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 Muyuan Foods - The Hog King in China Has Greater Potential and Resilience

Pre-IPO LXJ International Holdings - The Pain Points and the Outlook

Pre-IPO Bama Tea - The Business Model, the Challenges and the Outlook

Pre-IPO Vigonvita Life Sciences - The Challenges Behind the Pipeline and the Outlook

Pre-IPO Foshan Haitian Flavouring & Food Company (PHIP Updates) - Some Points Worth the Attention

Equity Capital Markets

EpimAb Biotherapeutics / Equity Capital Markets

<ul>
<li>TCE has been highly popular for hematological malignancies and autoimmune diseases.Due to the "Fear of Missing Out" mentality, MNCs directly have purchased TCE assets or the Newco model is adopted.</li>
<li>Current clinical data is good for CRC, providing EMB-01 with a solid foundation for entering phase III trials.EMB-06 may face challenges in commercialization. EMB-07 has high hopes to be out-licensed.</li>
<li>Short-Term valuation could be lower than Akeso. Based on our forecast of the peak sales of EMB-01, EMB-06, EMB-07, long-term valuation could reach about US$16.5 billion.</li>
</ul>


TCE has been highly popular for hematological malignancies and autoimmune diseases.Due to the "Fear of Missing Out" mentality, MNCs directly have purchased TCE assets or the Newco model is adopted.
Current clinical data is good for CRC, providing EMB-01 with a solid foundation for entering phase III trials.EMB-06 may face challenges in commercialization. EMB-07 has high hopes to be out-licensed.
Short-Term valuation could be lower than Akeso. Based on our forecast of the peak sales of EMB-01, EMB-06, EMB-07, long-term valuation could reach about US$16.5 billion.


Pre-IPO EpimAb Biotherapeutics - The TCE Pipeline Has Great Potential