HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

Pre-IPO Cofoe Medical Technology (A/H Listing) - The Business Model and the Concerns Behind

Pre-IPO Busy Ming Group - Concerns Behind the High Growth

Pre-IPO Banu International Holding - The Pain Points and the Outlook

Pre-IPO Jiangxi Institute of Biological Products-Concerns Behind the Strong Growth and Profitability

Equity Capital Markets

Binhui Biopharmaceutical / Equity Capital Markets

<ul>
<li>The core advantages of Binhui include its technological platform, industry-unique/vertically integrated CMC and commercial-scale manufacturing capabilities, making it a highly promising and indispensable player in the field of oncolytic viruses.</li>
<li>Oncolytic viruses market has yet to show a significant upward trend.The awareness of oncolytic virus therapy among doctors is insufficient. It’s highly uncertain whether Binhui will eventually achieve commercial success.</li>
<li>Under the ideal scenario, peak sales of BS001 may reach RMB2bn after becoming an important treatment option in key indications. If based on P/S of 2-4x, market value is RMB4-8bn.</li>
</ul>


The core advantages of Binhui include its technological platform, industry-unique/vertically integrated CMC and commercial-scale manufacturing capabilities, making it a highly promising and indispensable player in the field of oncolytic viruses.
Oncolytic viruses market has yet to show a significant upward trend.The awareness of oncolytic virus therapy among doctors is insufficient. It’s highly uncertain whether Binhui will eventually achieve commercial success.
Under the ideal scenario, peak sales of BS001 may reach RMB2bn after becoming an important treatment option in key indications. If based on P/S of 2-4x, market value is RMB4-8bn.


Pre-IPO Binhui Biopharmaceutical - The Success of Commercialization Is Highly Uncertain