In today’s briefing:
- Taiwan Top 50 ETF Rebalance Preview: Hat Trick for Caliway Biopharma?
- Quiddity NIFTY Sep25 Results: 13/14 Predictions Correct; Only One Surprise; ~US$1.2bn One-Way
- Business Breakdown: Kovai Medical – A Regional Leader in a Growing National Market
- CSL Ltd (CSL AU): Announces Job Cut and Vaccine Unit Spinout Amid Strong FY25 Financial Performance
- Wave Of Director Acquisitions as Local Rally Takes a Breather
- Charles River Laboratories: Initiation of Coverage- Leveraging Regulatory Wins – Will Flexibility Cement Its Market Leadership?
- VNRX: Management seeks to secure multiple licensing agreements in the human diagnostic space with the 1st one expected in 3Q 2025.
- AZTR: Second Quarter Update
- CING: NDA Submitted
- Ainos, Inc: AI Nose Gears Up for Large-Scale Commercialization in 2026
Taiwan Top 50 ETF Rebalance Preview: Hat Trick for Caliway Biopharma?
- There could be 2 changes for the Yuanta/P-Shares Taiwan Top 50 ETF in September – both changes are high probability.
- Caliway Biopharmaceuticals (6919 TT) and King Slide Works (2059 TT) are being added to a global index at the close today and are potential inclusions to the ETF in September.
- Caliway Biopharmaceuticals (6919 TT) will also be added to another global index at the close on 19 September, so more passive inflows for the stock. Reversion thereafter?
Quiddity NIFTY Sep25 Results: 13/14 Predictions Correct; Only One Surprise; ~US$1.2bn One-Way
- The semiannual index rebal events of the NIFTY 50 index and NIFTY 100 index will take place in September 2025. The index changes were announced on Friday 22nd August 2025.
- There will be two changes for NIFTY 50 index and five changes to NIFTY 100.
- In this insight, we take a look at our final flow expectations.
Business Breakdown: Kovai Medical – A Regional Leader in a Growing National Market
- Kovai Medical is entering Chennai with a 300–400 bed facility, marking its first move beyond Coimbatore and strengthening its presence in a high-growth metro market.
- The medical college now contributes 7% of revenue, up from 3% in FY22, ensuring recurring cash flows and deeper clinical-academic integration.
- Consistent investments in advanced robotics and AI-driven systems enhance KMCH’s differentiation, positioning it to capture premium demand and medical tourism opportunities in Southern India.
CSL Ltd (CSL AU): Announces Job Cut and Vaccine Unit Spinout Amid Strong FY25 Financial Performance
- CSL Ltd (CSL AU) announced major strategic initiatives targeting annual pre-tax cost savings of >$500M by end of FY28. The initiatives will result in 15% reduction in CSL’s employee base.
- CSL intends to demerge CSL Seqirus as a substantial ASX-listed entity by FY26. The remaining CSL group will continue to have leading market positions in multiple rare and serious diseases.
- CSL reported on-target financial performance for FY25. The company has guided for FY26 revenue growth of 4–5% and NPATA (excluding non-recurring restructuring cost) of $3.45B–3.55B, up 7–10%.
Wave Of Director Acquisitions as Local Rally Takes a Breather
- Institutions were net sellers of Singapore stocks with a net outflow of S$53 million from August 15-21.
- ISOTeam secured S$22.5 million in new contracts, boosting its order book to S$181.1 million for 24 months.
- Q & M Dental Group raised S$130 million from a Multicurrency Debt Issuance Programme for organic expansion and M&A.
Charles River Laboratories: Initiation of Coverage- Leveraging Regulatory Wins – Will Flexibility Cement Its Market Leadership?
- Charles River Laboratories delivered a mixed financial performance in the second quarter of 2025, presenting some positive aspects alongside key challenges.
- The company experienced solid financial results, surpassing prior forecasts, primarily driven by impressive Discovery and Safety Assessment (DSA) outcomes.
- This segment benefited from strong bookings recorded in the first quarter, which provided significant momentum for the first half of the year.
VNRX: Management seeks to secure multiple licensing agreements in the human diagnostic space with the 1st one expected in 3Q 2025.
- Primary operational goal for 2025 is to enter into multiple licensing agreements for human diagnostic applications, e.g. cancer & sepsis, emulating the strategy employed with the Nu.Q Veterinary Canine Cancer Test In addition, within Nu.Q NETs pillar, the commercial strategy to utilize the CE Mark has brought on 11 hospital networks in Europe that are ordering and re-ordering Nu.Q products for human application The final validation of the Lung Cancer study being conducted at National Taiwan University is planned for completion in late-2025.
AZTR: Second Quarter Update
- 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).
CING: NDA Submitted
- Cingulate is developing its Precision Timed Release (PTR) technology to deliver ADHD medicines to improve onset & efficacy of previously approved products.
- It licensed rights to manufacturing a 3-layer tablet that releases dexmethylphenidate (CTx-1301) over the active day.
- CTx-1301 provides immediate onset, eliminates the need for a booster dose, reduces diversion & simplifies dosing among other benefits.
Ainos, Inc: AI Nose Gears Up for Large-Scale Commercialization in 2026
- The pivot from biotech to AI technology company. While still committed to advancing its VELDONA drug platform to commercialization, Ainos’ growth strategy is now primarily being driven by its AI Nose SmellTech platform.
- The pivot began in 2021 when Ainos acquired this AI Nose technology for initial deployment in healthcare settings.
- However, with other significant opportunities beckoning, it has since been positioned as a platform technology with a substantial runway beyond healthcare.
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