Research from ACF Equity Research, ACF Equity Research

ACF Equity Research

Research from ACF Equity Research

Accuracy | Clarity | Foresight

ACF was set up to improve the effectiveness of capital markets for smaller and mid-sized companies. The majority of jobs are created by smaller companies not global companies. If we can help improve companies use of capital markets more projects will be completed, more jobs created, more global GDP grown, which in turn helps create more resources for education, leading to equality and opportunity for those who are still oppressed by ignorance and poverty.

ACF Equity Research is an independent research house specialising in the highest specification independent equity research for corporate clients.

We deliver premium independent corporate sponsored equity research characterised by its accuracy, clarity and foresight based upon a fundamental valuation approach.

Our independent research is designed to educate our professional investor readers about your company, with an emphasis on clear and accurate explanations. Our mission is to improve company’s liquidity through credible equity research services, excellent international distribution and reliable access for investment managers.

We believe in the importance and value of clarity, the careful articulation of technical ideas, concepts and solutions.

Our team of analysts are independently minded individuals who believe in thoroughness, technical competence and clear punchy communications.

Thematic (Sector/Industry)

<ul>
<li>Diabetes mellitus, Type 1 (T1D) and Type 2 (T2D, 85-90% of cases), is a USD ~75bn global therapy market.</li>
<li>Global economic costs of diabetes may exceed USD1 trn today and USD 450bn in the US, suggesting a pressing global health challenge.</li>
<li>Diabetes is a chronic metabolic disorder characterized by high blood sugar levels.</li>
</ul>


Diabetes mellitus, Type 1 (T1D) and Type 2 (T2D, 85-90% of cases), is a USD ~75bn global therapy market.
Global economic costs of diabetes may exceed USD1 trn today and USD 450bn in the US, suggesting a pressing global health challenge.
Diabetes is a chronic metabolic disorder characterized by high blood sugar levels.


ACF Thematic Research Regenerative Medicine Diabetes Treatment & Innovation 13032025

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>EMA’s human medicines committee (CHMP) recommended three new medicines for approval and adopted positive opinion for one generic medicine at its February 2025 meeting. </li>
<li>The committee recommended extending the therapeutic indications of 16 existing medicines, including two cystic fibrosis medicines, KAFTRIO and KALYDECO and oncology drugs CALQUENCE, DARZALEX, ENHERTU, and RINVOQ . </li>
<li>The CHMP concluded that its opinion recommending a marketing authorization for Eisai's Alzheimer’s disease drug Leqembi does not need to be updated.</li>
</ul>


EMA’s human medicines committee (CHMP) recommended three new medicines for approval and adopted positive opinion for one generic medicine at its February 2025 meeting. 
The committee recommended extending the therapeutic indications of 16 existing medicines, including two cystic fibrosis medicines, KAFTRIO and KALYDECO and oncology drugs CALQUENCE, DARZALEX, ENHERTU, and RINVOQ . 
The CHMP concluded that its opinion recommending a marketing authorization for Eisai's Alzheimer’s disease drug Leqembi does not need to be updated.


CHMP Meeting Update: 4 New Medicines Recommended For Approval, Reinstates Previous Leqembi Decision

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

<ul><li>Welcome to a new year and we are excited for the innovation and therapeutic breakthroughs that biopharma will reveal this year, while navigating through any changes in the regulatory and M&amp;A environment.</li><li>For our first Biopharma <span style="font-size: var(--content-font-size);">Review report in 2025, we cover the news that we missed during </span>the holiday break.</li><li>On the obesity front, NVO’s CagriSema fell short of expectations, while the FDA reaffirmed LLY’s GLP-1 shortage resolution, bearing bad news for HIMS and LFMD. </li></ul>

Welcome to a new year and we are excited for the innovation and therapeutic breakthroughs that biopharma will reveal this year, while navigating through any changes in the regulatory and M&amp;A environment.For our first Biopharma Review report in 2025, we cover the news that we missed during the holiday break.On the obesity front, NVO’s CagriSema fell short of expectations, while the FDA reaffirmed LLY’s GLP-1 shortage resolution, bearing bad news for HIMS and LFMD. 

Biopharma Week in Review - January 6, 2025

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Cross Asset Strategy

<ul><li>Technically, the SET Index is expected to move sideways, with the resistance at 1,468/1,477 points and the support at 1,456 points (25-day EMA) and 1,447 points.</li><li>This suggests that the SET is at a relatively attractive valuation level; hence, we switch our recommendation to Trading Buy if the index moves within the range of 1,401-1461 points.</li><li>We recommend divesting laggard stocks with high equity risk premiums (ERP) in favor of selectively buying stocks with strong WoW EPS recovery momentum, causing their ERPs to accelerate above the average.</li></ul>

Technically, the SET Index is expected to move sideways, with the resistance at 1,468/1,477 points and the support at 1,456 points (25-day EMA) and 1,447 points.This suggests that the SET is at a relatively attractive valuation level; hence, we switch our recommendation to Trading Buy if the index moves within the range of 1,401-1461 points.We recommend divesting laggard stocks with high equity risk premiums (ERP) in favor of selectively buying stocks with strong WoW EPS recovery momentum, causing their ERPs to accelerate above the average.

<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>Last week, SGMO got an even faster FDA path for Fabry gene therapy, VKTX built more anticipation for upcoming oral <span style="font-size: var(--content-font-size);">GLP-1 data, and ITRM crossed the antibiotic finish line at last. </span></li><li>AMGN showed at-risk confidence with a favorable court ruling versus REGN, VRTX pain data was as expected, NVO’s oral GLP- 1 in diabetes also benefited CVD, and ZLAB was lifted by niche lung cancer data. </li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.Last week, SGMO got an even faster FDA path for Fabry gene therapy, VKTX built more anticipation for upcoming oral GLP-1 data, and ITRM crossed the antibiotic finish line at last. AMGN showed at-risk confidence with a favorable court ruling versus REGN, VRTX pain data was as expected, NVO’s oral GLP- 1 in diabetes also benefited CVD, and ZLAB was lifted by niche lung cancer data. 

Biopharma Week in Review - October 28, 2024

United States

Vertex Pharmaceuticals Incorporated discovers, develops, and commercializes novel, small molecule pharmaceuticals for the treatment of diseases for which there are currently limited or no effective treatments.  The Company develops drugs for the treatment of cystic fibrosis, autoimmune diseases, cancer, inflammatory bowel disease, and neurological disorders.

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Vertex Pharmaceuticals (VRTX US)

ACF Thematic Research Regenerative Medicine Diabetes Treatment & Innovation 13032025

Global economic costs of diabetes may exceed USD1 trn today and USD 450bn in the US, suggesting a pressing global health challenge.

ACF Equity Research

CHMP Meeting Update: 4 New Medicines Recommended For Approval, Reinstates Previous Leqembi Decision

EMA’s CHMP recommended three new and one generic medicines for approval at its February 2025 meeting. The committee concluded that its positive...

Tina Banerjee

Biopharma Week in Review - January 6, 2025

On the obesity front, NVO’s CagriSema fell short of expectations, while the FDA reaffirmed LLY’s GLP-1 shortage resolution, bearing bad news for...

Water Tower Research

EU Mfg. PMI & Weekly Strategy

Technically, the SET Index is expected to move sideways, with the resistance at 1,468/1,477 points and the support at 1,456 points (25-day EMA)...

Krungthai XSpring

Biopharma Week in Review - October 28, 2024

Last week, SGMO got an even faster FDA path for Fabry gene therapy, VKTX built more anticipation for upcoming oral GLP-1 data, and ITRM crossed the...

Water Tower Research

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