HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

<ul>
<li>If you look up history, Laekna has certain connection with Novartis. However, Novartis seems to have not made much progress in small-molecule targeted oncology therapies in the past few years.</li>
<li>LAE001 would face fierce competition. Its new mechanism may not be accepted by doctors/patients in front of many mature drug options in the market. LAE002 has high R&amp;D failure risk.</li>
<li>Since the stock price performance of a number of innovative drug companies based on license-in model in HKEX is unsatisfactory, together with the weak sentiment, we remain conservative about Laekna. </li>
</ul>


If you look up history, Laekna has certain connection with Novartis. However, Novartis seems to have not made much progress in small-molecule targeted oncology therapies in the past few years.
LAE001 would face fierce competition. Its new mechanism may not be accepted by doctors/patients in front of many mature drug options in the market. LAE002 has high R&amp;D failure risk.
Since the stock price performance of a number of innovative drug companies based on license-in model in HKEX is unsatisfactory, together with the weak sentiment, we remain conservative about Laekna. 


Pre-IPO Laekna (PHIP Updates) - Some Key Points Worth the Attention

<ul>
<li>Laekna’s development mode is mainly based on license-in. However, the increasingly low cost performance of in-licensed products and potential legal risks have made the capital “reconsider”. </li>
<li>Both two core products LAE002 and LAE001 have to face the challenge of market acceptance and potential R&amp;D failure risks. China’s NRDL negotiation further casts doubts on their commercialization prospects.</li>
<li>So, the investment in Laekna may not generate expected return. Together with the unfriendly external environment, we are conservative about <a href="https://www.smartkarma.com/entities/laekna-inc" target="_blank" data-smartkarma-citation="entities:36029:1" rel="noopener">Laekna (LAEKNA HK)</a>’s outlook at the current stage.</li>
</ul>


Laekna’s development mode is mainly based on license-in. However, the increasingly low cost performance of in-licensed products and potential legal risks have made the capital “reconsider”. 
Both two core products LAE002 and LAE001 have to face the challenge of market acceptance and potential R&amp;D failure risks. China’s NRDL negotiation further casts doubts on their commercialization prospects.
So, the investment in Laekna may not generate expected return. Together with the unfriendly external environment, we are conservative about Laekna (LAEKNA HK)’s outlook at the current stage.


Pre-IPO Laekna - Low Cost Performance of License-In Mode Leads to A "Rethink" Of Investment Value

Hong Kong

Laekna, Inc. operates as a clinical-stage biotechnology company. The Company researches and develops adenosine triphosphate (ATP) competitive protein kinase B (AKT) inhibitor and androgen synthesis inhibitor. Laekna applies its products for the treatment of ovarian cancer, prostate cancer, breast cancer, and prostate cancer.

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Laekna (2105 HK)

Pre-IPO Laekna (PHIP Updates) - Some Key Points Worth the Attention

Laekna's core products would face different challenges, which makes us hard to be optimistic about their prospects.As a biotech based on license-in...

Xinyao (Criss) Wang

Pre-IPO Laekna - Low Cost Performance of License-In Mode Leads to A "Rethink" Of Investment Value

Laekna is mainly based on license-in mode,whose increasingly low cost performance and potential legal risks have made the capital “reconsider”.The...

Xinyao (Criss) Wang

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