In today’s briefing:
- Tesla Posted Strong Q1 Results (Thanks to China)/Elon Is Looking For Other People’s Money
- HilleVax Pre-IPO: Lead Candidate Has Potential to Become First Approved Vaccine for Norovirus
- Abbott Laboratories (ABT US): 2022 High Conviction Idea 1Q22 Review- COVID Testing Bonanza Continues
- Laughing Water Capital Q1 2022 Letter
Tesla Posted Strong Q1 Results (Thanks to China)/Elon Is Looking For Other People’s Money
- Tesla should probably thank its China operations for another record quarter as strong pricing and lag in hits from cost inflation made profits soar.
- Next quarter will be tougher as China’s business conditions rapidly deteriorate amid the worst Covid surge in two years.
- Meanwhile, CEO Elon Musk is on the hunt for cash to buy Twitter.
HilleVax Pre-IPO: Lead Candidate Has Potential to Become First Approved Vaccine for Norovirus
- HilleVax (HLVX US), a novel vaccine developer intends to raise $100 million through an IPO. Its lead program HIL-214, intended to prevent norovirus infection is in phase 2 clinical trial.
- The number of shares to be offered and the price range are yet to be disclosed. Post listing, the company will trade under the ticker HLVX on the Nasdaq.
- HIL-214’s large addressable market, with huge unmet need, HilleVax’s earlier fund-raising history, and Takeda’s backing are some of the positives of this new offering.
Abbott Laboratories (ABT US): 2022 High Conviction Idea 1Q22 Review- COVID Testing Bonanza Continues
- Abbott Laboratories (ABT US) reported better-than-expected Q1 revenue and earnings, due to higher diagnostic revenue led by strong COVID-19 testing revenue. 2022 adjusted EPS guidance remains unchanged.
- In Q1, global COVID-19 testing-related sales reached to a record high of $3.3 billion, representing 28% of total revenue. COVID-19 testing revenue guidance was raised to $4.5 billion for 2022.
- Medical devices business reported double-digit organic revenue growth in the U.S. as well as international market, showing continued recovery in the elective procedures.
Laughing Water Capital Q1 2022 Letter
- Laughing Water Capital returned approximately -12.5% in the first quarter of 2022.
- Most of the quarter our results tracked the indexes pretty closely, but as the indexes rallied into quarter end, our portfolio did not.
Before it’s here, it’s on Smartkarma
