, but the Market Over-Reacted to Its Prospects

ZaiLab surged 15% on positive Ph I data for its DLL3 ADC from MediLink, but faces tough competition and execution challenges. Transition to...

Blue Lotus Research Institute

BioNTech SE: Expansion of MRNA Technology Applications & Major Drivers

BioNTech's second quarter of 2024 earnings revealed a company navigating both ongoing strides in its primary COVID-19 vaccine franchise and...

Baptista Research

BioNTech SE: Expansion into Oncology and Cancer Therapies & Other Major Drivers

BioNTech's First Quarter 2024 Earnings Call highlighted a strategic focus on their late-stage oncology pipeline and continued initiatives...

Baptista Research

SK Bioscience (302440 KS): Acquiring Majority Stake in IDT Biologika- A Step Toward ‘Globalization’

SK Bioscience secures 60% stake in IDT Biologika, a global CDMO company with state-of-the-art manufacturing facilities in Germany, for KRW339B...

Tina Banerjee

BioNTech SE: How Its Strengthened Pipeline & Portfolio Is Changing The Game!

This is our first report on biotechnology major, BioNTech. The company recently reported its fourth quarter and full-year 2023 earnings. BioNTech...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ZaiLab's DLL3 ADC Is a Major Positive, but the Market Over-Reacted to Its Prospects

​ZaiLab surged 15% on positive Ph I data for its DLL3 ADC from MediLink, but faces tough competition and execution challenges. Transition to...

Blue Lotus Research Institute

BioNTech SE: Expansion of MRNA Technology Applications & Major Drivers

BioNTech's second quarter of 2024 earnings revealed a company navigating both ongoing strides in its primary COVID-19 vaccine franchise and...

Baptista Research

BioNTech SE: Expansion into Oncology and Cancer Therapies & Other Major Drivers

BioNTech's First Quarter 2024 Earnings Call highlighted a strategic focus on their late-stage oncology pipeline and continued initiatives...

Baptista Research

SK Bioscience (302440 KS): Acquiring Majority Stake in IDT Biologika- A Step Toward ‘Globalization’

SK Bioscience secures 60% stake in IDT Biologika, a global CDMO company with state-of-the-art manufacturing facilities in Germany, for KRW339B...

Tina Banerjee

BioNTech SE: How Its Strengthened Pipeline & Portfolio Is Changing The Game!

This is our first report on biotechnology major, BioNTech. The company recently reported its fourth quarter and full-year 2023 earnings. BioNTech...

Baptista Research

ZaiLab surged 15% on positive Ph I data for its DLL3 ADC from MediLink, but faces tough competition and execution challenges. Transition to...