US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>Biotechnology company developing next-generation injectable and oral nutrient stimulated hormone, or NuSH, analog peptides to treat obesity, overweight and related conditions filed for Q1 IPO</li>
<li>Preliminary Phase 2 results in January suggested a durable pharmacodynamic, or PD, effect consistent with the observed half-life.</li>
<li>ARCH Ventures along with Fidelity are among the existing shareholders as this company enters begins its road to be a publicly traded company</li>
</ul>


Biotechnology company developing next-generation injectable and oral nutrient stimulated hormone, or NuSH, analog peptides to treat obesity, overweight and related conditions filed for Q1 IPO
Preliminary Phase 2 results in January suggested a durable pharmacodynamic, or PD, effect consistent with the observed half-life.
ARCH Ventures along with Fidelity are among the existing shareholders as this company enters begins its road to be a publicly traded company


Metsera, Inc. (MTSR): Peeking at the Prospectus for the Next Obesity and Metabolic Diseases Biotech

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.

WuXi XDC Cayman  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec (2359 HK)</a> aims to raise around US$150m via selling around 3% stake in <a href="https://www.smartkarma.com/entities/wuxi-xdc-cayman-inc" target="_blank" data-smartkarma-citation="entities:39917:1" rel="noopener">WuXi XDC Cayman (2268 HK)</a>.</li>
<li>WuXi XDC Cayman (WXDC) is a contract research, development, and manufacturing organization (CRDMO) focused on the global antibody drug conjugates (ADC) and broader bioconjugate market providing integrated and end-to-end services.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



WuXi AppTec (2359 HK) aims to raise around US$150m via selling around 3% stake in WuXi XDC Cayman (2268 HK).
WuXi XDC Cayman (WXDC) is a contract research, development, and manufacturing organization (CRDMO) focused on the global antibody drug conjugates (ADC) and broader bioconjugate market providing integrated and end-to-end services.
In this note, we will talk about the placement and run the deal through our ECM framework.


Wuxi XDC Placement - A Repeat of Biologics Placement Saga, Last Deal Did Well

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>In this insight, we provide some of the main highlights of the book <em><strong>"The Real Anthony Fauci",</strong></em> which was written by Robert F. Kennedy Jr. (RFK Jr) in 2021.</li>
<li>We discuss how the appointment of RFK Jr could impact some of the major health care stocks in Korea, especially those that are involved in developing and producing vaccines.</li>
<li>Although the share prices of many Korean vaccines related stocks have declined materially in the past 2-3 years, RFK Jr becoming the next US Health Secretary could pose further headwinds.</li>
</ul>


In this insight, we provide some of the main highlights of the book "The Real Anthony Fauci", which was written by Robert F. Kennedy Jr. (RFK Jr) in 2021.
We discuss how the appointment of RFK Jr could impact some of the major health care stocks in Korea, especially those that are involved in developing and producing vaccines.
Although the share prices of many Korean vaccines related stocks have declined materially in the past 2-3 years, RFK Jr becoming the next US Health Secretary could pose further headwinds.


Appointment of RFK Jr as the US Health Secretary and a Book Review Of "The Real Anthony Fauci"

Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>GenScript Biotech established operations site and logistics center in Australia. Eisai has received positive opinion from CHMP recommending approval of lecanemab. Otsuka forms JV to boost IV supply in US.</li>
<li>Lunit formed strategic alliance in France to expand AI solution deployment. Daiichi Sankyo and AstraZeneca submitted a new BLA for accelerated approval in the U.S. for datopotamab deruxtecan for NSCLC.</li>
<li>Cellid has completed recruiting and dosing all participants in its Phase 3 clinical trial of COVID-19 vaccine targeting Omicron variant. Alembic Pharmaceutical received FDA approval for hypertension drug.</li>
</ul>


GenScript Biotech established operations site and logistics center in Australia. Eisai has received positive opinion from CHMP recommending approval of lecanemab. Otsuka forms JV to boost IV supply in US.
Lunit formed strategic alliance in France to expand AI solution deployment. Daiichi Sankyo and AstraZeneca submitted a new BLA for accelerated approval in the U.S. for datopotamab deruxtecan for NSCLC.
Cellid has completed recruiting and dosing all participants in its Phase 3 clinical trial of COVID-19 vaccine targeting Omicron variant. Alembic Pharmaceutical received FDA approval for hypertension drug.


APAC Healthcare Weekly (Nov 17)- GenScript Biotech, Eisai, Otsuka, Daiichi Sankyo, Cellid, and Lunit

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>Revolution Medicines, an American oncology-focused biotechnology company, has made considerable progress in developing therapies for patients with RAS-addicted cancers.</li>
<li>We launched coverage of the stock In November 2023 and added Revolution Medicines to our high conviction list of ideas.</li>
<li>RevMed shares has massively outperformed in 2024 with shares up ~92% YTD vs. a ~12% gain on the XBI. I established a $55 PT and see the valuation as full. </li>
</ul>


Revolution Medicines, an American oncology-focused biotechnology company, has made considerable progress in developing therapies for patients with RAS-addicted cancers.
We launched coverage of the stock In November 2023 and added Revolution Medicines to our high conviction list of ideas.
RevMed shares has massively outperformed in 2024 with shares up ~92% YTD vs. a ~12% gain on the XBI. I established a $55 PT and see the valuation as full. 


2023 High Conviction Update: Revolution Medicines, Time To Take Profits?

United States

Pfizer Inc. operates as a pharmaceutical company. The Company offers medicines, vaccines, medical devices, and consumer healthcare products for oncology, inflammation, cardiovascular, and other therapeutic areas. Pfizer serves customers worldwide.

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Metsera, Inc. (MTSR): Peeking at the Prospectus for the Next Obesity and Metabolic Diseases Biotech

Biotech company developing NuSH peptides for obesity files for Q1 IPO with promising Phase 2 results and support from ARCH Ventures and Fidelity.

IPO Boutique

Wuxi XDC Placement - A Repeat of Biologics Placement Saga, Last Deal Did Well

WuXi AppTec (2359 HK) aims to raise around US$150m via selling around 3% stake in WuXi XDC Cayman (2268 HK). It has sold earlier in Nov 24 as well.

Sumeet Singh

Appointment of RFK Jr as the US Health Secretary and a Book Review Of "The Real Anthony Fauci"

We provide some of the main highlights of the book "The Real Anthony Fauci." We also discuss the impact of appointment of RFK Jr as US Health...

Douglas Kim

APAC Healthcare Weekly (Nov 17)- GenScript Biotech, Eisai, Otsuka, Daiichi Sankyo, Cellid, and Lunit

Biotech companies expand operations globally with new sites and drug approvals, advancing healthcare solutions and treatments. A phase 3 trial for...

Tina Banerjee

2023 High Conviction Update: Revolution Medicines, Time To Take Profits?

I remove Revolution Medicines stock from my high conviction list of ideas due to achieving a $55.00 price target and full valuation relative to peers.

Andrei Zakharov

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Metsera, Inc. (MTSR): Peeking at the Prospectus for the Next Obesity and Metabolic Diseases Biotech

​Biotech company developing NuSH peptides for obesity files for Q1 IPO with promising Phase 2 results and support from ARCH Ventures and Fidelity.

IPO Boutique

Wuxi XDC Placement - A Repeat of Biologics Placement Saga, Last Deal Did Well

WuXi AppTec (2359 HK) aims to raise around US$150m via selling around 3% stake in WuXi XDC Cayman (2268 HK). It has sold earlier in Nov 24 as well.

Sumeet Singh

Appointment of RFK Jr as the US Health Secretary and a Book Review Of "The Real Anthony Fauci"

We provide some of the main highlights of the book "The Real Anthony Fauci." We also discuss the impact of appointment of RFK Jr as US Health...

Douglas Kim

APAC Healthcare Weekly (Nov 17)- GenScript Biotech, Eisai, Otsuka, Daiichi Sankyo, Cellid, and Lunit

​Biotech companies expand operations globally with new sites and drug approvals, advancing healthcare solutions and treatments. A phase 3 trial for...

Tina Banerjee

2023 High Conviction Update: Revolution Medicines, Time To Take Profits?

I remove Revolution Medicines stock from my high conviction list of ideas due to achieving a $55.00 price target and full valuation relative to peers.

Andrei Zakharov

Biotech company developing NuSH peptides for obesity files for Q1 IPO with promising Phase 2 results and support from ARCH Ventures and Fidelity.

Biotech companies expand operations globally with new sites and drug approvals, advancing healthcare solutions and treatments. A phase 3 trial for...