In today’s briefing:
- Eoflow: European Court Dismisses Injunction Filed by Insulet
- Ascentage Pharma (6855.HK) – The Future Valuation Leap Is Worth Looking Forward To
- IMNN: Comes to Alignment with FDA Regarding Phase 3 Protocol for IMNN-001
- MNOV: Monetary Damages Due Following Sanofi/Novartis Patent Dispute Settlement
- SK Biopharmaceuticals (326030 KS): Sequential Profit Decline in 3Q; Long-Term Growth Prospect Intact
Eoflow: European Court Dismisses Injunction Filed by Insulet
- A European Court dismissed the injunction application filed by Insulet for overseas intellectual property rights infringement which would allow Eoflow to start selling its EoPatch products in Europe.
- Eoflow is trying to complete a rights offering in December 2024. The expected rights offering price is 4,235 won (27% lower than current price).
- Although results of the main lawsuit in the US remain undecided, with the UPC’s decision in favor of Eoflow, the legal sentiment on this case is in favor of Eoflow.
Ascentage Pharma (6855.HK) – The Future Valuation Leap Is Worth Looking Forward To
- For full-year 2024, sales of olverembatinib is expected to reach about RMB240 million, and there is a possibility of exceeding expectations. RMB500 million sales of olverembatinib is expected in 2025.
- Market value of US$1.25 – 1.9 billion is reasonable range for Ascentage if just considering olverembatinib alone. The peak sales of APG-2575 is expected to surpass olverembatinib in overseas markets.
- The next big catalyst is the potential licensing cooperation with MNCs for APG-2575, if reaches, would push Ascentage’s market value to surpass HUTCHMED, as prospects of APG-2575 is basically guaranteed.
IMNN: Comes to Alignment with FDA Regarding Phase 3 Protocol for IMNN-001
- On November 25, 2024, Imunon, Inc. (IMNN) announced it had reached alignment with the U.S. Food and Drug Administration (FDA) on its proposed plan for a Phase 3 trial of IMNN-001 for the treatment of advanced ovarian cancer.
- This includes the overall trial design, the target patient population, the treatment schedule, and the primarly endpoint.
- The finalized protocol is on track to be submitted in December 2024 and we anticipate the 500-patient Phase 3 trial initiating in the first quarter of 2025.
MNOV: Monetary Damages Due Following Sanofi/Novartis Patent Dispute Settlement
- On November 11, 2024, MediciNova, Inc. (MNOV) announced that it was notified by Genzyme, a subsidiary of Sanofi, that the Sanofi/Novartis litigation was settled.
- While the details are unknown at this time, Medicinova is entitled to receive a certain portion of any monetary damages collected by Genzyme.
- We anticipate an update from the company when further details are available.
SK Biopharmaceuticals (326030 KS): Sequential Profit Decline in 3Q; Long-Term Growth Prospect Intact
- SK Biopharmaceuticals (326030 KS) announced 3Q24 result, with record high U.S. revenue and four consecutive quarters of profit. Slower U.S. growth and sequential decline in operating profit remained key negatives.
- Xcopri continued its rapid growth in the U.S. SKBP expects to achieve the higher end of 2024 U.S. sales guidance of $300–320M, indicating 4Q24 revenue of $91M, 9% QoQ.
- Through operating leverage, the company is on track to achieve first annual profit. We think the reaction to 3Q24 result is overdone, with limited downside expected.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
