Daily Brief Health Care: Regencell Bioscience Holdings, Paramount Bed Holdings Co Lt, Dogwood Therapeutics, Ensign Group, Fresenius Medical Care & , Immix Biopharma Inc and more

• This Nasdaq-listed, Hong Kong-based company hopes to apply Traditional Chinese Medicine (TCM) to significant illnesses like ADHD, but that seems unlikely. The company is a family affair, with all research provided by the CEO’s father, so one wonders how objective scientific assessment can be.
• The stock surged by more than 700% in a month without patent approval, a buyout offer, or other notable news. The CEO funded a share buyback, but rather than demonstrating faith in the company, the repurchase looked suspiciously like a way to inflate the short-term share price, possibly for an equity issue or insider self- enrichment since the CEO’s compensation is tied to market capitalization.
• This is a highly speculative business run by a family team from Hong Kong, thus little trusted in the U.S. and very volatile.

• During 9MFY25, Paramount Bed Holdings Co Lt (7817 JP) reported 3% YoY revenue growth to ¥75B, mainly driven by the nursing care businesses.
• Due to higher SG&A expenses, operating profit decreased 15% YoY to ¥7.2B and net profit was down 11% YoY to ¥5.9B.
• Paramount Bed has reiterated FY25 guidance, which calls for 2% YoY revenue growth, while higher SG&A is expected to erode operating profit by almost 6% YoY.

• CytoSorbents is commercializing its E.U. approved CytoSorb blood purification technology to treat life-threatening conditions in the intensive care unit and cardiac surgery.
• The company also seeks U.S. and Canadian approval of a second product, DrugSorb-ATR, to reduce perioperative bleeding risk in patients on blood thinners during cardiac surgery.
• Based on the results of its pivotal U.S. and Canadian STAR-T trial, the company submitted for FDA De Novo approval on September 27, 2024, and Health Canada on November 1, 2024, with regulatory decisions expected in 2025.

• CytoSorbents is commercializing its E.U. approved CytoSorb blood purification technology to treat life-threatening conditions in the intensive care unit and cardiac surgery.
• The company also seeks U.S. and Canadian approval of a second product, DrugSorb-ATR, to reduce perioperative bleeding risk in patients on blood thinners during cardiac surgery.
• Based on the results of its pivotal U.S. and Canadian STAR-T trial, the company submitted for FDA De Novo approval on September 27, 2024, and Health Canada on November 1, 2024, with regulatory decisions expected in 2025.

• On March 31, 2025, Dogwood Therapeutics, Inc. announced financial results for 2024 and provided a business update.
• The company recently dosed the first patient in the Halneuron Chemotherapy Induced Neuropathic Pain (CINP) Phase 2b trial.
• We anticipate interim data in the fourth quarter of 2025.

• On March 31, 2025, Dogwood Therapeutics, Inc. announced financial results for 2024 and provided a business update.
• The company recently dosed the first patient in the Halneuron Chemotherapy Induced Neuropathic Pain (CINP) Phase 2b trial.
• We anticipate interim data in the fourth quarter of 2025.

• The Ensign Group’s recent quarterly earnings presents a comprehensive picture of the company’s operational and financial performance, accompanied by strategic insights for future growth.
• Here’s an investment thesis and results summary reflecting both the positive aspects and potential challenges.
• The company’s performance highlights strong operational momentum characterized by record clinical and financial results.

• Fresenius Medical Care (FMC) reported its fourth-quarter 2024 financial results, showcasing both achievements and areas needing attention as the company continues its strategic transformation.
• The results reflect a period of organizational change and progress, with tangible financial improvements but also challenges that persist.
• Beginning with the positives, FMC reported a notable 7.4% organic revenue growth in the fourth quarter, driven by both its Care Delivery and Care Enablement segments.

Immix’s FY24 results summarize a period of focus on its lead CAR-T asset, NXC-201, which is being developed for amyloid light chain amyloidosis. Recent newsflow reflects heightened clinical activity for the candidate as it progresses through the US-based Phase Ib/II NEXICART-2 clinical trial. Notably, following completion of the six-patient safety run-in portion of the study, the pace of enrolment has picked up for participants to be treated at the higher of the two tested doses; we expect the next interim data update in mid-2025. NXC-201 was granted regenerative medicine advanced therapy (RMAT) designation by the FDA, which may streamline its clinical development and subsequent approval process. We expect period-end net cash of $17.7m to provide a runaway into Q425, past interim readouts for NXC-201. Our valuation is largely unchanged at $126.3m or $4.6/share.

Immix’s FY24 results summarize a period of focus on its lead CAR-T asset, NXC-201, which is being developed for amyloid light chain amyloidosis. Recent newsflow reflects heightened clinical activity for the candidate as it progresses through the US-based Phase Ib/II NEXICART-2 clinical trial. Notably, following completion of the six-patient safety run-in portion of the study, the pace of enrolment has picked up for participants to be treated at the higher of the two tested doses; we expect the next interim data update in mid-2025. NXC-201 was granted regenerative medicine advanced therapy (RMAT) designation by the FDA, which may streamline its clinical development and subsequent approval process. We expect period-end net cash of $17.7m to provide a runaway into Q425, past interim readouts for NXC-201. Our valuation is largely unchanged at $126.3m or $4.6/share.