In today’s briefing:
- China Medical System (867 HK) – A Wise Choice in a Bear Market
- Concord Biotech’s US$650m Lock-Up Expiry – Some Could Be Tempted to Book Multi-Bagger Gains
- Prota raises US$21M led by Singapore’s SPRIM for its peanut allergy therapy | e27
- ResMed Inc: Potential expansion of sleep awareness and population health management strategies to boost growth! – Major Drivers
China Medical System (867 HK) – A Wise Choice in a Bear Market
- CMS’s way of in-licensing products has shifted from CSO model to asset-purchase model so as to enhance control on the assets. But the transformation hasn’t been recognized by the market.
- Despite outstanding fundamentals, CMS’s valuation remains low. Doubts about the Company’s real R&D capabilities/core competitiveness and the negative image due to past financial fraud could be the reasons.
- CMS would encounter performance headwinds in 2023/2024 due to VBP, but revenue/profit growth is expected to pick up in 2025. It’s still a good defensive choice in a bear market.
Concord Biotech’s US$650m Lock-Up Expiry – Some Could Be Tempted to Book Multi-Bagger Gains
- Concord Biotech Ltd (658823Z IN) listed in India on 18th Aug 23 after raising US$188m. The IPO had been a 100% secondary selldown with Helix Investment selling its entire stake.
- Concord Biotech (Concord) is an India-based biopharma firm, which develops and manufactures fermentation-based active pharmaceutical ingredients (APIs).
- Coming up for six-month lockup expiry on 7th Feb 24 are the firm’s pre-IPO shareholders, along with a portion of its promoters’ stake.
Prota raises US$21M led by Singapore’s SPRIM for its peanut allergy therapy | e27
- Singapore-based health sciences VC firm SPRIM Global Investments has led the US$21 million funding round (equity and debt) of Australian biotech firm Prota Therapeutics.
- The fresh funding will be used to advance the development of Prota’s peanut allergy remission oral therapy, PRT120, which is being prepared for the phase 3 clinical investigation.
- The new investment will advance the chemistry, manufacturing, and controls (CMC), accelerate the path to an investigational new drug application (IND), and expand Prota’s executive management team to bring on board critical expertise in late-stage drug development and commercialisation.
ResMed Inc: Potential expansion of sleep awareness and population health management strategies to boost growth! – Major Drivers
- In the Q2 FY2024 earnings for ResMed, the company registered strong execution across its entire business, reflecting in double-digit top and bottom-line growth.
- The results were primarily driven by double-digit global growth in both devices and its Software as a Service (SaaS) business.
- ResMed is addressing a significant problem considering there are over 2 billion people worldwide suffering from sleep apnea, chronic obstructive pulmonary disease, respiratory insufficiency resulting from neuromuscular disease, or insomnia.
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