Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Thematic (Sector/Industry)

<ul><li>Vaccine stocks (NVAX, BNTX, PFE, MRNA, PCVX) had a good week, as the FDA provided new regulatory policy for COVID-19 vaccines.</li><li>While more restrictive and unconventionally delivered in a NEJM op-ed, the publication reduced uncertainty for vaccine makers and gave full support for the measles vaccine by FDA heads.</li><li>Biopharma shrugged off MFN pricing targets, as implementation remained unclear. </li></ul>

Vaccine stocks (NVAX, BNTX, PFE, MRNA, PCVX) had a good week, as the FDA provided new regulatory policy for COVID-19 vaccines.While more restrictive and unconventionally delivered in a NEJM op-ed, the publication reduced uncertainty for vaccine makers and gave full support for the measles vaccine by FDA heads.Biopharma shrugged off MFN pricing targets, as implementation remained unclear. 

Biopharma Week in Review - FDA Provides Some Certainty for Vaccines; ASCO Abstracts Snippets

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Innovent: ASCO data reinforce IBI363’s potential as a potential nextgeneration IO.</li><li>We view IBI363 as a highly promising candidate in the IOresistant sq-NSCLC space, supported by an impressive mPFS of 7.3 months in monotherapy, which is very competitive compared to other innovative agents. Innovent plans to initiate a Ph3 trial of IBI363 in IOresistant sq-NSCLC in 2H25. In 3L+ CRC, IBI363 has shown superior early efficacy signals and a more favorable safety profile.</li><li>IBI363 mono delivered an ORR of 12.7% and an mOS of 16.1 months—both significantly outperforming fruquintinib. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Innovent: ASCO data reinforce IBI363’s potential as a potential nextgeneration IO.We view IBI363 as a highly promising candidate in the IOresistant sq-NSCLC space, supported by an impressive mPFS of 7.3 months in monotherapy, which is very competitive compared to other innovative agents. Innovent plans to initiate a Ph3 trial of IBI363 in IOresistant sq-NSCLC in 2H25. In 3L+ CRC, IBI363 has shown superior early efficacy signals and a more favorable safety profile.IBI363 mono delivered an ORR of 12.7% and an mOS of 16.1 months—both significantly outperforming fruquintinib. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Healthcare - ASCO Highlights: Spotlight on Next-Gen IO & ADCs

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)

Biopharma Week in Review - FDA Provides Some Certainty for Vaccines; ASCO Abstracts Snippets

Vaccine stocks (NVAX, BNTX, PFE, MRNA, PCVX) had a good week, as the FDA provided new regulatory policy for COVID-19 vaccines.

Krungthai XSpring

Healthcare - ASCO Highlights: Spotlight on Next-Gen IO & ADCs

Innovent: ASCO data reinforce IBI363’s potential as a potential nextgeneration IO. We view IBI363 as a highly promising candidate in the...

CMB International

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