In today’s briefing:
- Mandi Inc Pre IPO: Hair Will Help Carry Weight to Future Growth, Pipeline Key
- Friday Take Away: 21 November 2025
- Lumexa Imaging Holdings, Inc. (LMRI): Peeking at the IPO Prospectus of a Diagnostic Imaging Service
- 2026 High Conviction: Sumitomo Pharma (4506 JP) – Enzomenib Progress and Reboot Strategy Hold Key
Mandi Inc Pre IPO: Hair Will Help Carry Weight to Future Growth, Pipeline Key
- Mandi has filed for a Hongkong IPO. The company which at present operates as a subsidiary of 3SBio Inc will be spun off and separately listed.
- Mandi intends to use the IPO proceeds for funding product expansion, enhance early-stage R&D capabilities, invest in sales and marketing initiatives and, for working capital and general corporate purposes.
- Minoxidil will be the main growth catalyst for now cashing on its leadership position while accelerating the development and commercialization of the pipeline assets will be key for future growth.
Friday Take Away: 21 November 2025
- Futura Medical specialises in the development and commercialisation of innovative sexual health products.
- The lead product is Eroxon, which is a clinically proven treatment for erectile dysfunction.
- In November 2025, £2.75m was raised at 1p and the shares are down from a 52 week high of 34p.
Lumexa Imaging Holdings, Inc. (LMRI): Peeking at the IPO Prospectus of a Diagnostic Imaging Service
- Lumexa Imaging, one of the nation’s largest outpatient imaging providers, could join the limited group of IPOs expected to debut in December 2025.
- The company operates 184 centers across 13 states, benefiting from strong population growth markets and a broad, diversified referring-physician network.
- Backed by WCAS and supported by scalable technology and growing advanced imaging demand, Lumexa shows steady revenue momentum ahead of a potential year-end IPO.
2026 High Conviction: Sumitomo Pharma (4506 JP) – Enzomenib Progress and Reboot Strategy Hold Key
- Sumitomo Pharma (4506 JP) will present updated clinical trial data of Enzomenib (for AML) and Nuvisertib (for Meylofibrosis). Both drug candidates hold strong future potential.
- The company revised FY26 revenue guidance upward to ¥429B backed by continued strong sales in North America (+56% to ¥163B). Orgovyx witnessed solid patient growth while Gemtesa improved market share.
- After largely remaining beaten down in the past few years Sumitomo stock has only begun to gain momentum in recent past. We feel it has still got an upside potential.
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