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 InSilico Medicine - AI Pharmaceutical Is Immature; Valuation Expansion Relies on Imagination

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Pre-IPO InSilico Medicine (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Shanghai Forest Cabin Biological-Tech - The Business Model and the Concerns Behind

Equity Capital Markets

InSilico Medicine Cayman TopCo / Equity Capital Markets

<ul>
<li>The IPO pricing reflects the liquidity value brought by IPO and recognition of cornerstone investors, but InSilico is facing huge uncertainties.Its value will take several years to be verified.</li>
<li>Our revenue forecast is US$55 million/US$70-90 million/US$100-150 million in 2025/2026/2027, respectively. Insilico may suffer losses in the next three years, but in 2027, the Company may turn loss into profits.</li>
<li>The essential difference between QuantumPharm and InSilico lies in business models. We’re more optimistic about InSilico in long term, whose valuation may surpass QuantumPharm if InSilico can develop blockbuster drugs.</li>
</ul>


The IPO pricing reflects the liquidity value brought by IPO and recognition of cornerstone investors, but InSilico is facing huge uncertainties.Its value will take several years to be verified.
Our revenue forecast is US$55 million/US$70-90 million/US$100-150 million in 2025/2026/2027, respectively. Insilico may suffer losses in the next three years, but in 2027, the Company may turn loss into profits.
The essential difference between QuantumPharm and InSilico lies in business models. We’re more optimistic about InSilico in long term, whose valuation may surpass QuantumPharm if InSilico can develop blockbuster drugs.


Pre-IPO InSilico Medicine - Thoughts on Valuation, Peer Comparison and Forecast