HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Zephyrm Bioscience / Equity Capital Markets

<ul>
<li>There’s great potential for PSCs, which provides new treatment options for complex diseases where traditional therapies are ineffective.The more solid the platform technology, the greater the dividends in later stage.</li>
<li>Zephyrm's pipeline candidates are promising. However, considering the R&amp;D risks, the uncertainty of future commercialization and product safety profile, we think the investment risk of this Company is relatively high.</li>
<li>Valuation of overseas peers is not high. In our view, valuation performance of Zephyrm would be largely depend on its clinical results of pipeline, which is a gamble for investors.</li>
</ul>


There’s great potential for PSCs, which provides new treatment options for complex diseases where traditional therapies are ineffective.The more solid the platform technology, the greater the dividends in later stage.
Zephyrm's pipeline candidates are promising. However, considering the R&amp;D risks, the uncertainty of future commercialization and product safety profile, we think the investment risk of this Company is relatively high.
Valuation of overseas peers is not high. In our view, valuation performance of Zephyrm would be largely depend on its clinical results of pipeline, which is a gamble for investors.


Pre-IPO Zephyrm Bioscience - Despite Promising Pipeline, Investment Risk Is High

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00