Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Apellis Pharmaceuticals / Equity Bottom-Up

<ul><li>Apellis Pharmaceuticals experienced a strong start to the first quarter of 2024, showing significant growth particularly through its product SYFOVRE, which demonstrated impressive market uptake and robust sales growth.</li><li>SYFOVRE generated $137 million in net sales for the quarter, marking a 20% increase from the previous quarter.</li><li>This increase predominantly stemmed from accelerated demand as the product solidified its position in the market.</li></ul>

Apellis Pharmaceuticals experienced a strong start to the first quarter of 2024, showing significant growth particularly through its product SYFOVRE, which demonstrated impressive market uptake and robust sales growth.SYFOVRE generated $137 million in net sales for the quarter, marking a 20% increase from the previous quarter.This increase predominantly stemmed from accelerated demand as the product solidified its position in the market.

Apellis Pharmaceuticals Inc.: Strategic Marketing and Direct-to-Consumer (DTC) Campaigns Changing The Game! - Major Drivers

<ul><li>Apellis Pharmaceuticals delivered decent financial results for the fourth quarter and full year of 2023.</li><li>The company ended the year in a solid position, with two commercially successful products: SYFOVRE and EMPAVELI, both of which are playing central roles in improving patients’ lives.</li><li>In 2023, multiple positive data readouts and high compliance rates for EMPAVELI were achieved, positioning the company well for continued success in 2024.</li></ul>

Apellis Pharmaceuticals delivered decent financial results for the fourth quarter and full year of 2023.The company ended the year in a solid position, with two commercially successful products: SYFOVRE and EMPAVELI, both of which are playing central roles in improving patients’ lives.In 2023, multiple positive data readouts and high compliance rates for EMPAVELI were achieved, positioning the company well for continued success in 2024.

Apellis Pharmaceuticals Inc.: Initiation Of Coverage -  A Dominant Force In PNH & Nephrology Market - Major Drivers

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/astellas-pharma-inc" target="_blank" data-smartkarma-citation="entities:6091:1" rel="noopener">Astellas Pharma (4503 JP)</a> reported Q1FY24 results, with revenue beating and operating and net profit missing consensus. Revenue declined 2%, while operating and net profit increased 17% and 13%, respectively.</li>
<li>Astellas has reiterated FY24 revenue guidance of ¥1,520B, while reduced operating profit guidance by ¥29B to ¥259B (+95% YoY) and net profit guidance by ¥23B to ¥204B (+106% YoY).</li>
<li>On August 4, Iveric Bio has received FDA approval for Izervay for the treatment of geographic atrophy secondary to age-related macular degeneration, which impacts approximately 1.5M people in the U.S.  </li>
</ul>



Astellas Pharma (4503 JP) reported Q1FY24 results, with revenue beating and operating and net profit missing consensus. Revenue declined 2%, while operating and net profit increased 17% and 13%, respectively.
Astellas has reiterated FY24 revenue guidance of ¥1,520B, while reduced operating profit guidance by ¥29B to ¥259B (+95% YoY) and net profit guidance by ¥23B to ¥204B (+106% YoY).
On August 4, Iveric Bio has received FDA approval for Izervay for the treatment of geographic atrophy secondary to age-related macular degeneration, which impacts approximately 1.5M people in the U.S.  


Astellas Pharma (4503 JP): Mixed Q1 Result; FY24 Profit Guidance Cut; New Drug Approval

United States

Arrowhead Pharmaceuticals, Inc. operates as a biotechnology company. The Company develops medicines that treat intractable diseases by silencing the genes. Arrowhead Pharmaceuticals offers its services in the United States.

Alpine Immune Sciences, Inc. (AIS) focuses on developing novel protein-based cancer immunotherapies using its proprietary variant ig domain (vIgD) platform technology. The Company develops TIP technology, based on the vIgD platform, to enhance engineered cellular therapies. AIS offers a platform to interact with multiple targets, including many present in the immune synapse.

Mirati Therapeutics, Inc. is a targeted oncology company developing a pipeline of therapeutics for precisely defined patient populations. The Mirati team is using a blueprint proven by their prior work for developing potential breakthrough therapies with accelerated development paths.

IVERIC bio, Inc. operates as a biopharmaceutical company. The Company develops treatments for patients with orphan inherited retinal diseases with significant unmet medical needs. IVERIC bio serves customers in the United States.

ImmunityBio, Inc. operates as a biotechnology company. The Company focuses on developing cell and immunotherapy products for the treatment of cancers, infectious, and inflammatory diseases. ImmunityBio serves customers in the United States.

Ultragenyx Pharmaceutical Inc. provides biotechnology services. The Company develops therapeutics and sialic acid for treating metabolic, body myopathy, glucuronidase, and rare genetic diseases. Ultragenyx Pharmaceutical conducts its business in the United States.

Dyne Therapeutics, Inc. operates as a biotechnology company. The Company focuses on transforming the lives of people with serious diseases by developing muscle-targeted therapies. Dyne Therapeutics offers its services in the United States.

CRISPR Therapeutics AG is a bio-technology company. The Company researches, develops, and manufactures biological transformative gene-based medicines and other related products. CRISPR Therapeutics operates in Switzerland.

Bridgebio Pharma, Inc. operates as a bio technology company. The Company focuses on development of medicines for genetic diseases. Bridgebio Pharma serves patients worldwide.

Krystal Biotech, Inc. operates as a biopharmaceutical company. The Company develops a proprietary gene therapy platform for the patients suffering from rare debilitating disorders. Krystal Biotech serves patients in the State of Pennsylvania.

Biocon Ltd., is an integrated biotechnology enterprise with a presence in biopharmaceuticals, enzymes, custom research and clinical research. The Company's pharmaceutical products include statins, immunosuppressants and anti-diabetic drugs. Biocon also manufactures specialty enzymes and new enzyme applications besides providing clinical and custom research services.

Hualan Biological Engineering Inc. produces and markets human serum albumin (HSA), gamma globulin, frozen prothrombin (PCC), and other related biological products.

Hualan Biological Engineering (002007 CH)

Alkermes PLC researches pharmaceuticals.  The Company develops treatments for central nervous system disorders such as addiction, schizophrenia and depression; and diabetes.

Abcam PLC produces and distributes research-grade antibodies via an online catalog.  The Company's customers include universities, research institutes, and pharmaceutical and biotechnology companies in countries around the world.

Telix Pharmaceuticals Limited operates as a biotechnology company. The Company develops and commercializes molecularly-targeted radiation therapy for the treatment of prostate, renal, and brain cancer. Telix Pharmaceuticals serves patients worldwide.

Walvax Biotechnology Company Limited develops, manufactures and sells bio-pharmaceutical vaccination products.  The Company's products include haemophilus influenzae type b conjugate vaccine and meningococcal group A,C bivalent polysaccharide conjugate vaccine.

PharmaEssentia Corporation develops and distributes therapeutic products for treatment in human disease. The Company develops drugs to treat hepatitis, chronic myeloid leukemia (CML), essential thrombocythemia (ET), myeloid fibrosis (MF), polycythemia vera (PV), hepatitis and cancer.

Grifols S.A. develops, manufactures, and markets plasma derivatives, IV Therapy, enteral nutrition, diagnostic systems, and medical materials.

Laurus Labs Limited researches, develops, manufactures, and sells active pharmaceutical ingredients (APIs) in India and internationally. It offers APIs for anti-retroviral and hepatitis C; and APIs in oncology and other therapeutic areas. .

Shenzhen Kangtai Biological Products Co., Ltd. operates biological product manufacturing businesses. The Company produces biological vaccines and other vaccine products. Shenzhen Kangtai Biological Products conducts businesses in China.

Shenzhen Kangtai Biological Pr (300601 CH)

Apellis Pharmaceuticals, Inc. operates as a clinical-stage biopharmaceutical company. The Company focuses on the discovery and development of therapeutic compounds for autoimmune and inflammatory diseases. Apellis Pharmaceuticals serves clients worldwide.

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Apellis Pharmaceuticals (APLS US)

Apellis Pharmaceuticals Inc.: Strategic Marketing and Direct-to-Consumer (DTC) Campaigns Changing The Game! - Major Drivers

Apellis Pharmaceuticals experienced a strong start to the first quarter of 2024, showing significant growth particularly through its product...

Baptista Research

Apellis Pharmaceuticals Inc.: Initiation Of Coverage - A Dominant Force In PNH & Nephrology Market - Major Drivers

Apellis Pharmaceuticals delivered decent financial results for the fourth quarter and full year of 2023. The company ended the year in a solid...

Baptista Research

Astellas Pharma (4503 JP): Mixed Q1 Result; FY24 Profit Guidance Cut; New Drug Approval

In Q1 revenue declined 2%, while operating and net profit increased 17% and 13%, respectively. Astellas reduced FY24 operating profit guidance by...

Tina Banerjee

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