Healthcare

In 9MFY25, Eisai Co Ltd (4523 JP) reported 9% YoY growth in revenue, driven by 3Ls. Operating profit rose 48% YoY and net profit climbed 56% YoY to ¥45.5B.
Eisai kept its FY25 total revenue guidance unchanged, implying a weaker Q4FY25 with a probable loss on the cards.
Lenvima growth stabilizes on indication expansion, Leqembi awaiting approvals and untangling safety concerns in a bid to reach its full market potential.

Glaukos Corporation: Can The iDose Market Expansion Fetch Significant Growth With iDose Platform?

Glaukos Corporation’s financial results for the fourth quarter and full year 2024 reflect strong performance across multiple segments and considerable strategic initiatives, setting up the company for continued development in the upcoming year.
The company reported record fourth quarter consolidated net sales of $105.5 million, marking a 28% increase compared to the same period in the previous year.
For the full year, Glaukos achieved net sales of $383.5 million, representing a 22% increase over 2023.

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Mar 08

Daily Brief Health Care: Laurus Labs, ACELYRIN , Cochlear Ltd, Insulet Corp, Globus Medical Inc A, Cadrenal Therapeutics , Revelation Biosciences and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

The Beat Ideas: Laurus Labs
Acelyrin and Alumis Merger Faces Activist Challenges Amid Tang’s Higher Offer and Market Skepticism
Cochlear Ltd (COH AU): Negative Reaction Is Overdone; Performance Reversal Is Imminent
Insulet Corporation: Leveraging Direct-to-Consumer Channels To Boost Product Awareness & Usage!
Globus Medical: Nevro Acquisition & Market Expansion Driving Our ‘Outperform’ Rating!
CVKD: Collaborating with Abbott for Pivotal Phase 3 Trial
REVB: 2025 Is the Year for Measurable Progress

The Beat Ideas: Laurus Labs

By Sudarshan Bhandari

The company is expected to see multiple capacity expansions coming online in FY26, with ramp-up occurring throughout FY26 and FY27 onwards.
Currently, execution challenges and unavoidable delays have impacted the company’s revenue and margin trajectory, resulting in depressed margins on a short-term basis.
As new projects come online and product ramp-ups occur, it expects revenue and margin expansion, ultimately reflecting in the bottom line due to the increased gross block & new products.

Acelyrin and Alumis Merger Faces Activist Challenges Amid Tang’s Higher Offer and Market Skepticism

Acelyrin agreed to an all-stock merger with Alumis, valued at $2.2/share, requiring shareholder approval with 24% support.
Tang’s $3/share cash offer was rejected; activists hold 11% stake, acquired near $2/share, with unclear agendas.
ALMS merger has 62% support; Ayurmaya Capital holds 22% of ALMS, 9% of SLRN, and supports the merger.

Cochlear Ltd (COH AU): Negative Reaction Is Overdone; Performance Reversal Is Imminent

Cochlear Ltd (COH AU) now expects FY25 underlying net profit to be at the lower end of A$410–430M guidance range due to lower services revenue and higher cloud-related investment.
Despite 5% growth in H1FY25, Cochlear reiterated that “solid market growth rates to drive cochlear implant unit growth of around 10% in FY25.”
Cochlear is expected to release next-generation cochlear implant in mid-2025. The introduction of the new off-the-ear Nucleus Kanso 3 sound processor is expected to contribute to services revenue from FY26.

Insulet Corporation: Leveraging Direct-to-Consumer Channels To Boost Product Awareness & Usage!

Insulet Corporation concluded a robust fiscal year 2024 with notable achievements in both the fourth quarter and the full year.
The company achieved a milestone by surpassing $2 billion in revenue, marking its ninth consecutive year with at least 20% constant currency revenue growth.
Key drivers of this growth include the strong performance and adoption of the Omnipod 5 insulin delivery system, both in the U.S. and expanding international markets.

Globus Medical: Nevro Acquisition & Market Expansion Driving Our ‘Outperform’ Rating!

Globus Medical, a company specializing in medical devices and technology, closed 2024 with notable positive performance metrics, as illustrated in their financial results.
Revenue achieved a record high of $2.519 billion, marking an impressive 61% increase compared to the prior year.
This was accompanied by an increase in non-GAAP EPS to $3.04, a substantial rise of 31% even with a 20% expansion in diluted shares versus the previous year.

CVKD: Collaborating with Abbott for Pivotal Phase 3 Trial

On March 4, 2025, Cadrenal Therapeutics, Inc. (CVKD) announced a collaboration agreement with Abbott to support the company’s pivotal TECarfarin Anticoagulation and Hemocompatibility with Left Ventricular Assist Devices (TECH-LVAD) trial.
The collaboration calls for Abbott to share insights from recent HeartMate 3 trials while also assisting Cadrenal with trial design, site identification, trial awareness, and HeartMate 3 expertise.
Having the support of Abbott will be a huge advantage for Cadrenal and should ensure that the TECH-LVAD trial is performed with the maximum efficiency as Abbott has a tremendous amount of experience working with this patient population.

REVB: 2025 Is the Year for Measurable Progress

Revelation Biosciences is a life sciences company whose development of immunologic-based therapies is based on the well-established biology of phosphorylated hexaacyl disaccharide (PHAD) and its effect on the innate immune system.
The company announced its 2024 annual results, which showed good cash on its balance sheet and reminded investors that a pivotal trial is underway.

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Mar 07

Daily Brief Health Care: Bumrungrad Hospital Pub Co, Exact Sciences, Biomarin Pharmaceutical, Ionis Pharmaceuticals, Kestra Medical Technologies, UMP Healthcare and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Bumrungrad Hospital (BH TB): Dwindling International Revenue on Competition; No Near-Term Respite
Exact Sciences Corporation: Is The Oncology Product Pipeline Development to Capture A Lion’s Share of the Market?
BioMarin Pharmaceutical: Expansion of VOXZOGO & Enzyme Replacement Therapy Growth Propelling Our ‘Buy’ Rating!
Ionis Pharmaceuticals: An Insight Into Commercial Expansion of Next-Generation ASO Therapies and Wainua’s Market Potential!
Kestra Medical Technologies (KMTS): IPO Pops 35% at Open, Holds Gains Amidst Volatile Backdrop
UMP Healthcare (722 HK): Solid H1 2025, Cost-Cutting Initiatives Bearing Fruit

Bumrungrad Hospital (BH TB): Dwindling International Revenue on Competition; No Near-Term Respite

Bumrungrad Hospital Pub Co (BH TB) reported marginal revenue growth in 2024, with margins expanding on lower expenses. Revenue from international patients witnesses contraction, while domestic patient volumes provide traction.
Competition from peers like BDMS remains a concern in near term. With the entire Ramadan period falling in 1Q25, Bumrungrad’s international patient revenue is expected to remain muted in 1Q25.
The share prices of Bumrungrad are expected to remain under pressure with the commencement of operation at BIH Phuket being the only near-term trigger for the company.

Exact Sciences Corporation: Is The Oncology Product Pipeline Development to Capture A Lion’s Share of the Market?

Exact Sciences recently reported its fourth-quarter 2024 financial results, showcasing a mix of both positive momentum and certain challenges.
For the full year, Exact Sciences achieved a core revenue growth of 11%, reaching $2.75 billion, and notably expanded its adjusted EBITDA by nearly 48%.
The company also doubled its free cash flow and ended the year with a robust $1.04 billion in cash and securities.

BioMarin Pharmaceutical: Expansion of VOXZOGO & Enzyme Replacement Therapy Growth Propelling Our ‘Buy’ Rating!

BioMarin Pharmaceutical reported strong financial results for the fourth quarter and the full year of 2024.
The company recorded an impressive 18% year-over-year revenue growth, reaching a total of $2.85 billion for the year.
This growth was primarily driven by the strong performance of its commercial portfolio, particularly VOXZOGO for achondroplasia, which saw a 56% increase in revenue year-over-year.

Ionis Pharmaceuticals: An Insight Into Commercial Expansion of Next-Generation ASO Therapies and Wainua’s Market Potential!

Ionis Pharmaceuticals, a biotech company with a focus on RNA-targeted drug discovery, has transitioned into a fully integrated commercial stage entity, marked by its first independent product launch of TRYNGOLZA.
This drug, approved by the FDA for familial chylomicronemia syndrome (FCS), aims to reduce triglyceride levels and the risk of acute pancreatitis.
The launch moved quickly, getting the medication to patients within weeks of approval.

Kestra Medical Technologies (KMTS): IPO Pops 35% at Open, Holds Gains Amidst Volatile Backdrop

By IPO Boutique

Kestra Medical Technologies priced 11.9mm shares (upsized from 10.0mm) at $17.00 ($1 Above the $14-$16 range) and opened at $22.95 for a gain of 35%.
Kestra Medical Technologies (KMTS US) is the second medical device company to go public with success in 2025.
The equity capital markets area is still under scrutiny as a whole following the lackluster debuts of the two large IPOs in 2025.

UMP Healthcare (722 HK): Solid H1 2025, Cost-Cutting Initiatives Bearing Fruit

By Sameer Taneja

UMP Healthcare (722 HK) reported a Revenue/PAT growth of -1.2%/45.7% YoY as cost-cutting initiatives bore fruit for the company in H1 FY25.
Net cash and investments reached 294 mn HKD (representing 88% of the market capitalization) due to robust operating profits and excellent working capital control.
Trading at 7.7x PE and 0.4x EV-EBITDA, with an 8% dividend yield, there is massive value in the name. The key lies in improving ROCE, which remains low- single digit.

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Mar 06

Daily Brief Health Care: Neuren Pharmaceuticals, Quoin Pharmaceuticals and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Neuren Pharmaceuticals (NEU AU): Daybue US Sales and Geography Expansion to Drive Growth
QNRX: More Positive Data Supporting Efficacy of QRX003 for NS Campaign to Raise Awareness of the Disease

Neuren Pharmaceuticals (NEU AU): Daybue US Sales and Geography Expansion to Drive Growth

Neuren Pharmaceuticals (NEU AU) received A$56M U.S. royalty income from Daybue in 2024 up 110% from A$27M in 2023. Cumulative income from Daybue reached to A$445M over 2023 and 2024.
Assuming Daybue U.S. sales guidance is met and an exchange rate of 0.65, Neuren anticipates earning U.S. royalties of A$62–67M, up 15% YoY at mid-point in 2025.
Daybue will be launched in Canada in 3Q25. European approval is expected in 1Q26. For Japan, Acadia plans to initiate small clinical study by 3Q25 to support a marketing application.

QNRX: More Positive Data Supporting Efficacy of QRX003 for NS Campaign to Raise Awareness of the Disease

There are no approved NS treatments currently & Quoin is optimistic that QRX003 can become the first.
The overall patient population is fairly sizable QNRX estimates there are ~6k-7k patients in the U.S. and EU.
Moreover, NS is often undiagnosed.

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Mar 05

Daily Brief Health Care: Medexus Pharmaceuticals, Longeveron , Mira Pharmaceuticals , Windtree Therapeutics and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Best Ideas of 2025
LGVN: Great Position for Pivotal Year
MIRA: Critical Testing Approved
Windtree Therapeutics Inc – Sponsored – Impartial – Comprehensive

Best Ideas of 2025

By Richard Howe

The range of ideas is broad. The smallest market cap is a $15MM Canadian micro-cap that is trading below its net cash, and the largest is an $25BN market cap online travel company that is gobbling up its own shares.
We have ideas profiled from Poland, Canada, India, Austria, Argentina, Italy, and of course, the United States.
The report will start with my personal favorite idea and then cover the additional ideas in alphabetical order.

LGVN: Great Position for Pivotal Year

Longeveron is focusing on using its primary treatment, Lomecel-B, to fight a rare pediatric heart birth defect that devastates families but continues to receive good FDA news regarding its treatment for Alzheimer’s Disease.
The company announced improved revenue and reduced costs in 2024 results.
Additionally, the company confirmed it has enough cash on hand to last through 2025 and that testing may be accelerated.

MIRA: Critical Testing Approved

MIRA Pharmaceuticals(MIRA) Company Sponsored Research Report

Windtree Therapeutics Inc – Sponsored – Impartial – Comprehensive

In Sept.
2024, WINT reported positive Phase 2b study results of istaroxime in early CS patients.
To position istaroxime for Phase 3 readiness, WINT is launching a small Phase 2 study in the more severe form of CS, SCAI Stage C.

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Mar 04

Daily Brief Health Care: Xiamen Amoytop Biotech Co Ltd, Ligand Pharmaceuticals, IHH Healthcare, Medtronic Plc, Azitra, PegBio, Penumbra , SBC Medical Group Holdings , Medical Data Vision, Edesa Biotech and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Quiddity STAR 50/100 Mar25 Results: US$1.4bn Total One-Way Flows; Mostly in Line with Expectations
LGND: First Steps into Cell & Gene Therapy
IHH Healthcare (IHH MK): Consistent 2024 Result; Stable Occupancy Amid Capacity Expansion
Medtronic Plc.: Hugo Robotic Surgical Platform Rollout to Support A Trajectory Of Sustainable Growth!
AZTR: Netherton Topline By Year-End
PegBio 派格生物 IPO: PHIP Updates Don’t Look Good
Penumbra Inc.: Will Its Market Penetration & Access Initiatives Help Capture The Thrombectomy Market?
SBC: Recent Steps Implemented to Support Growth
Medical Data Vision Co., Ltd (3902 JP): Research Update
EDSA: Raises 15 Million to Advance EB06

Quiddity STAR 50/100 Mar25 Results: US$1.4bn Total One-Way Flows; Mostly in Line with Expectations

By Janaghan Jeyakumar, CFA

The March 2025 index review results for the STAR 50 and STAR 100 indices were announced after market close on Friday 28th February 2025.
There will be 3 changes for the STAR 50 index and 6 changes for the STAR 100 index.
We expect one-way flows of approximately US$1bn and US$356mn for the STAR 50 and STAR 100 index rebal events respectively.

LGND: First Steps into Cell & Gene Therapy

Ligand Pharmaceuticals holds a portfolio of revenue, royalty & milestone generating assets that have been vetted by its internal investment team.
Ligand considers individual biopharmaceutical products, platforms, companies & income streams in its opportunity set.
It targets late-stage and commercial income-producing assets when making investments.

IHH Healthcare (IHH MK): Consistent 2024 Result; Stable Occupancy Amid Capacity Expansion

IHH Healthcare (IHH MK) delivered consistent performance with 2024 revenue rising 16% YoY, while EBITDA growing at a faster pace of 17% YoY.
Singapore, Turkiye & Europe, India, Malaysia show strength with favorable patient mix, higher occupancy, and higher revenue per in-patient.
IHH added 1004 beds in 2024 and is well on track to add ~4,000 beds (+33% capacity) by 2028 through both organic and inorganic expansions.

Medtronic Plc.: Hugo Robotic Surgical Platform Rollout to Support A Trajectory Of Sustainable Growth!

Medtronic’s third-quarter results of fiscal year 2025 present a mixed yet promising picture of the company’s performance and strategic initiatives.
The company has reported mid-single-digit organic revenue growth for the ninth consecutive quarter, highlighting consistent market performance.
Significant areas of growth include the Cardiac Ablation Solutions, which reported a 22% increase, as well as strong double-digit growth in leadless pacing, Neuromodulation, and Diabetes segments.

AZTR: Netherton Topline By Year-End

Azitra is developing genetically engineered bacteria for therapeutic use in dermatology.
The company possesses a microbial library of 1,500 unique bacterial strains that are candidates for a variety of indications.
Azitra’s lead candidate is ATR-12 for the rare disease Netherton Syndrome (NS).

PegBio 派格生物 IPO: PHIP Updates Don’t Look Good

By Ke Yan, CFA, FRM

PegBio is looking at raising up to USD 100m to list in Hong Kong.
We have previously covered the company’s fundamentals and a brief valuation.
We look at the difference between previous filing and current PHIP filing. We see massive delays which don’t position the company well for the listing.

Penumbra Inc.: Will Its Market Penetration & Access Initiatives Help Capture The Thrombectomy Market?

Penumbra’s fourth-quarter and full-year 2024 earnings reveal a company that continues to prioritize its thrombectomy business, showcasing impressive growth figures in the U.S. market while dealing with challenges in international operations.
The company’s non-GAAP revenue for Q4 2024 was $321.3 million, reflecting a 12.9% year-over-year increase on an adjusted basis, excluding the Italian payback adjustment.
When looking at the full year, Penumbra’s revenue reached over $1.2 billion, signifying a 13.4% increase compared to 2023.

SBC: Recent Steps Implemented to Support Growth

By Nippon Investment Bespoke Research UK

In SBC’s home market, Japan, demand for aesthetic medical treatments has grown in recent years, partially reflecting the impact of social media.
The rising acceptance of and popularity of aesthetic medicine is partially attributable to growing demand for dermatological treatments.
Younger and middle age people appear to be more interested in elective cosmetic procedures and SBC revenue growth is highly correlated to franchisee expansion and as the company broadens its service offerings.

Medical Data Vision Co., Ltd (3902 JP): Research Update

Medical Data Vision [MDV] reported FY24 (Dec year-end) earnings results with full-year gross profit [GP] of ¥4,331mil (-13.9% YoY), an operating profit [OP] of ¥3mil (-99.8% YoY) on sales of ¥5,906mil (-8.0% YoY).
Given the Q3 performance, the firm revised down its full-year forecasts on 11 November, however, the full-year results fell short of the revised guidance of OP of ¥510mil on sales of ¥6,600mil.
MTP’s profit targets remain unchanged, guiding for FY25 OP of ¥2,600mil and RP of ¥2,500mil.

EDSA: Raises 15 Million to Advance EB06

On February 14, 2024, Edesa Biotech, Inc. (EDSA) announced financial results for the first quarter of fiscal year 2025 that ended December 31, 2024 and provided a business update.
The company recently announced it raised $15 million in a private placement with healthcare-focused institutional investors.
The funds will be utilized to advance its anti-CXCL10 monoclonal antibody, EB06, for the treatment of vitiligo.

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Mar 03

Daily Brief Health Care: Xiamen Amoytop Biotech Co Ltd, BeiGene , Medexus Pharmaceuticals, Sage Therapeutics, SpringWorks Therapeutics Inc and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

STAR50/STAR100 Index Rebalance: Methodology Changes & Some Surprises
BeiGene (6160.HK/ONC US) 2024 Results – The Performance Is Outstanding
Best Idea of 2025: Medexus Pharmaceuticals
Strategic Reviews, Mergers, and Asset Sales: Analyzing Upside Potential in Active Portfolio Ideas
SSI Weekly Newsletter Highlights: SWTX and NATH Potential Buyouts, LQDA FDA Update and More

STAR50/STAR100 Index Rebalance: Methodology Changes & Some Surprises

By Brian Freitas

There are 3 constituent changes for the STAR50 INDEX and 6 changes for the STAR100 Index at the March rebalance that will be implemented at the close on 14 March.
The last-minute methodology change could lead to under/over positioning on some names and those stocks could move the most over the next few days.
Performance has been mixed in the changes to the STAR50 INDEX but the outright adds have continued to outperform the outright deletes for the STAR100 Index.

BeiGene (6160.HK/ONC US) 2024 Results – The Performance Is Outstanding

By Xinyao (Criss) Wang

BeiGene’s 2024 results beat expectations, mainly driven by strong sales growth of BRUKINSA. In 2025, BRUKINSA’s sales would exceed Calquence for the first time.But sales performance of tislelizumab remains lackluster.
Based on positive trend, turning losses into profits is just a matter of time. BeiGene is expected to achieve positive GAAP operating income in 2025, which is an inflection point.
US$24.5-26.5 billion is the valuation bottom line, below which BeiGene is undervalued. Our forecast is that market value would reach US$37.5 billion. So, there is still upside potential in valuation.

Best Idea of 2025: Medexus Pharmaceuticals

By Richard Howe

Medexus (MDP.TO / MEDXF) is my best idea for 2025. The stock trades at a distressed valuation despite the current launch of a new drug that could double revenue and triple EBITDA within 3 years.
I see 100% upside in 2025, but there is the potential for 400% to 500% upside over a three year period.
Downside is limited as Medexus has minimal debt (net debt to EBITDA of 0.7x) and a stable base business.

Strategic Reviews, Mergers, and Asset Sales: Analyzing Upside Potential in Active Portfolio Ideas

Sage Therapeutics rejected Biogen’s $7.22/share offer, initiating a strategic review for potential sale, indicating a possible higher premium.
SPAR Group’s merger with Highwire Capital faces uncertainty due to funding issues, with potential for significant stock price decline.
Kronos Bio’s strategic review follows clinical trial discontinuation, with potential sale or reverse merger, trading below net cash value.

SSI Weekly Newsletter Highlights: SWTX and NATH Potential Buyouts, LQDA FDA Update and More

SpringWorks Therapeutics (SWTX) is in late-stage acquisition talks with Merck KGaA, with a potential buyout offer at $85/share.
Liquidia (LQDA) had its FDA case denied, delaying Yutrepia’s market entry until May 2025, with commercialization on track.
ContextLogic (LOGC) received a $150m strategic investment from BC Partners, enhancing its cash balance and NOL monetization potential.

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Mar 02

Daily Brief Health Care: Shanghai Henlius Biotech and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

China Healthcare Weekly (Mar.2) – NewCo Model, Pfizer-Summit Deal, Henlius to Enter HK Stock Connect

China Healthcare Weekly (Mar.2) – NewCo Model, Pfizer-Summit Deal, Henlius to Enter HK Stock Connect

By Xinyao (Criss) Wang

The NewCo model can be considered as an “intermediate state” for Chinese biotech companies when they hopes to enter overseas markets, rather than a real success in internationalization.
After the announcement of Pfizer-Summit cooperation, share price of Summit plunged. Pfizer is clearly the beneficiary. The possibility of Summit being acquired could be reduced, which make investors unhappy.
Shares of Henlius surged. Thanks to Lin Lijun’s dissenting vote, investors have the opportunity to profit at a higher price.Next goal is to be included in Hong Kong Stock Connect.

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Mar 01

Daily Brief Health Care: Onesource Specialty Pharma, Kestra Medical Technologies, BeiGene , Imunon , Lantheus Holdings and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Post Demerger Outlook: OneSource Specialty Pharma- India’s First Multi-Modality CDMO
Kestra Medical Technologies (KMTS): Medical Device IPO Story Easy to Digest Amidst Market Volatility
BeiGene (6160 HK): Brukinsa Outpaces Competitor in 4Q US Sales; Solid Guidance for 2025
IMNN: Phase 3 Ovarian Cancer Trial to get Underway in Mar 2025
LNTH: 2025 Guidance Provided

Post Demerger Outlook: OneSource Specialty Pharma- India’s First Multi-Modality CDMO

By Nimish Maheshwari

Onesource Specialty Pharma (ONESOURC IN) has transitioned from a niche player to a multi-modality CDMO powerhouse through strategic restructuring, rapid revenue expansion, and aggressive capacity building.
With a projected INR1,400 crore revenue in FY25 (INR173 crore in FY24) and shifting from MSA to CSA contracts, OS is stabilizing its revenue model, tapping into high-growth segments.
By leveraging a first-mover advantage in GLP-1, regulatory strength, and a $100 million capex plan, OS is positioning itself to become a billion-dollar global CDMO leader within the next 3-4Yrs.

Kestra Medical Technologies (KMTS): Medical Device IPO Story Easy to Digest Amidst Market Volatility

By IPO Boutique

Wearable defibrillator maker, Kestra Medical Technologies (KMTS US) is set to debut on Thursday (3/6) seeking a cash raise of up to $160 million and a valuation between $667m-$762.
The deal is considered well-oversubscribed from continued 1-on-1 conversions and high-quality engagements.
Given the financials and sector in which this company operates in and the strong backing (Bain Capital), we continue to believe this IPO will be well-received despite any market volatility.

BeiGene (6160 HK): Brukinsa Outpaces Competitor in 4Q US Sales; Solid Guidance for 2025

In 4Q24, BeiGene (6160 HK) reported U.S. sales of Brukinsa of $616M, up 97% YoY and 22% QoQ, with 60%+ of demand growth coming from expanded use in CLL.
Brukinsa holds 25% market share in new patient starts in the U.S. in CLL, followed by Calquence (20%). For the first time, Brukinsa’s quarterly U.S. revenue outpaced that of Calquence.
Beigene has guided for 2025 revenue of $4.9–5.3B (up 29–39% YoY), driven by Brukinsa’s U.S. leadership position and continued global expansion in both Europe and other markets.

IMNN: Phase 3 Ovarian Cancer Trial to get Underway in Mar 2025

On February 27, 2025, Imunon, Inc. (IMNN) announced financial results for 2024 and provided a business update.
The company is currently finishing preparations to conduct a Phase 3 clinical trial of its lead development compound, IMNN-001, in the treatment of advanced ovarian cancer.
We anticipate the 500-patient trial will initiate before the end of the first quarter of 2025.

LNTH: 2025 Guidance Provided

Lantheus is a leader in radiopharmaceutical offerings in oncology & precision diagnostics.
It offers a portfolio of diagnostic & therapeutic products directly & via partnerships & licensing.
The primary revenue driver is Pylarify, a PET tracer for PSMA-expressing prostate cancer.

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Feb 28

Daily Brief Health Care: Raffles Medical Group, SpringWorks Therapeutics Inc, Mesoblast Ltd, Genomma Lab Internacional Sab, VISEN Pharmaceuticals, Evaxion Biotech A/S, Monogram Orthopaedics , Bone Biologics and more

By Smartkarma Daily Briefs | Daily Briefs, Healthcare

In today’s briefing:

Raffles Medical (RFMD SP): 2H24 Result, China Recovery, Buyback, and Dividend Raise Expectation
SpringWorks Therapeutics in Advanced Acquisition Talks with Merck KGaA Amid FDA Approval and Growth Potential
Mesoblast (MSB AU): ‘Comparable’ Pricing for Ryoncil; US Commercialization Is Progressing
Actinver Research – Genomma Lab 4Q24: Healthy finish of the year (Quick View)
Visen Pharmaceuticals (维升药业) IPO: PHIP Updates Don’t Look Positive
EVAX: Extended Trial is Excellent News
MGRM: Monogram announces regulatory update on its 510(k) premarket filing submission to the FDA. The company also provided updates on the Shalby Limited clinical trial in India.
BBLG: Funding Looks Good as Trials Continue

Raffles Medical (RFMD SP): 2H24 Result, China Recovery, Buyback, and Dividend Raise Expectation

Raffles Medical Group (RFMD SP) reported mixed 2024 result. However, 2H24 revenue increased 15% YoY, operating profit rose 5% YoY, and adjusted PATMI jumped 38% YoY.
China operation is recovering, with revenue growing 10% YoY to S$65M in 2024. Three general hospitals in China have demonstrated strong potential for growth and have a positive outlook ahead.
Raffles has revised its dividend policy to pay out at least 50%. The company intends to buy back up to 100M ordinary shares over the next two years.

SpringWorks Therapeutics in Advanced Acquisition Talks with Merck KGaA Amid FDA Approval and Growth Potential

SpringWorks Therapeutics is in advanced acquisition talks with Merck KGaA, following FDA approval for its drug Gomekli.
Merck’s acquisition strategy focuses on low-risk, value-creating oncology deals, aligning with SpringWorks’ FDA-approved treatments.
Estimated peak sales for SpringWorks’ drugs range from $600m to $1bn, suggesting a potential $85/share valuation.

Mesoblast (MSB AU): ‘Comparable’ Pricing for Ryoncil; US Commercialization Is Progressing

Mesoblast Ltd (MSB AU) has announced pricing for Ryoncil in the U.S. in tandem with the economic value of treatment with product availability planned for the current quarter.
Wholesale acquisition cost of Ryoncil has been set at $194K per infusion. Ryoncil infusion is given twice per week for 4 weeks. This brings the full treatment cost to $1.55M.
The pricing is strategically determined against the cost of treating a child who dies of SR-aGvHD of $2.5M and calculated total benefits of patient outcomes using Ryoncil of $3.2–4.1M.

Actinver Research – Genomma Lab 4Q24: Healthy finish of the year (Quick View)

By Actinver

Revenues of P$4.7bn grew 32.4% YoY, supported by healthy growth across all regions.
Sales in Mexico were in line with our estimates, while in LatAm and the U.S. they were slightly lower than expected, with the former still posting a solid growth vs an easy comp base amid improving conditions in the region.
In the U.S., a weaker flu season partially impacted sales.

Visen Pharmaceuticals (维升药业) IPO: PHIP Updates Don’t Look Positive

By Ke Yan, CFA, FRM

Visen Pharmaceuticals is looking at raising up to USD 300m to list in Hong Kong.
The company has passed the hearing for the listing and filed a new version of the prospectus.
We look at the difference between previous filing and current filing. Most of the changes are not critical but we think overall it doesn’t look good.

EVAX: Extended Trial is Excellent News

EVAX is a clinical stage company that has proprietary AI models designed to more efficiently and more accurately target much-needed treatments.
The company has two streams of possible revenue: from the treatments themselves and from the licensing of AI technology.
The company announced that a key Phase 2 trial was being extended due to the positive results seen to this point, which is a very positive sign for the treatment potential of EVX-01.

MGRM: Monogram announces regulatory update on its 510(k) premarket filing submission to the FDA. The company also provided updates on the Shalby Limited clinical trial in India.

Monogram Technologies (NASDAQ: MGRM) is a medical device company developing a product solution architecture to enable patient-optimized orthopedic implants at scale by linking 3D printing and robotics with advanced pre-operative imaging.
The company delivered its first surgical robot in November 2023 and submitted its 510(k) on July 19th and the application passed the Administrative Review.
The first live in patient surgery OUS is expected in early 2025.

BBLG: Funding Looks Good as Trials Continue