In today’s briefing:
- QingSong Health Corporation – Pain Points of the Business Model and the Outlook
- Asahi Intecc (7747 JP): Softer H2 Expected; Positive Long-Term Outlook Amid Tariff Noises
- Biogen, Inc: Breakthrough Drug Developer in Reset Mode; Initiating Coverage
- CVKD: Preparing for Phase 3 Trial of Tecarfarin
- HealthEquity Is Doubling Down on Growth Through Acquisitions—Can This Bold Move Avoid a Costly Misfire?
- MTVA: Phase 1 Part 2 Data for DA-1726 in Obesity Expected Soon
QingSong Health Corporation – Pain Points of the Business Model and the Outlook
- The business model of QingSong is a platform offering comprehensive healthcare services and tailored financial resources. By connecting different stakeholders, QingSong can monetize its user base, creating a virtuous cycle.
- Qingsong’s revenue structure has undergone significant changes. However, if Qingsong’s future business focus is on Qingsong Healthcare services, it may be difficult to generate large-scale profits in the end.
- Listed insurance intermediary platforms have been in the shadow of a decline in stock prices. So, there is concerns that future share price performance of QingSong may not be optimistic.
Asahi Intecc (7747 JP): Softer H2 Expected; Positive Long-Term Outlook Amid Tariff Noises
- Asahi Intecc (7747 JP) announced double-digit growth across all the key parameters in H1FY25. Market share expansion of medical division and favorable Fx drove growth.
- Reiteration of FY25 guidance implies a softer H2 performance. In H2FY25, revenue is expected to increase 4% YoY, while both operating and net profit are likely to decline.
- The U.S. contributes ~20% of medical division’s revenue of Asahi Intecc, which is lower than other large Japanese medtech companies. This should limit tariff exposure.
Biogen, Inc: Breakthrough Drug Developer in Reset Mode; Initiating Coverage
- Biogen built its reputation on a differentiated modality-agnostic approach to drug development, deploying innovative technologies to address complex and intractable diseases.
- This innovative approach yielded the company’s golden era, which lasted ~20 years from the mid- 1990s to 2017. During this period, Biogen enjoyed near unrivaled leadership in the disease-modifying treatment of multiple sclerosis (MS).
- But the adage of ‘all good things must come to an end’ could not be more of a truism for the company, as genericization and the entry of more efficacious next-generation treatments began to erode revenue from its MS franchise.
CVKD: Preparing for Phase 3 Trial of Tecarfarin
- On March 13, 2025, Cadrenal Therapeutics, Inc. (CVKD) announced financial results for 2024 and provided a business update.
- The company has been laying the groundwork for a Phase 3 trial of tecarfarin in patients with left ventricular assist devices (LVAD).
- In support of this, Cadrenal recently announced a collaboration agreement with Abbott to support the planned TECarfarin Anticoagulation and Hemocompatibility with Left Ventricular Assist Devices (TECH-LVAD) trial.
HealthEquity Is Doubling Down on Growth Through Acquisitions—Can This Bold Move Avoid a Costly Misfire?
- HealthEquity Inc. has reported its financial results for the fourth quarter and full fiscal year 2025, showing significant growth and strategic developments.
- The company, known for managing health savings accounts (HSAs), achieved robust year-over-year growth across pivotal metrics.
- Revenue increased by 19% to $1.2 billion for the full fiscal year, with a notable 20% uptick from the previous year.
MTVA: Phase 1 Part 2 Data for DA-1726 in Obesity Expected Soon
- On March 20, 2025, MetaVia Inc. (MTVA) announced financial results for 2024 and provided a business update.
- We anticipate topline results from the multiple ascending dose (MAD) Part 2 of the Phase 1 trial of DA-1726 to be reported in April 2025.
- DA-1726 is the company’s novel dual oxyntomodulin analog that functions as a dual glucagon-like peptide-1 receptor (GLP1R) and glucagon receptor (GCGR) agonist.
💡 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
