In today’s briefing:
- KRX’s Official Selection Results of SSF & SSO Adds/Deletes: New Rules & Trading Ramifications
- CSI300 Index Rebalance Preview: Early Look at Potential Changes in December
- Gracell Biotechnologies Inc (GRCL.US) – May Fail to Solve the Real Pain Points in CAR-T Field
- Sanofi (SAN FP): It Is Not Just Only Dupixent; New Drugs and Vaccine Launches to Augment Growth
KRX’s Official Selection Results of SSF & SSO Adds/Deletes: New Rules & Trading Ramifications
- The latest update will feature the addition of 25 single stock futures, as well as five single stock options from KOSPI. Eight single stock futures will be removed.
- The selection will now take place twice a year, in March and September. Also, the selection requirement includes being included in the KOSPI 200 and KOSDAQ Global.
- The shortened selection cycle and the significant potential for the change range to vary based on index review results can indeed have a notable impact.
CSI300 Index Rebalance Preview: Early Look at Potential Changes in December
- Two thirds of the way through the review period, we see 14 potential index changes at the December rebalance that will be implemented at the close on 8 December.
- We estimate a one-way turnover of 1.98% at the December rebalance leading to a one-way trade of CNY 5.32bn.
- The potential adds have outperformed the potential deletes and the Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX) over the last five months, though there is some near-term underperformance.
Gracell Biotechnologies Inc (GRCL.US) – May Fail to Solve the Real Pain Points in CAR-T Field
- The latest data of GC012F/GC007g at ASCO/EHA drove up share price, but the current clinical data do not necessarily guarantee the final druggability. So, we advise investors to be rational.
- Gracell’s pipeline may not solve the real pain points of CAR-T therapy. Until the global momentum of cell therapy is reversed, there’s no need to expect too much from Gracell.
- Gracell’s stock price would continue to fluctuate with positive clinical data or progress. However, the liquidity of this stock isn’t good. In this situation, both ups and downs are meaningless.
Sanofi (SAN FP): It Is Not Just Only Dupixent; New Drugs and Vaccine Launches to Augment Growth
- Sanofi (SAN FP) earns more than 20% revenue from its key growth driver, Dupixent. With expanding indications, Dupixent is on track to record €10B revenue in 2023.
- The company has added two new drugs in its portfolio this year. Since the beginning of 2023, Sanofi has reported five positive readouts for its pipeline.
- Sanofi aims to reach €10B vaccine sales by 2030 from €7B in 2022, fueled by accelerated pace of innovation. The company plans to launch RSV vaccine for infants this winter.
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