In today’s briefing:
- Duality Biotherapeutics (映恩生物) IPO: Valuation Upside at Risk
- S&P 500 and Nasdaq 100 Testing Prior 2022 Highs; Still Bearish and Cautious
- Eli Lilly and Co: Mounjaro & Zepbound Catalyzing Growth, But Challenges Linger!
- LGMK: Potential Revenue Catalysts: GSA Approval, Medicaid Waivers, Device Upgrades
- Park Medi World Pre-IPO Tearsheet
Duality Biotherapeutics (映恩生物) IPO: Valuation Upside at Risk
- Duality, a China-based clinical-stage biotechnology company, launched its IPO to raise up to US$200m via a Hong Kong listing.
- We look at the deal dynamics and latest developments in the biotech sector.
- The deal initially presented upside for investors but there’s a portion of its valuation now at risk due to the latest development.
S&P 500 and Nasdaq 100 Testing Prior 2022 Highs; Still Bearish and Cautious
- Since late-February (2/25/25 Compass) we expected an 8-10% pullback to provide a buying opportunity. But that all changed in last week’s Compass (4/1/25), when we downgraded our outlook to bearish/cautious.
- A historic selloff has ensued and significant damage has been done as market dynamics have worsened.
- Until we see some base-building process develop alongside improving market dynamics, we remain cautious and we continue to favor defensives as long as the SPX is below its 200-day MA.
Eli Lilly and Co: Mounjaro & Zepbound Catalyzing Growth, But Challenges Linger!
- Eli Lilly and Company reported strong growth and progress during its fourth quarter and full fiscal year 2024 results.
- The company saw a significant increase in revenue, primarily driven by notable sales of its new products, including Mounjaro and Zepbound, which contributed significantly to an impressive 45% increase in quarterly revenue and a 32% increase for the full year.
- The company benefited from the successful momentum of various newly launched medications across multiple regions, including impressive uptake in European markets.
LGMK: Potential Revenue Catalysts: GSA Approval, Medicaid Waivers, Device Upgrades
- The company launched the next-gen of the Guardian Alert 911 Plus in February.
- The update integrates advanced fall detection and eliminates recurring monthly subscriptions.
- The updated device offers 4G LTE technology combined with fall detection in a more compact form.
Park Medi World Pre-IPO Tearsheet
- Park Medi World (1605334D IN) is looking to raise at least US$147m in its upcoming India IPO. The deal will be run by Nuvama, CLSA, DAM Capital and Intensive FS.
- It is the second largest private hospital chain in North India, with an aggregate bed capacity of 3,000 beds.
- It the largest private hospital chain in terms of bed capacity in Haryana with 1,600 beds located in the state as of 1H25.
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