In today’s briefing:
- TalkMed (TKMED SP)’s Super Clean Scheme
- Hims & Hers Stock Nosedives: The Real Reason Behind the Novo Nordisk Breakup!
- 3SBio Inc (1530 HK): Licensing Deal a Market Hit; Will It Continue?
- Wuhan Dazhong Dental Medical IPO: Shine Revival Will Take a Few Sessions
- MIRA: Data Shows Weight Drop Without Muscle Loss
- REITs and Tech led Net Institutional Inflows, as Frencken Chair and DHLT CEO Raised their Stakes
- Pre-IPO Genuine Biotech – The Current Pipeline Hardly Supports High Valuation
- Apellis Pharma is Betting Big on Global Expansion for SYFOVRE; What Lies Ahead?
TalkMed (TKMED SP)’s Super Clean Scheme
- On the 23 Dec 2024, tertiary health care provider TalkMed (TKMED SP) announced an Offer, by way of a Scheme, from Tamarind Health at S$0.456/share, a 20% premium to undisturbed.
- Tamarind is a Singaporean-based, pan-Asian oncology-focused group. As part of the deal, Temasek-backed 65 Equity Partners will subscribe for new shares in Tamarind.
- The Composite Document is now out, with a Court Meeting on the 15th July, and expected payment around the 29th August. The IFA (KPMG) says “fair & reasonable“.
Hims & Hers Stock Nosedives: The Real Reason Behind the Novo Nordisk Breakup!
- Hims & Hers Health has found itself at the center of investor turmoil after its high-profile collaboration with Novo Nordisk on FDA-approved weight loss drug Wegovy abruptly ended.
- The Danish pharmaceutical titan terminated the pact, accusing Hims & Hers of misleading marketing practices and non-compliance with regulations governing compounded drugs—actions it deemed a threat to patient safety.
- Hims & Hers CEO Andrew Dudum fired back, insisting the company’s compounding approach is legal under FDA rules and accusing Novo Nordisk of leveraging its market dominance to pressure patients toward branded Wegovy.
3SBio Inc (1530 HK): Licensing Deal a Market Hit; Will It Continue?
- 3SBio Inc (1530 HK) signed an outlicensing deal worth more than $6B with Pfizer for its PD-1/VEGF bispecific antibody, SSGJ-707. Since signing the deal, 3SBio shares rallied more than 55%.
- Considering deals signed with Chinese companies for bispecific antibody drug candidates in recent times, 3SBio seems to have secured best valuation for its asset.
- Initiation of global trial of SSGJ-707 and data readout from its ongoing China trials for additional indications, continued strong financial performance, and new approvals are upcoming catalysts.
Wuhan Dazhong Dental Medical IPO: Shine Revival Will Take a Few Sessions
- Wuhan Dazhong Dental Medical launched IPO aiming to raise up to HK$232 million (US$30 million). The company plans to sell 10.8 million shares at HK$20–HK$21.4 per share.
- Wuhan Dazhong Dental Medical is a private dental services provider in Central China providing dental services under the direct chain model.
- The IPO price is set at a premium (23%) to the price realized during Series B funding. Valuation looks attractive. But there are a few concerns to take into account.
MIRA: Data Shows Weight Drop Without Muscle Loss
- MIRA Pharmaceuticals(MIRA) Company Sponsored Research Report
REITs and Tech led Net Institutional Inflows, as Frencken Chair and DHLT CEO Raised their Stakes
- Institutions were net sellers of Singapore stocks with a S$248 million outflow, led by STI banks’ S$2.73 billion outflow.
- United Overseas Bank, DBS Group Holdings, and Oversea-Chinese Banking Corporation led share buybacks, totaling S$69.7 million in consideration.
- Q & M Dental Group CEO Ng Chin Siau increased his interest to 55.78%, acquiring 7,041,300 shares via Quan Min Holdings.
Pre-IPO Genuine Biotech – The Current Pipeline Hardly Supports High Valuation
- Essentially, Genuine‘s pipeline and commercialization strategy are centered around azvudine. However, the commercialization would still rely on the indications of HIV infection and COVID-19 in the short term.
- The COVID-19 has passed, so future revenue contribution of this indication will gradually shrink. Considering the unsustainability of its future performance, we suggest excluding COVID-19 projects when considering long-term valuation.
- The post-investment valuation after Series B financing was RMB3.56 billion. However, we are conservative about Genuine’s outlook, and we think reasonable valuation could be below RMB2 billion.
Apellis Pharma is Betting Big on Global Expansion for SYFOVRE; What Lies Ahead?
- Apellis Pharmaceuticals, Inc., a biopharmaceutical company focused on C3 targeting therapies, reported a mixed set of results for the first quarter of 2025.
- The quarter was marked by both achievements and challenges across their product portfolio.
- Key products include SYFOVRE for geographic atrophy (GA) and EMPAVELI, targeting rare nephrology indications like C3G and IC-MPGN, the latter advancing toward possible FDA approval with a PDUFA date set for July 28.
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