Daily Brief Health Care: Biocytogen Pharmaceuticals (Beijing), Tokyo Stock Exchange Tokyo Price Index Topix, Bridgebio Pharma Inc and more

In today’s briefing:

Biocytogen Pharma IPO: Large Drug Pipeline but Negatives Outweighs the Positives
Japan’s Gender Gap Index Remains Low. Power to Change the Existing Structure Is Still Invisible.
Solvency Risk Short Candidates: BridgeBio, Wayfair, Archaea Energy, Enviva

Biocytogen Pharma IPO: Large Drug Pipeline but Negatives Outweighs the Positives

Biocytogen Pharmaceuticals (Beijing) (BCP HK) is a biopharmaceutical and pre-clinical research services company with two core products (YH003 and YH001) and 10 other pipeline candidates.
The company currently does not have any commercialised products and earns revenue through offering pre-clinical research services and antibody development.
Biocytogen’s business model comes with inherent risks such as absence of approved drugs. Hence, we would recommend staying on the side line.

In the area of politics, where there is a noticeable lag, there is a system in the electoral system that actually discourages aspiring politicians from becoming politicians.
The social structure of male dominance is nothing more than maintenance of that structure by groups with vested interests, and risk exists that sensitivity to new values will be dulled.
Without the forces at work to change existing social structures, the gender gap index isn’t expected to change much next year, but so far we don’t see such forces now.

This model seeks companies facing dangerously high leverage coupled with negative or declining cash flows. It considers interest expense, capex and short term maturities for additional input.
The companies may not be viable given cash flows and capital structures. These shorts tend to have higher betas and can have strong down moves as the crisis is recognized.
This week we flag: BridgeBio, Wayfair, Archaea Energy, Enviva Inc.

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