In today’s briefing:
- FnGuide Top 10 & Equal Weight Index Rebalance Preview: Outperformance Continues
- Omada Health (OMDA): Virtual Healthcare Provider Gains IPO Momentum Behind Success of Peer
- Kitazato Pre-IPO – Past Sales Have Been Steady but Slowing
- AbbVie’s Bold Obesity Play Could Up Its Game In The GLP-1 Domain—Here’s What You Need to Know!
- NATCO Pharma Limited: Record Year Performance Overshadowed by Cautious FY26 Outlook
- How Edwards Lifesciences Is Breaking Barriers in Valve Replacement with M3 & EVOQUE!
- Independent Director Chua Kee Lock Acquires Venture Shares on Open Market
- NRXBF: Raising Price Target on Trial Announcement
- Classys (214150 KS): Solid Start to 2025; Global Expansion Continues; Stake Sale Overhang to Remain
- PolyPid Ltd – Assessing & Advancing Lead Candidate
FnGuide Top 10 & Equal Weight Index Rebalance Preview: Outperformance Continues
- There could be 2 changes for the FnGuide Top 10 Index and 1 change for the FnGuide Top 10 Equal Weight Index in June.
- There will be capping inflows for Samsung Electronics (005930 KS), capping outflows for SK Hynix (000660 KS) and funding outflows for the other index constituents.
- A long adds/ short deletes trade has performed well historically for the FnGuide Top 10 Index with positive performance till implementation followed by reversion post implementation in most cases.
Omada Health (OMDA): Virtual Healthcare Provider Gains IPO Momentum Behind Success of Peer
- The valuation of the company based on Q1 2025 revenues is between 5-6x sales which we find attractive versus peers.
- Revenue increased by 57% from $35.1 million to $55.0 million for the three months ended March 31, 2024 and 2025, respectively.
- After a handful of days of marketing the IPO, we are hearing from our sources that the books are multiple-times oversubscribed.
Kitazato Pre-IPO – Past Sales Have Been Steady but Slowing
- Kitazato (368A JP) manufactures and sells medical devices and products for fertility treatment. It aims to raise around US$120m in its Japan IPO.
- Kitazato specializes in artificial insemination, in vitro fertilization, cell cryopreservation and reproductive engineering technologies in regenerative medicine.
- In this note, we look at its past performance and other deal dynamics that might impact the listing.
AbbVie’s Bold Obesity Play Could Up Its Game In The GLP-1 Domain—Here’s What You Need to Know!
- AbbVie Inc. recently reported its results for the first quarter of 2025, showcasing strong performance across various therapeutic areas.
- The company’s adjusted earnings per share were $2.46, surpassing the guidance midpoint by $0.10.
- Total net revenues stood at over $13.3 billion, a remarkable increase of roughly $550 million beyond expectations.
NATCO Pharma Limited: Record Year Performance Overshadowed by Cautious FY26 Outlook
- Natco Pharma (NTCPH IN) achieved record consolidated revenue and profits in FY25 and holds a strong cash position over INR 3,500 crore.
- However, the company estimates a significant potential dip in revenue (20%) and profits (30%) for FY26 due to US market pressures and high R&D spend.
- This signals near-term headwinds, while long-term growth remains tied to pipeline progress, particularly Semaglutide and Resplan launches in India, and strategic acquisitions.
How Edwards Lifesciences Is Breaking Barriers in Valve Replacement with M3 & EVOQUE!
- Edwards Lifesciences Corporation reported a solid performance for the first quarter of 2025, with total company sales reaching $1.41 billion, which indicates an 8% growth.
- This growth reflects the company’s continued commitment to innovation in the field of structural heart disease, bolstered by its diverse product portfolio.
- The Transcatheter Aortic Valve Replacement (TAVR) segment, with sales of $1.05 billion, experienced growth of 5.4% year-over-year.
Independent Director Chua Kee Lock Acquires Venture Shares on Open Market
- Institutions were net sellers of Singapore stocks with a S$2 million outflow, totaling S$1.73 billion for 2025.
- Telecommunications and REITs saw highest net outflows; Financial Services and Industrials experienced significant net inflows.
- 18 companies conducted share buybacks totaling S$45 million; Hongkong Land repurchased 1,563,300 shares at US$5.24 each.
NRXBF: Raising Price Target on Trial Announcement
- NurExone (OTC-NRXBF) is a preclinical stage biotech company that is developing a breakthrough treatment for spinal cord injuries that has the potential to dramatically improve lives.
- The technology involved also has the potential to more efficiently get other treatments to the needed area.
- The company announced that it plans to initiate a Phase 1/2a clinical trial on acute spinal cord injuries for ExoPTEN in 2026.
Classys (214150 KS): Solid Start to 2025; Global Expansion Continues; Stake Sale Overhang to Remain
- Classys (214150 KS) reported stellar performance for 1Q25, with record-high quarterly sales and operating profit. 1Q25 revenue grew 53% YoY to KRW77B, while operating profit increased 46% YoY to KRW39B.
- Recently, Volnewmer got approval in Europe. Ultraformer MPT is expected to obtain European approval in July. Next-generation new product launch in the domestic market is expected in July.
- Classys reaffirmed 2025 revenue guidance of KRW340–360B, up 39–48% YoY. Bain Capital’s recent stake sales in the company via a discounted block deal raises concern.
PolyPid Ltd – Assessing & Advancing Lead Candidate
- Zacks Small-Cap Research Note for PolyPid Ltd. (PYPD)
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