In today’s briefing:
- The Beat Ideas- Krsnaa Diagnostics: B2C & Asset Light Flavor
- Key Updates on Bicara Therapeutics IPO: ~$800M Valuation at the Midpoint and Strong Balance Sheet
- Akeso Biopharma Inc (9926 HK) – Something Beautiful Is Happening
- ARWR: PALISADE Phase 3 Results Published in NEJM
The Beat Ideas- Krsnaa Diagnostics: B2C & Asset Light Flavor
- Krsnaa Diagnostics (KRSNAA IN) expands into B2C, adds new pathology labs, and secures major government contracts for further growth.
- Growth in PPP and retail sectors, improved margins, and expanding service offerings solidify market leadership.
- Krsnaa’s aggressive expansion strategy and diversification indicate strong long-term growth potential with new B2C trajectory and Asset Light Model Expansion.
Key Updates on Bicara Therapeutics IPO: ~$800M Valuation at the Midpoint and Strong Balance Sheet
- Bicara Therapeutics unveiled the terms of its IPO: a clinical-stage biotech company offers ~11.8M shares at the price range of $16.00-$18.00, implying a market cap of ~$800M at the midpoint.
- Existing shareholders do not intend to sell shares in this offering and Bicara Therapeutics shares will list on the Nasdaq under the ticker symbol “BCAX”.
- The biotech company is focused on patients with HPV-negative head and neck cancer, and I view Bicara’s IPO valuation as attractive, with major catalysts coming up in 2025.
Akeso Biopharma Inc (9926 HK) – Something Beautiful Is Happening
- AK112’s HARMONi-2 results were impressive, but there’s still critical data gap before obtaining approval from FDA. The main concern is whether good PFS can be translated into significant OS benefits.
- Akeso will be eligible to receive low double-digit royalties on net sales from Summit. So, Summit is actually a better investment because it has complete global rights of AK112.
- Investors are betting Summit to be acquired by MNCs at a high price.Due to anti-monopoly issue, the narrowing pool of potential buyers would increase the difficulty of Summit being acquired.
ARWR: PALISADE Phase 3 Results Published in NEJM
- On September 2, 2024, Arrowhead Pharmaceuticals, Inc. (ARWR) announced results from the Phase 3 PALISADE study of plozasiran in patients with familial chylomicronemia syndrome (FCS).
- The trial met its primary endpoint and all key secondary endpoints, including statistically significant reductions in triglycerides (TGs), apolipoprotein C-III (APOC3), and the incidence of acute pancreatitis.
- The data were presented in a late-breaking oral presentation at the European Society of Cardiolog (ESG) Congress 2024 and simultaneously published in The New England Journal of Medicine.
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