In today’s briefing:
- Sai Life Sciences Pre-IPO Tearsheet
- Arrowhead Pharmaceuticals: Expansion of TRiM Platform and Entry into New Therapeutic Areas!
- Telix Pharmaceuticals (TLX AU): Fund Raising Via Convertible Debentures Amid Strong Business Outlook
- Pre-IPO TYK Medicines (PHIP Updates) – Some Points Worth the Attention
- BrainStorm Cell Therapeutics (BCLI) Update 23072024
- LEXX: GLP-1 Agonist Program Updates
Sai Life Sciences Pre-IPO Tearsheet
- SAI Life Sciences(SLS) is looking to raise up to US$500m in its upcoming India IPO. The deal will be run by Kotak, IIFL, Jefferies and MS.
- SLS is a CRDMO. It provides end-to-end services across the drug discovery, development and manufacturing value chain, for small molecule NCE to global pharmaceutical innovators and biotechnology firms
- As per Frost & Sullivan, SLS was the fastest-growing Indian CRDMOs among listed Indian peers in terms of revenue CAGR as well as EBITDA CAGR from FY22 to FY24.
Arrowhead Pharmaceuticals: Expansion of TRiM Platform and Entry into New Therapeutic Areas!
- Arrowhead Pharmaceuticals delivered a comprehensive update on its operational and financial developments for the fiscal second quarter ended March 31, 2024.
- A major focus for the company during this period has been its expanding presence in the cardiometabolic space, where substantial investments have been channeled to advance clinical and pre-commercial activities.
- In these endeavors, significant strides were made with plozasiran and zodasiran, their leading drug candidates designed to tackle diseases associated with lipid disorders.
Telix Pharmaceuticals (TLX AU): Fund Raising Via Convertible Debentures Amid Strong Business Outlook
- Telix Pharmaceuticals (TLX AU) is raising A$600M via convertible debentures to fund key clinical development programs across the company’s therapeutic and diagnostic portfolio.
- The convertible debentures, which are due to mature in 2029, will have annual yield between 2.00% and 2.75%. These will be listed on the Singapore Exchange.
- Riding on strong performance during the first half, Telix has raised full-year 2024 revenue guidance by nearly 10% at mid-point to $490M–510M (A$745M–776M), representing 48–54% YoY growth.
Pre-IPO TYK Medicines (PHIP Updates) – Some Points Worth the Attention
- TY-9591 has differentiated indication compared with the current listed third-generation EGFR-TKI, but it still depends on the final clinical results, which also bring more uncertainty to the commercialization performance.
- TYK’s development strategy requires it to invest heavily on head-to-head trials.Due to cash shortage, until TYK successfully addresses survival pressure,we recommend a more cautious assessment of pipeline prospects/future R&D arrangements.
- TYK is a “mediocre” company. The valuation (RMB3.08 billion) is based on optimistic expectations that core product will be successfully developed, become Me-Better, and commercialized smoothly.We’re, however, conservative about this.
BrainStorm Cell Therapeutics (BCLI) Update 23072024
- BrainStorm Cell Therapeutics Inc. (Nasdaq: BCLI) develops NurOwn® stem cell therapy for NDDs – BCLI’s first target is ALS (MND/Lou Gehrig’s).
- Since initiation – CMC FDA questions resolved, commercialization team in place, raised US$ 4m (gross) enabling PIIIb rollout start, signed a CRO and lined up a commercial manufacturer, shortening the BLA timeline.
- Whilst the US$ 4m raise and new warrants dilution effect has reduced our value range ~5%, it remains well above our >10x return investment hypothesis.
LEXX: GLP-1 Agonist Program Updates
- Lexaria is a biotechnology company seeking to enhance the bioavailability of multiple drug agents using DehydraTECH (DHT), its technology using oral and topical delivery.
- It combines lipophilic APIs with specific fatty acid and carrier compounds followed by dehydration.
- DHT offers several attractive features: substantial improvement in bioabsorption in terms of time to measurable plasma levels & AUC, brain permeation, taste masking & side effect reduction.
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