In today’s briefing:
- S&P/ASX Index Rebalance Preview: Lots of Change; Could Be More with Sigma/CWG Merger
- Quiddity Leaderboard Hang Seng Index: Healthcare Is Still the Most Under-Represented Industry Group
- SSI 2024 Review: Strategic Refinements, Key Investment Updates, and Performance Insights
- Kaken Pharmaceutical (4521 JP): Johnson Deal Is Good For Future, But For Now Bleak H2 Ahead
- BCLI: Plans Coming Together for Phase 3b Trial of NurOwn in ALS
S&P/ASX Index Rebalance Preview: Lots of Change; Could Be More with Sigma/CWG Merger
- Nearing the end of the review period, there could be 36 adds/deletes across the S&P/ASX family of indices in March.
- Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to the S&P/ASX 200 and S&P/ASX 300.
- Completion of the merger with Chemist Warehouse in February will set off huge passive buying in Sigma Healthcare (SIG AU) over the February to June period.
Quiddity Leaderboard Hang Seng Index: Healthcare Is Still the Most Under-Represented Industry Group
- The Hang Seng Index is the benchmark index for Hong Kong stocks. It follows a highly-subjective selection process which makes it difficult to predict index changes.
- In this insight, we take a look at a group of names with reasonably high likelihood of being involved in index changes during the next review in March 2025.
- The index changes for the March 2025 index rebal event will be announced after market close on 21st February 2025.
SSI 2024 Review: Strategic Refinements, Key Investment Updates, and Performance Insights
- SSI’s 2024 Tracking Portfolio saw a 1% loss, prompting a refined categorization of investment ideas for 2025.
- Kronos Bio terminated its Genentech partnership, impacting NAV estimates and suggesting potential sale or reverse merger.
- Pacific Current Group announced a buyback proxy, with shareholder meeting set for January 30, impacting NAV estimates.
Kaken Pharmaceutical (4521 JP): Johnson Deal Is Good For Future, But For Now Bleak H2 Ahead
- Kaken Pharmaceutical (4521 JP) enters into a license agreement with J&J for the global development, manufacturing, and commercialization of a STAT6 program, which is being developed by Kaken.
- Kaken will advance KP-723 to the completion of Phase I clinical trials, after which J&J will take over. Kaken will receive an upfront payment of $30M from J&J.
- The deal is a boost for future revenue flow but offers no near-term respite for revenue loss from NHI drug price revision and generic competition for top selling products.
BCLI: Plans Coming Together for Phase 3b Trial of NurOwn in ALS
- On December 30, 2024, BrainStorm Cell Therapeutics, Inc. (BCLI) held a conference call to provide a corporate update.
- The company remains on track to conduct a Phase 3b trial of NurOwn in patients with amyotrophic lateral sclerosis (ALS) to support a potential Biologics License Application (BLA) filing.
- During 2024, BrainStorm reached agreement with the FDA on a Special Protocol Assessment (SPA) and the CMC aspects of the upcoming trial, which significantly de-risks the regulatory aspects of the program.
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