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

Amid rising Middle East tensions, investors have moved to safe-havens including Treasuries and gold, all while having a muted effect on the US equity market. At this point in time, the rising tensions have done virtually no damage to the bullish trends and indicators that continue to dominate the market. In today’s report we highlight attractive Groups and stocks within Manufacturing, Services, Technology, and Transportation: Aero Defense, Large-Cap, HR &amp; Employment Svcs, Large-Cap, Optical Equipment, and Shipping, Energy

Amid rising Middle East tensions, investors have moved to safe-havens including Treasuries and gold, all while having a muted effect on the US equity market. At this point in time, the rising tensions have done virtually no damage to the bullish trends and indicators that continue to dominate the market. In today’s report we highlight attractive Groups and stocks within Manufacturing, Services, Technology, and Transportation: Aero Defense, Large-Cap, HR &amp; Employment Svcs, Large-Cap, Optical Equipment, and Shipping, Energy

U.S. Equity Strategy: Bullish Outlook Intact

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Equity Capital Markets

Kolon TissueGene  / Equity Capital Markets

It is time to decide on <a href="https://www.smartkarma.com/entities/25907" target="_blank" data-smartkarma-citation="entities:25907:1">TissueGene Inc. (950160 KS)</a> IPO. Its bookbuilding is actually taking place today and tomorrow. I know this is a very difficult IPO stock. Opinions are extremely divided. Well, this is no surprise. This is a company that starts pumping real cash only after 2023. Even, this is only if they get US approval for phase III clinical trial, which is only 50% success rate. Alright, I already talked much about this in my previous two insights. So, if you aren't still familiar with these basic stuffs about TissueGene, I invite you to read the following two insights about this IPO.<a href="https://www.smartkarma.com/insights/tissuegene-ipo-part-1-ipo-prospectus-summary" target="_blank" data-smartkarma-citation="insights:13775">TissueGene IPO Part 1 - IPO Prospectus Summary</a><a href="https://www.smartkarma.com/insights/tissuegene-ipo-part-2-facts-about-cartilage-regeneration-us-clinical-trial" target="_blank" data-smartkarma-citation="insights:14051">TissueGene IPO Part 2 - Facts About Cartilage Regeneration &amp; US Clinical Trial</a><table class="table table-striped"><tbody><tr><td colspan="2" style="width: 270.1005554199219px;"><a href="https://www.smartkarma.com/entities/25907" target="_blank" data-smartkarma-citation="entities:25907:1">TissueGene Inc. (950160 KS)</a> IPO summary</td></tr><tr><td style="width: 270.1005554199219px;">Company name</td><td style="width: 458.8994445800781px;"><a href="https://www.smartkarma.com/entities/25907" target="_blank" data-smartkarma-citation="entities:25907:1">TissueGene Inc. (950160 KS)</a></td></tr><tr><td style="width: 270.1005554199219px;">CEO</td><td style="width: 458.8994445800781px;">Lee Woo-sok and Dr. Lee Bum-sup</td></tr><tr><td style="width: 270.1005554199219px;">HQ address</td><td style="width: 458.8994445800781px;">9605 Medical Center Drive, Suite 200, Rockville, MD 20850, United States</td></tr><tr><td style="width: 270.1005554199219px;">Corporate homepage</td><td style="width: 458.8994445800781px;"><a href="http://www.tissuegene.com/" target="_blank">www.tissuegene.com</a></td></tr><tr><td style="width: 270.1005554199219px;">Industry / specialty</td><td style="width: 458.8994445800781px;">It is a clinical-stage bio-pharmaceutical company focused on developing novel regenerative therapies in the field of cell therapy.</td></tr><tr><td style="width: 270.1005554199219px;">Total number of share offerings</td><td style="width: 458.8994445800781px;">7,500,000 DRs (depositary receipt) since the company is headquartered in the US.(100% new rights offering)</td></tr><tr><td style="width: 270.1005554199219px;">Indicative price band</td><td style="width: 458.8994445800781px;">₩16,000 - ₩27,000</td></tr><tr><td style="width: 270.1005554199219px;">Total amount to be raised (at ₩16,000)</td><td style="width: 458.8994445800781px;">₩120,000,000,000</td></tr><tr><td style="width: 270.1005554199219px;">Target valuation (at ₩16,000)</td><td style="width: 458.8994445800781px;">₩1.01tril (US$894mil)</td></tr><tr><td style="width: 270.1005554199219px;">Lead manager</td><td style="width: 458.8994445800781px;"><a href="https://www.smartkarma.com/entities/18790" target="_blank" data-smartkarma-citation="entities:18790:1">NH Investment &amp; Securities Co Ltd (005940 KS)</a></td></tr><tr><td style="width: 270.1005554199219px;">Co managers</td><td style="width: 458.8994445800781px;">KISHana Financial &amp; Investment Securities<a href="https://www.smartkarma.com/entities/10558" target="_blank" data-smartkarma-citation="entities:10558:1">Hanwha Securities Co Ltd (003530 KS)</a><a href="https://www.smartkarma.com/entities/18895" target="_blank" data-smartkarma-citation="entities:18895:1">Ebest Investment &amp; Securitie (078020 KS)</a></td></tr><tr><td style="width: 270.1005554199219px;">Bourse</td><td style="width: 458.8994445800781px;">KOSDAQ</td></tr><tr><td colspan="2" style="width: 729px;">Source: DART</td></tr></tbody></table>

It is time to decide on TissueGene Inc. (950160 KS) IPO. Its bookbuilding is actually taking place today and tomorrow. I know this is a very difficult IPO stock. Opinions are extremely divided. Well, this is no surprise. This is a company that starts pumping real cash only after 2023. Even, this is only if they get US approval for phase III clinical trial, which is only 50% success rate. Alright, I already talked much about this in my previous two insights. So, if you aren't still familiar with these basic stuffs about TissueGene, I invite you to read the following two insights about this IPO.TissueGene IPO Part 1 - IPO Prospectus SummaryTissueGene IPO Part 2 - Facts About Cartilage Regeneration &amp; US Clinical TrialTissueGene Inc. (950160 KS) IPO summaryCompany nameTissueGene Inc. (950160 KS)CEOLee Woo-sok and Dr. Lee Bum-supHQ address9605 Medical Center Drive, Suite 200, Rockville, MD 20850, United StatesCorporate homepagewww.tissuegene.comIndustry / specialtyIt is a clinical-stage bio-pharmaceutical company focused on developing novel regenerative therapies in the field of cell therapy.Total number of share offerings7,500,000 DRs (depositary receipt) since the company is headquartered in the US.(100% new rights offering)Indicative price band₩16,000 - ₩27,000Total amount to be raised (at ₩16,000)₩120,000,000,000Target valuation (at ₩16,000)₩1.01tril (US$894mil)Lead managerNH Investment &amp; Securities Co Ltd (005940 KS)Co managersKISHana Financial &amp; Investment SecuritiesHanwha Securities Co Ltd (003530 KS)Ebest Investment &amp; Securitie (078020 KS)BourseKOSDAQSource: DART

TissueGene IPO Part 3 - More Fact Gathering from Yesterday's Press Meeting

United States

Flexion Therapeutics, Inc. discovers and develops therapeutics for musculoskeletal disorders. The Company offers pharmaceuticals and developed delivery systems for the treatment of refractory end-stage pain. Flexion Therapeutics operates in the United States.

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Flexion Therapeutics (FLXN US)

U.S. Equity Strategy: Bullish Outlook Intact

Amid rising Middle East tensions, investors have moved to safe-havens including Treasuries and gold, all while having a muted effect on the US...

Vermilion Research

TissueGene IPO Part 3 - More Fact Gathering from Yesterday's Press Meeting

It is time to decide on TissueGene Inc. (950160 KS) IPO. Its bookbuilding is actually taking place today and tomorrow. I know this is a very...

Sanghyun Park

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