In today’s briefing:
- Post Demerger Outlook: OneSource Specialty Pharma- India’s First Multi-Modality CDMO
- Kestra Medical Technologies (KMTS): Medical Device IPO Story Easy to Digest Amidst Market Volatility
- BeiGene (6160 HK): Brukinsa Outpaces Competitor in 4Q US Sales; Solid Guidance for 2025
- IMNN: Phase 3 Ovarian Cancer Trial to get Underway in Mar 2025
- LNTH: 2025 Guidance Provided
Post Demerger Outlook: OneSource Specialty Pharma- India’s First Multi-Modality CDMO
- Onesource Specialty Pharma (ONESOURC IN) has transitioned from a niche player to a multi-modality CDMO powerhouse through strategic restructuring, rapid revenue expansion, and aggressive capacity building.
- With a projected INR1,400 crore revenue in FY25 (INR173 crore in FY24) and shifting from MSA to CSA contracts, OS is stabilizing its revenue model, tapping into high-growth segments.
- By leveraging a first-mover advantage in GLP-1, regulatory strength, and a $100 million capex plan, OS is positioning itself to become a billion-dollar global CDMO leader within the next 3-4Yrs.
Kestra Medical Technologies (KMTS): Medical Device IPO Story Easy to Digest Amidst Market Volatility
- Wearable defibrillator maker, Kestra Medical Technologies (KMTS US) is set to debut on Thursday (3/6) seeking a cash raise of up to $160 million and a valuation between $667m-$762.
- The deal is considered well-oversubscribed from continued 1-on-1 conversions and high-quality engagements.
- Given the financials and sector in which this company operates in and the strong backing (Bain Capital), we continue to believe this IPO will be well-received despite any market volatility.
BeiGene (6160 HK): Brukinsa Outpaces Competitor in 4Q US Sales; Solid Guidance for 2025
- In 4Q24, BeiGene (6160 HK) reported U.S. sales of Brukinsa of $616M, up 97% YoY and 22% QoQ, with 60%+ of demand growth coming from expanded use in CLL.
- Brukinsa holds 25% market share in new patient starts in the U.S. in CLL, followed by Calquence (20%). For the first time, Brukinsa’s quarterly U.S. revenue outpaced that of Calquence.
- Beigene has guided for 2025 revenue of $4.9–5.3B (up 29–39% YoY), driven by Brukinsa’s U.S. leadership position and continued global expansion in both Europe and other markets.
IMNN: Phase 3 Ovarian Cancer Trial to get Underway in Mar 2025
- On February 27, 2025, Imunon, Inc. (IMNN) announced financial results for 2024 and provided a business update.
- The company is currently finishing preparations to conduct a Phase 3 clinical trial of its lead development compound, IMNN-001, in the treatment of advanced ovarian cancer.
- We anticipate the 500-patient trial will initiate before the end of the first quarter of 2025.
LNTH: 2025 Guidance Provided
- Lantheus is a leader in radiopharmaceutical offerings in oncology & precision diagnostics.
- It offers a portfolio of diagnostic & therapeutic products directly & via partnerships & licensing.
- The primary revenue driver is Pylarify, a PET tracer for PSMA-expressing prostate cancer.
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