Daily Brief Health Care: Modern Dental Group, Suzhou Zelgen Biopharmaceuticals, Blue Water Vaccines, Ono Pharmaceutical, Ensysce Biosciences , Dyadic International , Atossa Therapeutics and more

• Organic Growth vs. Inflation: True organic volume expansion is concentrated in the European and Australian markets, while North America and Greater China have historically experienced volume contraction. Revenue growth is highly exchange-rate-sensitive, particularly concerning the Euro and Australian Dollar appreciating against the Renminbi and Hong Kong Dollar.
• MicroDental Underperformance: The North American division, MicroDental, has consistently failed to meet initial synergy targets, with core operating profit dropping from HK$16.67 million in 2023 to HK$7.48 million in 2024. This prompted a hard pivot toward closing inefficient labs, relocating production offshore, and weeding out low-margin economy lines to defend group-level gross margins.
• Defending Against In-Sourcing & Chairside: Modern Dental Group is combatting the threat of in-office “chairside” milling and 3D printing by moving up the value chain into complex restorations (such as multi-unit bridges and implant abutments) that chairside systems cannot replicate. Simultaneously, the company is positioning itself as a key supplier of clinical design services, software, and materials (via partnerships like SprintRay) to capture revenue even when production moves in-house.

• Suzhou Zelgen Biopharmaceuticals is an integrated biopharmaceutical company focused on oncology, autoimmune diseases, and hemostasis/hematology, powered by a dual innovation engine.
• The company has four commercialized drugs, including Zepsun® and Zepuping, and a pipeline of 10 drug candidates across 29 clinical programs.
• Revenue was RMB1,204,390 thousand and net profit RMB640,010 thousand for the six months ended June 30, 2026.

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• Onconetix, Inc. is a commercial stage biotechnology company focused on oncology solutions, primarily its Proclarix in vitro diagnostic test. This filing registers shares for resale by selling stockholders.
• Proclarix is CE-marked and for sale in Europe, with a PRIME study initiated in the U.S. market. The company secured $30,249,600 in July 2026 Series F financing.
• Cash was approximately $5.4 million as of August 10, 2026. The company has substantial doubt about its ability to continue as a going concern.

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• Ono Pharmaceutical (4528 JP), during Q1FY27, reported revenue of ¥116.2B, down 9% YoY. Opdivo witnessed 3% decrease in revenue to ¥31.7B mainly due to increased competition in domestic market.
• The company reiterated the guidance numbers for FY27. Revenue is expected to be ¥455B, a decrease of 11.8% YoY, mainly due to the absence of sales of Forxiga Tablets.
• No near-term catalyst visible for the company at this moment but eventual indication expansions, approvals, new line of drugs may provide some impetus to share price from the present levels.

• Ensysce Biosciences is committed to finding a solution to the opioid crisis plaguing the US and other developed countries around the world.
• Through its proprietary TAAP technology Ensysce is in the process of receiving approval for an abuse-resistant yet still pain-relieving opioid.
• The company announced its 2Q financial results and showed that ENSC is in solid fiscal shape heading into a critical period.

• Dyadic has developed C1, its proprietary fungal expression system that can produce a variety of recombinant proteins.
• C1 has been commercialized in industrial applications and is in development for production of pharmaceutical grade proteins.
• C1 exhibits potential to economically produce recombinant proteins, biologic vaccines, virus-like particles, antibodies, Fc-fusion, enzymes, AAVs and other biopharmaceuticals.

• On Aug.
• 7, 2026, Atossa Therapeutics, Inc. (ATOS) announced financial results for the second quarter of 2026 and provided a business update.
• The company is approaching a potentially transformative period as two Phase 2 studies of (Z)-endoxifen are expected to produce data by year-end.