HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

As a well-known clinical-stage biopharmaceutical company in China, <a href="https://www.smartkarma.com/entities/i-mab" target="_blank" data-smartkarma-citation="entities:28384:1" rel="noopener">I-Mab (IMAB US)</a> has been developing rapidly in recent years. Meanwhile, its share price skyrocketed from the issue price of $14/share in the beginning of 2020 to $46.62/share on March 26, 2021, up about 233% in more than a year and with the market value of $3.35 billion. The reason why I-MAB is worth investors' attention in 2021 is that the Company has come to a key phase from R&amp;D to commercialization. The following mainly included insights on its core products TJC4, TJ202 and TJ101.

As a well-known clinical-stage biopharmaceutical company in China, I-Mab (IMAB US) has been developing rapidly in recent years. Meanwhile, its share price skyrocketed from the issue price of $14/share in the beginning of 2020 to $46.62/share on March 26, 2021, up about 233% in more than a year and with the market value of $3.35 billion. The reason why I-MAB is worth investors' attention in 2021 is that the Company has come to a key phase from R&amp;D to commercialization. The following mainly included insights on its core products TJC4, TJ202 and TJ101.

I-Mab (IMAB US) - Insights On Core Products TJC4, TJ202 and TJ101

Innovent Biologics Inc / Equity Bottom-Up

In recent years, <a href="https://www.smartkarma.com/entities/innovent-biologics-inc" target="_blank" data-smartkarma-citation="entities:27452:1" rel="noopener">Innovent Biologics Inc (1801 HK)</a> has launched a number of successful products, and the Company's investment value has significantly increased. Innovent leads the domestic counterparts in the layout of biological drugs and adhere to the development of internationally competitive products. The Company also establishes an excellent team to ensure the efficient implementation of the strategy. Meanwhile, Innovent is gradually transforming from a biotech company to a big pharma. With dozens of products in the pipeline, the Company is focusing on mainstream areas and is in the first echelon of clinical progress. In addition, with the rapid increase of sales after the listing of PD-1, its commercialization capability has also been recognized by the market.

In recent years, Innovent Biologics Inc (1801 HK) has launched a number of successful products, and the Company's investment value has significantly increased. Innovent leads the domestic counterparts in the layout of biological drugs and adhere to the development of internationally competitive products. The Company also establishes an excellent team to ensure the efficient implementation of the strategy. Meanwhile, Innovent is gradually transforming from a biotech company to a big pharma. With dozens of products in the pipeline, the Company is focusing on mainstream areas and is in the first echelon of clinical progress. In addition, with the rapid increase of sales after the listing of PD-1, its commercialization capability has also been recognized by the market. 

Innovent Biologics (1801 HK) - Have the Genes to Become a Big Pharma

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

TSE Tokyo Price Index TOPIX / Technical Analysis

In this report we highlight attractive and actionable themes within developed int’l markets: Technology and Industrials continue to be two of the most attractive Sectors globally -- overweight. These two Sectors account for half of today’s individual recommendations Countries that are (1) developing positively in terms of price and RS and (2) have significant representation in this report include: Japan (TOPIX), Switzerland (SMI), and France (CAC 40).Outside of the above themes, a bottoms-up approach is required to uncover attractive and actionable stocks. On page 4 we include a table of all stocks highlighted in this report.

In this report we highlight attractive and actionable themes within developed int’l markets: Technology and Industrials continue to be two of the most attractive Sectors globally -- overweight. These two Sectors account for half of today’s individual recommendations Countries that are (1) developing positively in terms of price and RS and (2) have significant representation in this report include: Japan (TOPIX), Switzerland (SMI), and France (CAC 40).Outside of the above themes, a bottoms-up approach is required to uncover attractive and actionable stocks. On page 4 we include a table of all stocks highlighted in this report. 

Overweight Global Technology & Industrials

In last week’s Compass (5/14) we laid our case for a more cautious outlook as a result of several negative developments, including breakdowns for EM (EEM) and China (MCHI, FXI), steep price and RS uptrend violations for Technology (XLK, RYT), improving RS for defensive areas of the market, and weakness in copper. Our outlook remains neutral. In today’s report we highlight attractive Groups and stocks within Consumer Staples and Utilities.

In last week’s Compass (5/14) we laid our case for a more cautious outlook as a result of several negative developments, including breakdowns for EM (EEM) and China (MCHI, FXI), steep price and RS uptrend violations for Technology (XLK, RYT), improving RS for defensive areas of the market, and weakness in copper. Our outlook remains neutral. In today’s report we highlight attractive Groups and stocks within Consumer Staples and Utilities.

U.S. Equity Strategy: Neutral Outlook; Opportunities Within Staples and Utilities

United States

Forty Seven, Inc. operates as a clinical-stage immuno-oncology company. The Company develops novel checkpoint therapies to activate macrophages targeting cancer immune evasion pathways. Forty Seven serves customers in the State of California.

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Forty Seven Inc (FTSV US)

I-Mab (IMAB US) - Insights On Core Products TJC4, TJ202 and TJ101

As I-MAB has come to a key phase from R&D to commercialization, this article analyzed both the strength and the concerns for its core products...

Xinyao (Criss) Wang

Innovent Biologics (1801 HK) - Have the Genes to Become a Big Pharma

This article mainly analyzed Innovent in terms of its current listed products (Sintilimab, Bevacizumab, Adalimumab and Rituximab), its pipeline,...

Xinyao (Criss) Wang

Overweight Global Technology & Industrials

In this report we highlight attractive and actionable themes within developed int’l markets: Technology and Industrials continue to be two of the...

Vermilion Research

U.S. Equity Strategy: Neutral Outlook; Opportunities Within Staples and Utilities

In last week’s Compass (5/14) we laid our case for a more cautious outlook as a result of several negative developments, including breakdowns for...

Vermilion Research

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