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 Shenzhen LDRobot - The IPO Pricing Is Reasonable

Pre-IPO Shanghai Top Numerical Control Technology (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Shenzhen SDMC Technology (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Cofoe Medical Technology (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Shanghai Xizhi Technology (PHIP Update)-The Business, Peer Comparison, Thoughts on Valuation

Pre-IPO IMPACT Therapeutics - Thoughts on the Pipeline, the Concerns and Valuation Outlook

Pre-IPO Huaqin (A/H Listing) - Low Profit Margin Is a Pain Point Due to Flaws in Business Model

Equity Capital Markets

IMPACT Therapeutics / Equity Capital Markets

<ul>
<li>After being officially included in NRDL in 2026, the retail price of Senaparib will be significantly reduced, which will have a “compression effect” on the sales in the short term.</li>
<li>The peak sales forecast of Senaparib in Chinese and global market would be RMB1.6 billion-2.2 billion, US$200 million-400 million, respectively. So, total peak sales of Senaparib is RMB3.2 billion-5 billion.</li>
<li>Investors should pay attention to how much revenue/profit actually belongs to IMPACT according to the sharing ratio stipulated in cooperation agreement. Reasonable valuation of IMPACT could be RMB1.6 billion-3.8 billion </li>
</ul>


After being officially included in NRDL in 2026, the retail price of Senaparib will be significantly reduced, which will have a “compression effect” on the sales in the short term.
The peak sales forecast of Senaparib in Chinese and global market would be RMB1.6 billion-2.2 billion, US$200 million-400 million, respectively. So, total peak sales of Senaparib is RMB3.2 billion-5 billion.
Investors should pay attention to how much revenue/profit actually belongs to IMPACT according to the sharing ratio stipulated in cooperation agreement. Reasonable valuation of IMPACT could be RMB1.6 billion-3.8 billion 


Pre-IPO IMPACT Therapeutics (PHIP Updates) - Some Points Worth the Attention