In today’s briefing:
- Caris Life Sciences, Inc. (CAI): VC-Backed AI TechBio Company Seeks $5b+ IPO Valuation
- Cybin, Inc: The Strategic Approach to Formulating a Successful CYB003 Launch
- Pre-IPO Medtide (PHIP Updates) – Some Points Worth the Attention
- The Broader Beat: Market Movers Beyond the Benchmark
- Shilpa Medicare: Strong FY25, FDF and Biologics, Focus on Asset Monetisation
- Sino Biopharmaceutical (1177 HK): Trial Result To Pave Label Expansion in Larger Patient Population
- Trellus Health Plc – Hybridan Small Cap Feast: 02/06/2025
- Ongoing Share Purchases by Dr Ng in Q&M
Caris Life Sciences, Inc. (CAI): VC-Backed AI TechBio Company Seeks $5b+ IPO Valuation
- The company will be offering 23.5mm shares at a $16-$18 range equating to a market cap of $4.8b-$5.35b.
- The deal is anticipated to price on Tuesday (6/17) for a Wednesday (6/18) debut on the Nasdaq.
- This company is backed by some of the strongest biotech-VC firms in the game. It is our opinion that this IPO is “likely” to be well-received.
Cybin, Inc: The Strategic Approach to Formulating a Successful CYB003 Launch
- Interventional psychiatry clinic landscape evolving for the better.
- The interventional psychiatry landscape has significantly evolved over the past five years, with the emergence of ~5,000 clinics or mental health centers offering a range of services to patients from ECT and TMS to esketamine and regular ketamine.
- From Cybin’s interactions with these centers, they appear to be well prepared for potential dosing and treatment with psychedelics like Cybin’s CYB003 as they come to market.
Pre-IPO Medtide (PHIP Updates) – Some Points Worth the Attention
- The sales growth of GLP-1s has entered a turning point. The actual market size of GLP-1s could be much lower-than-expected, which would affected the growth outlook of peptide CXOs.
- Medtide is not strong as expected in the peptide CXOs industry. There’s a “hidden problem” in terms of the market share ranking. We updated our forecast for the next three years.
- Considering geopolitical conflicts/intense competition, it’s difficult for Medtide to secure orders from industry leaders when the Company lacks competitiveness and are small in scale. Valuation should be lower than peers.
The Broader Beat: Market Movers Beyond the Benchmark
- The STI generated a 6.5% total return for 2025 to June 6, with an annualised return of 8.5%.
- SIA Engineering and Singapore Land Group achieved highest gains among non-STI stocks with market capitalisation above S$3 billion.
- Sheng Siong Group reported a 15% total return for 2025 to June 6, with increased revenue and net profit.
Shilpa Medicare: Strong FY25, FDF and Biologics, Focus on Asset Monetisation
- Shilpa’s FY 25 revenue +13 %, EBITDA margin 26 %, EU-GMP clearances, key FDF launches and stronger biologics/CDMO orders mark a decisive operational step-up.
- Growth now rests on differentiated, limited-competition products and biologics CDMO, promising steadier earnings and less reliance on lumpy one-off licensing fees.
- Improved asset utilisation, regulatory wins and visible pipeline recast Shilpa from a cyclical API player into a diversified, higher-margin specialty-biologics growth story.
Sino Biopharmaceutical (1177 HK): Trial Result To Pave Label Expansion in Larger Patient Population
- Sino Biopharmaceutical (1177 HK) presented encouraging data readouts from three lung cancer trials for its innovative drug benmelstobart at the 2025 American Society of Clinical Oncology Annual Meeting last week.
- Although China’s PD-1 space is already overcrowded, superior clinical efficacy of benmelstobart as depicted by head-on-head trial with key approved drugs (Keytruda, Tevimra) enhance conviction on its market uptake potential.
- The company expects to have more than 30 marketed innovative products by 2027, with revenue from innovative products accounting for over 55% of total revenue.
Trellus Health Plc – Hybridan Small Cap Feast: 02/06/2025
- Our daily digest of news from UK Small Caps 2nd June 2025 @HybridanLLP * A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) or similar announcement has been made ***Arranged by type of listing and date of announcement ****Alphabetically arranged Dish of the day Admissions: Following its demerger from Anglo American, Valterra Platinum (VALT.L) announces that its entire issued share capital has today been admitted to the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List and to trading on the London Stock Exchange’s Main Market.
- Delistings: Enteq Technologies has left AIM.
- What’s baking in the oven?
Ongoing Share Purchases by Dr Ng in Q&M
- Institutions were net sellers of Singapore stocks with a S$32 million outflow, totaling S$1.76 billion year-to-date.
- 19 companies conducted share buybacks totaling S$46 million; City Developments announced a 10% preference share buyback.
- Directors and CEOs filed 13 acquisitions with no disposals; substantial shareholders filed 11 acquisitions and five disposals.
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