In today’s briefing:
- Wuxi XDC Cayman (2268 HK): Soaring Pharma Stocks & Global Index Inclusion
- Innogen (银诺医药) Pre-IPO Update: New Data Points
- Hybridan Research: Physiomics plc
- MicroPort MedBot (2252 HK): Growth Flash Amid Favorable Momentum with Approvals and Overseas Sales
Wuxi XDC Cayman (2268 HK): Soaring Pharma Stocks & Global Index Inclusion
- WuXi XDC Cayman (2268 HK)‘s stock price has recovered from the tariff fear induced selloff and the higher market cap should result in global index inclusion in August.
- WuXi XDC Cayman (2268 HK) has gone from bottom of the pack to middle over the last 9 months and there could be further relative upside.
- There is positioning in the stock but it appears to be lower than positioning in its peers. Long/short trades could offer better risk/return.
Innogen (银诺医药) Pre-IPO Update: New Data Points
- Innogen, a China-based near-commercial stage biotech company, is looking to raise at least USD 100 million via a Hong Kong listing. CITIC Securities and CICC are the joint sponsors.
- In this note, we look at changes to the company’s refiled application proof.
- We also did a comparison between the company’s product and PegBio’s PB-119. PegBio was listed on HKEx in May. We also check its products’ online listing.
Hybridan Research: Physiomics plc
- After a sequence of contracts building from the core business, the YE Trading Update reports revenue higher than expectations, with a consequential reduction in losses and higher cash balances.
- Assuming the momentum is maintained, it extends the cash runway to 12 months.
- Revenue expectations for June 2025 are increased to £834k which is 46% ahead of FY June 24, while the Loss After Tax is 31% lower at £419k, than the comparable period.
MicroPort MedBot (2252 HK): Growth Flash Amid Favorable Momentum with Approvals and Overseas Sales
- Shanghai MicroPort MedBot Group (2252 HK) announced flash results for 1H25 where they expect the revenue to rise 70–80% YoY and net loss to narrow down to RMB 125M.
- Toumai Laparoscopic Surgical Robot continued to be the main growth driver securing new orders of 18 units and achieving commercial installation of more than 13 units in overseas markets.
- MedBot’s recent approvals of Toumai variants, technology advantages, and commercialization strength places it at an inflection point, expected to be back in the black soon.
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