Tina Banerjee

Global Healthcare Analyst

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/puretech-health-plc" target="_blank" data-smartkarma-citation="entities:22096:1" rel="noopener">PureTech Health (PRTC LN)</a> has confirmed its possible merger with <a href="https://www.smartkarma.com/entities/nektar-therapeutics" target="_blank" data-smartkarma-citation="entities:15060:1" rel="noopener">Nektar Therapeutics (NKTR US)</a>. Uncertainty regarding the actual offer has caused volatility to PureTech shares.</li>
<li>Nektar will be required, by not later than November 3, 2022, to announce a firm intention to make an offer for the company.</li>
<li>Nektar faced a big setback in its lead pipeline assets and is going through tight financial condition. We are not expecting a lucrative takeover offer for PureTech.</li>
</ul>

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/puretech-health-plc" target="_blank" data-smartkarma-citation="entities:22096:1" rel="noopener">PureTech Health (PRTC LN)</a> has raised approximately $115.4 million through partial offloading of stake in <a href="https://www.smartkarma.com/entities/karuna-therapeutics-inc" target="_blank" data-smartkarma-citation="entities:28720:1" rel="noopener">Karuna Therapeutics Inc (KRTX US)</a>. PureTech will continue to hold 3.5% of Karuna's outstanding shares.</li>
<li>Following the transactions, PureTech has updated guidance to extend its operational runway to Q1 2026 from prior cash runway guidance into Q1 2025.</li>
<li>Karuna plans to submit a new drug application for KarXT in schizophrenia with the FDA in mid-2023. As a co-inventor of KarXT, PureTech has the right to receive royalty.</li>
</ul>

<ul>
<li>
<a href="https://www.smartkarma.com/entities/puretech-health-plc" target="_blank" data-smartkarma-citation="entities:22096:1" rel="noopener">PureTech Health (PRTC LN)</a> has highly differentiated wholly owned pipeline of seven therapeutic candidates and four lymphatic and inflammation platforms. It also has strategic investments in six founded entities.</li>
<li>KarXT, lead candidate of founded entity <a href="https://www.smartkarma.com/entities/karuna-therapeutics-inc" target="_blank" data-smartkarma-citation="entities:28720:1" rel="noopener">Karuna Therapeutics Inc (KRTX US)</a>, is progressing toward commercialization, thereby entailing milestone and royalty opportunities for PureTech. </li>
<li>PureTech’s lead candidate LYT-100 is in three late-stage clinical trials for three indications addressing large patient population. LYT-100 also has potential to address to other underserved diseases.</li>
</ul>

Janaghan Jeyakumar, CFA

Equity Analyst, Event-driven

Quiddity Advisors

<ul>
<li>The index changes for the FTSE UK Indices for the June 2022 Rebalance were announced yesterday. There will be 2 changes for FTSE 100 and 7 changes for FTSE 250.</li>
<li>The changes are the same as specified in my discussion point (<a href="https://www.smartkarma.com/discussion/138434" target="_blank" rel="noopener">link</a>) yesterday. </li>
<li>Below is a closer look at the Inclusion Parameters and price performance of the names involved in this Rebalance Event.</li>
</ul>

<ul>
<li>The index changes for the FTSE UK Indices for the September 2022 Rebalance were announced yesterday. There will be 3 changes for FTSE 100 and 8 changes for FTSE 250.</li>
<li>These index changes are mostly in line with our expectations in <a href="https://www.smartkarma.com/insights/ftse-uk-quiddity-leaderboard-sep-2022-avast-meggitt-brewin-and-a-busy-rebalance-month" target="_blank" data-smartkarma-citation="insights:79187" rel="noopener">FTSE UK Quiddity Leaderboard Sep 2022: Avast, Meggitt, Brewin, and a Busy Rebalance Month</a>. </li>
<li>However, there a couple of surprises. In this insight, we take a closer look at our expectations for index flows and potential trading ideas</li>
</ul>

United States

No authorization provided.

PureTech Health plc operates as a healthcare company. The Company researches and licenses technology and videogames which are used as a treatment for neurological problems.

ADTV (USDm)	0.00
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
P/B	0.00
EV/EBITDA	0.00
EV/Sales	0.00
Dividend (Yield)	0.00

PureTech Health - PRTC LN