In today’s briefing:
- Alphawave Ditches WiseWave Before Embracing Qualcomm Bid. But Why?
- Sui (SUI): High Valuation, Early‑Stage Adoption
- WTR Biotech Spotlight Podcast Recap Apimeds Pharmaceuticals US, Inc. (APUS)
- [ETP 2025/24] WTI Rises on Trade Hopes, Geopolitics; Henry Hub Slips on Weak Near-Term Outlook
- Chime Financial, Inc. (CHYM): Rips 59% at Open, IPO Dips the Rest of the Day
- JAKK: Further Tariff Proofing the Model Post Mgmt. Meetings; Reiterate Buy
- Long COVID is estimated to lead to about $2b-$6.5b of related costs/year for the ~44 to 48m people suffering in the U.S.
Alphawave Ditches WiseWave Before Embracing Qualcomm Bid. But Why?
- Qualcomm’s recently rumoured desire to acquire UK-listed Alphawave finally came to fruition on June 9 with a US$2.4 billion offer
- Just two days earlier, on June 7, Alphawave announced that the company had disposed of its interest in China-based JV, WiseWave Technology
- What is WiseWave Technology, why did Alphawave invest in it and why is it now divesting that interest prior to the Qualcomm acquisition?
Sui (SUI): High Valuation, Early‑Stage Adoption
- Sui commands an ~US$11 bn market cap (FDV US$34 bn) barely two years after launch, yet real‑world usage is still embryonic.
- Claimed throughput of 297 k TPS contrasts with currently observed ~48 TPS (peak 335).
- A restrictive validator set, modest staking yields, looming token unlocks, and limited developer traction undermine the decentralisation and growth narrative.
WTR Biotech Spotlight Podcast Recap Apimeds Pharmaceuticals US, Inc. (APUS)
- Apimeds US is a clinical-stage biopharma company that is developing an intradermal bee venom-based toxin, Apitox, for pain associated with inflammatory conditions, including knee OA and multiple sclerosis (MS), for the US market.
- Apitox is licensed from Apimeds, Inc. in South Korea (Apimeds Korea), where the therapy has Korean approval as Apitoxin for treatment of OA.
- Honeybee venom has anti-inflammatory and analgesic properties.
[ETP 2025/24] WTI Rises on Trade Hopes, Geopolitics; Henry Hub Slips on Weak Near-Term Outlook
- For the week ending 06/Jun, U.S. crude inventories fell by 3.6m barrels (vs. expectations of a 2.4m barrel decline). Meanwhile, gasoline and distillate stockpiles rose more than expected.
- The EIA reported a 109 Bcf storage build, while analysts forecasted a 108 Bcf increase. Storage levels are 5.4% above the five-year average but 8.6% below year-ago levels.
- Shell targets 12 MMT of new LNG capacity by 2030, while TotalEnergies partners with Mistral AI to enhance its low-carbon, multi-energy strategy using artificial intelligence.
Chime Financial, Inc. (CHYM): Rips 59% at Open, IPO Dips the Rest of the Day
- Chime Financial, Inc. (CHYM) priced a full-size deal of 32.0mm shares at $27.00 ($1 Above the $24-$26 range) and opened at $43.00 for a gain of 59.2% at first trade.
- The debut is a major win for IPO investors but a disappointment for aftermarket traders as the stock closed nearly six points below the open.
- Chime’s order book finished north of 20-times oversubscribed with the top ten accounts taking 60% of the deal and the top 20 being allocated 85% of the transaction.
JAKK: Further Tariff Proofing the Model Post Mgmt. Meetings; Reiterate Buy
- We are reiterating our Buy rating and $40 price target, but lowering our 2025 and 2026 projections after meeting with JAKKS management and contemplating the near and longer term impact of China tariffs on the company.
- In the very near term, while only a short period (approximately 30 day) the impact of 100%+ tariffs on China goods created a virtual stop in sales at JAKKS, and with a business model focused on freight on board (“FOB”) shipping, necessitated a ramp period thereafter.
- Further, the current 30% tariff will mean that, yes, there will be a Halloween and Xmas, but it could be more cautious in terms of retailers placing product bets and, will obviously hurt returns for manufacturers and the entire toy supply chain.
Long COVID is estimated to lead to about $2b-$6.5b of related costs/year for the ~44 to 48m people suffering in the U.S.
- Long COVID is estimated to lead to about $2b-$6.5b of related costs/year for the ~44 to 48m people suffering in the U.S. but no treatment has proven effective yet.
- Aethlon collaborated with the UCSF Medical Center Long COVID clinic to evaluate plasma samples from participants with Long COVID symptoms & examine whether they could benefit from the Hemopurifier.
- We estimate, given the company’s focus on controlling costs, that expense associated with this effort was de minimis.
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