Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

In technical publications like patents and research papers, cross-references are made to existing patents and research papers. We believe these mentions and citations can provide valuable insights into the views and impressions of experts in the specific innovations and technologies within a sector and hence the likelihood of success. In this report (which is the first one we are publishing) we have crawled through more than ten years of publications (several thousand) to analyze a subset in the Lifesciences space namely PEPTIDES.  Needless to say the same can be done with respect to other technological areas in other sectors as well.We backtested our methodology (dating three years back) to look for any specific actionable idea the analysis might throw up. We noted that among the small or mid-cap stocks that screened well half were acquired over the next three years Specific to this report we highlight over ten companies that are likely acquisition targets over the next three years. Within those, two companies that screen very well based purely on data mined from the publications and our parameters of number of innovations, number of citations, Recency, and Impact are a Germany based Nasdaq listed - Immatics (IMTX) and US-based Coherus (CHRS)

In technical publications like patents and research papers, cross-references are made to existing patents and research papers. We believe these mentions and citations can provide valuable insights into the views and impressions of experts in the specific innovations and technologies within a sector and hence the likelihood of success. In this report (which is the first one we are publishing) we have crawled through more than ten years of publications (several thousand) to analyze a subset in the Lifesciences space namely PEPTIDES.  Needless to say the same can be done with respect to other technological areas in other sectors as well.We backtested our methodology (dating three years back) to look for any specific actionable idea the analysis might throw up. We noted that among the small or mid-cap stocks that screened well half were acquired over the next three years Specific to this report we highlight over ten companies that are likely acquisition targets over the next three years. Within those, two companies that screen very well based purely on data mined from the publications and our parameters of number of innovations, number of citations, Recency, and Impact are a Germany based Nasdaq listed - Immatics (IMTX) and US-based Coherus (CHRS)

Stock Ideas Based on Data Mined from Technical Publications - A Look Into Peptides

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kyowa-kirin-co-ltd" target="_blank" data-smartkarma-citation="entities:18055:1" rel="noopener">Kyowa Kirin Co Ltd (4151 JP)</a> has announced partnership with <a href="https://www.smartkarma.com/entities/bridgebio-pharma-inc" target="_blank" data-smartkarma-citation="entities:28746:1" rel="noopener">Bridgebio Pharma Inc (BBIO US)</a> for an exclusive license on infigratinib for achondroplasia, hypochondroplasia, and other skeletal dysplasias in Japan.</li>
<li>This month, Kyowa Kirin has enrolled first patient in a Phase 2 clinical trial evaluating tivozanib eye drops (KHK4951) in patients with diabetic macular edema (DME).</li>
<li>The company’s top selling drug Crysvita is growing steadily since launch. Crysvita led to better-than-expected result in 2023. However, higher R&amp;D expenses will negatively impact 2024 operating profit.</li>
</ul>



Kyowa Kirin Co Ltd (4151 JP) has announced partnership with Bridgebio Pharma Inc (BBIO US) for an exclusive license on infigratinib for achondroplasia, hypochondroplasia, and other skeletal dysplasias in Japan.
This month, Kyowa Kirin has enrolled first patient in a Phase 2 clinical trial evaluating tivozanib eye drops (KHK4951) in patients with diabetic macular edema (DME).
The company’s top selling drug Crysvita is growing steadily since launch. Crysvita led to better-than-expected result in 2023. However, higher R&amp;D expenses will negatively impact 2024 operating profit.


Kyowa Kirin (4151 JP): Recent Portfolio Strengthening Initiatives to Accelerate Long-Term Growth

<ul>
<li>On August 29, the Centers for Medicare &amp; Medicaid Services unveiled list of 10 drugs, which will come for the first round of price negotiations under the Inflation Reduction Act.</li>
<li>From June 2022 to May 2023, more than 8 million people covered by Medicare used these 10 drugs, which accounted for more than $50B spending in Medicare Part D.</li>
<li>The negotiated price will be effective on January 1, 2026. Most of the companies will not be significantly impacted by the drug price negotiation.</li>
</ul>


On August 29, the Centers for Medicare &amp; Medicaid Services unveiled list of 10 drugs, which will come for the first round of price negotiations under the Inflation Reduction Act.
From June 2022 to May 2023, more than 8 million people covered by Medicare used these 10 drugs, which accounted for more than $50B spending in Medicare Part D.
The negotiated price will be effective on January 1, 2026. Most of the companies will not be significantly impacted by the drug price negotiation.


10 Drugs To Come Under First Round of Medicare Price Negotiations in US to Curb Inflation

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/country-garden-services-holdings-company-limited" target="_blank" data-smartkarma-citation="entities:27343:1" rel="noopener">Country Garden Services Holdings (6098 HK)</a> and <a href="https://www.smartkarma.com/entities/zhongsheng-group-holdings" target="_blank" data-smartkarma-citation="entities:10573:1" rel="noopener">Zhongsheng Group (881 HK)</a> are high probability deletions in September, while <a href="https://www.smartkarma.com/entities/trip-com-group-ltd-23a341d0-4f63-4175-a8c5-ee990906cacd" target="_blank" data-smartkarma-citation="entities:36424:1" rel="noopener">Trip.com (9961 HK)</a> is a high probability inclusion.</li>
<li>The second add could be <a href="https://www.smartkarma.com/entities/beigene-ltd" target="_blank" data-smartkarma-citation="entities:27352:1" rel="noopener">BeiGene Ltd (6160 HK)</a> if it passes the velocity test. If not, <a href="https://www.smartkarma.com/entities/chow-tai-fook-jewellery-group" target="_blank" data-smartkarma-citation="entities:549:1" rel="noopener">Chow Tai Fook Jewellery (1929 HK)</a> will be added.</li>
<li>With the exception of <a href="https://www.smartkarma.com/entities/zhongsheng-group-holdings" target="_blank" data-smartkarma-citation="entities:10573:1" rel="noopener">Zhongsheng Group (881 HK)</a>, short interest has been rising on all the other stocks and could affect how the stocks trade close to implementation date.</li>
</ul>



Country Garden Services Holdings (6098 HK) and Zhongsheng Group (881 HK) are high probability deletions in September, while Trip.com (9961 HK) is a high probability inclusion.
The second add could be BeiGene Ltd (6160 HK) if it passes the velocity test. If not, Chow Tai Fook Jewellery (1929 HK) will be added.
With the exception of Zhongsheng Group (881 HK), short interest has been rising on all the other stocks and could affect how the stocks trade close to implementation date.


HSCEI Index Rebalance Preview: Deletions Fairly Certain; Uncertainty Among the Adds

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hk-inno-n-corp" target="_blank" data-smartkarma-citation="entities:33522:1" rel="noopener">HK inno.N (195940 KS)</a> recorded impressive sequential improvement in 2Q23 result, while YoY comparison is negatively impacted by high base due to one-off cervical cancer vaccine revenue recorded in 2Q22.</li>
<li>In 2Q23, revenue increased 11% QoQ to KRW204B and operating profit grew 172% QoQ to KRW15B. Growth was mainly driven by a 19% QoQ growth in K-CAB domestic revenue.</li>
<li>HK inno targets KRW1T K-CAB revenue by entering 100 countries globally by 2028. The company is adding new growth engines such as IV fluids products, MSD vaccine, and biosimilars.</li>
</ul>



HK inno.N (195940 KS) recorded impressive sequential improvement in 2Q23 result, while YoY comparison is negatively impacted by high base due to one-off cervical cancer vaccine revenue recorded in 2Q22.
In 2Q23, revenue increased 11% QoQ to KRW204B and operating profit grew 172% QoQ to KRW15B. Growth was mainly driven by a 19% QoQ growth in K-CAB domestic revenue.
HK inno targets KRW1T K-CAB revenue by entering 100 countries globally by 2028. The company is adding new growth engines such as IV fluids products, MSD vaccine, and biosimilars.


HK Inno.N (195940 KS): 2Q23 Result Shows Strong Sequential Improvement; K-CAB Continues to Fly High

United States

Amgen Inc. is an independent biotechnology medicines company that discovers, develops, manufactures and markets medicines for grievous illnesses. The Company focuses solely on human therapeutics and concentrates on innovating novel medicines based on advances in cellular and molecular biology.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Amgen Inc (AMGN US)

Stock Ideas Based on Data Mined from Technical Publications - A Look Into Peptides

We have screened for stock ideas in the area of PEPTIDES by datamining citations by industry experts in thousands of technical publications over...

Pyari Menon

Kyowa Kirin (4151 JP): Recent Portfolio Strengthening Initiatives to Accelerate Long-Term Growth

Kyowa Kirin partners with Bridgebio for infigratinib in Japan and enrolls first patient in Phase 2 trial for tivozanib eye drop for DME. Higher...

Tina Banerjee

10 Drugs To Come Under First Round of Medicare Price Negotiations in US to Curb Inflation

CMS announces first round of price negotiations for 10 drugs under Inflation Reduction Act, affecting millions of Medicare users and $50B in...

Tina Banerjee

HSCEI Index Rebalance Preview: Deletions Fairly Certain; Uncertainty Among the Adds

The two potential adds have outperformed the two potential deletes by 42% since end May and by 52% since end June. Shorts have jumped on Beigene...

Brian Freitas

HK Inno.N (195940 KS): 2Q23 Result Shows Strong Sequential Improvement; K-CAB Continues to Fly High

In 2Q23, revenue increased 11% QoQ and operating profit grew 172% QoQ. K-CAB domestic revenue grew 19% QoQ. Flagship drug, K-CAB has been launched...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Stock Ideas Based on Data Mined from Technical Publications - A Look Into Peptides

We have screened for stock ideas in the area of PEPTIDES by datamining citations by industry experts in thousands of technical publications over...

Pyari Menon

Kyowa Kirin (4151 JP): Recent Portfolio Strengthening Initiatives to Accelerate Long-Term Growth

​Kyowa Kirin partners with Bridgebio for infigratinib in Japan and enrolls first patient in Phase 2 trial for tivozanib eye drop for DME. Higher...

Tina Banerjee

10 Drugs To Come Under First Round of Medicare Price Negotiations in US to Curb Inflation

​CMS announces first round of price negotiations for 10 drugs under Inflation Reduction Act, affecting millions of Medicare users and $50B in...

Tina Banerjee

HSCEI Index Rebalance Preview: Deletions Fairly Certain; Uncertainty Among the Adds

The two potential adds have outperformed the two potential deletes by 42% since end May and by 52% since end June. Shorts have jumped on Beigene...

Brian Freitas

HK Inno.N (195940 KS): 2Q23 Result Shows Strong Sequential Improvement; K-CAB Continues to Fly High

In 2Q23, revenue increased 11% QoQ and operating profit grew 172% QoQ. K-CAB domestic revenue grew 19% QoQ. Flagship drug, K-CAB has been launched...

Tina Banerjee

Kyowa Kirin partners with Bridgebio for infigratinib in Japan and enrolls first patient in Phase 2 trial for tivozanib eye drop for DME. Higher...

CMS announces first round of price negotiations for 10 drugs under Inflation Reduction Act, affecting millions of Medicare users and $50B in...