Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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

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<p><a href="https://www.smartkarma.com/entities/japan-airlines-co-ltd" target="_blank" data-smartkarma-citation="entities:1184:1" rel="noopener">Japan Airlines (9201 JP)</a> plans to raise around US$1.4bn in order to shore up its balance sheet and aid its longer term transformation.</p>
<p> I have covered the background of the deal in my earlier write-up, <a href="https://www.smartkarma.com/insights/japan-airlines-placement-given-the-uncertain-outlook-might-need-further-correction" target="_blank" rel="noopener">Japan Airlines Placement - Given the Uncertain Outlook, Might Need Further Correction</a>.</p>
</div><div><div id="annotable-executive_summary-2">In this insight, I'll talk about the updates since then.</div></div>


Japan Airlines (9201 JP) plans to raise around US$1.4bn in order to shore up its balance sheet and aid its longer term transformation.
 I have covered the background of the deal in my earlier write-up, Japan Airlines Placement - Given the Uncertain Outlook, Might Need Further Correction.
In this insight, I'll talk about the updates since then.

Japan Airlines Placement - Tricky Tricky, Needs to Correct

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

Equity Bottom-Up

<p>Moderna may announce its first interim results of the late-stage trial of its COVID-19 vaccine mRNA-1273 as soon as this month. Pfizer and BioNTech confirmed its mRNA-based vaccine candidate against SARS-CoV-2 has already achieved success in first interim analysis from Phase 3 study. With 90%+ efficacy and study enrolled 43,538 participants Pfizer and BioNTech believe that a vaccine may effectively prevent COVID-19. BioNTech used mRNA-based approach and its vaccine candidate BNT162b2 consists of messenger RNA, that provides instructions for human cell to make immunogen, which activates the body’s immune response.</p><p style="text-align: justify;">Therefore, we see that unproven mRNA approach shows first promising results and this platform technology may also target solid tumors and many forms of cancer. Looks like leading mRNA-based vaccine producers (Moderna, Pfizer/BioNTech, CureVac) are going to win the race leaving behind adenovirus-based COVID-19 vaccine producers (J&amp;J, AstraZeneca, CanSino Biologics). Shares of BioNTech rose 19% in November while shares of Moderna and CureVac jumped 30% and 43% respectively this month. We believe that positive data from Moderna’s late stage study may drive stocks of mRNA-based vaccine producers to new highs.   </p>

Moderna may announce its first interim results of the late-stage trial of its COVID-19 vaccine mRNA-1273 as soon as this month. Pfizer and BioNTech confirmed its mRNA-based vaccine candidate against SARS-CoV-2 has already achieved success in first interim analysis from Phase 3 study. With 90%+ efficacy and study enrolled 43,538 participants Pfizer and BioNTech believe that a vaccine may effectively prevent COVID-19. BioNTech used mRNA-based approach and its vaccine candidate BNT162b2 consists of messenger RNA, that provides instructions for human cell to make immunogen, which activates the body’s immune response.Therefore, we see that unproven mRNA approach shows first promising results and this platform technology may also target solid tumors and many forms of cancer. Looks like leading mRNA-based vaccine producers (Moderna, Pfizer/BioNTech, CureVac) are going to win the race leaving behind adenovirus-based COVID-19 vaccine producers (J&amp;J, AstraZeneca, CanSino Biologics). Shares of BioNTech rose 19% in November while shares of Moderna and CureVac jumped 30% and 43% respectively this month. We believe that positive data from Moderna’s late stage study may drive stocks of mRNA-based vaccine producers to new highs.   

Success of Moderna’s COVID-19 Vaccine May Give a Boost to Stocks of Messenger RNA Companies

<p style="text-align: justify;">CureVac shares have been under selling pressure and fell ~20% in September. For the same period shares of key rivals Moderna and BioNTech rose 7% and ~9% respectively. Moderna and Johnson &amp; Johnson began Phase 3 clinical trials of COVID-19 vaccine candidates this month. The global race for coronavirus vaccine is entering the final stage and leaders are Moderna, Pfizer/BioNTech, AstraZeneca and Johnson &amp; Johnson. All these companies have already initiated larger scale clinical trials (phase 3) for a COVID-19 vaccine. However, management of CureVac is confident larger phase 2/3 study will be launched till the end of the year. </p><p style="text-align: justify;">In our insight we will focus on approaches, used by biotech companies to develop coronavirus vaccines, and find out how CureVac positions itself as one of the leaders with the fast and disruptive mRNA technology.</p>

CureVac shares have been under selling pressure and fell ~20% in September. For the same period shares of key rivals Moderna and BioNTech rose 7% and ~9% respectively. Moderna and Johnson &amp; Johnson began Phase 3 clinical trials of COVID-19 vaccine candidates this month. The global race for coronavirus vaccine is entering the final stage and leaders are Moderna, Pfizer/BioNTech, AstraZeneca and Johnson &amp; Johnson. All these companies have already initiated larger scale clinical trials (phase 3) for a COVID-19 vaccine. However, management of CureVac is confident larger phase 2/3 study will be launched till the end of the year. In our insight we will focus on approaches, used by biotech companies to develop coronavirus vaccines, and find out how CureVac positions itself as one of the leaders with the fast and disruptive mRNA technology.

Expecting First Results From Phase 1 Clinical Trials Of COVID-19 Vaccine In October

Germany

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

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BioNTech (BNTX US)

Japan Airlines Placement - Tricky Tricky, Needs to Correct

Japan Airlines (9201 JP) plans to raise around US$1.4bn in order to shore up its balance sheet and aid its longer term transformation.

Sumeet Singh

Success of Moderna’s COVID-19 Vaccine May Give a Boost to Stocks of Messenger RNA Companies

mRNA-based COVID-19 vaccine producers made a big step forward to defeat coronavirus and prevent future pandemics around the world

Andrei Zakharov

Expecting First Results From Phase 1 Clinical Trials Of COVID-19 Vaccine In October

CureVac shares have been under selling pressure and fell ~20% in September. For the same period shares of key rivals Moderna and BioNTech rose 7%...

Andrei Zakharov

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