Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Enzychem Lifesciences Corp / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/enzychem-lifesciences-corp" target="_blank" data-smartkarma-citation="entities:26185:1" rel="noopener">Enzychem Lifesciences Corp (183490 KS)</a> is eyeing on its lead innovative drug candidate, EC-18 for long-term sustainable growth driver. EC-18 is in late-stage clinical trial for couple of indications.</li>
<li>EC-18 is in phase 2 clinical trial for the treatment of chemoradiation-induced oral mucositis (CRIOM), an acute inflammation of the oral mucosa following systemic chemoradiation therapy.</li>
<li>Currently, CRIOM has no approved therapies. Enzychem Lifesciences has filed for FDA breakthrough therapy designation for EC-18 in CRIOM, which will enable designing of phase 3 study.  </li>
</ul>



Enzychem Lifesciences Corp (183490 KS) is eyeing on its lead innovative drug candidate, EC-18 for long-term sustainable growth driver. EC-18 is in late-stage clinical trial for couple of indications.
EC-18 is in phase 2 clinical trial for the treatment of chemoradiation-induced oral mucositis (CRIOM), an acute inflammation of the oral mucosa following systemic chemoradiation therapy.
Currently, CRIOM has no approved therapies. Enzychem Lifesciences has filed for FDA breakthrough therapy designation for EC-18 in CRIOM, which will enable designing of phase 3 study.  


Enzychem Lifesciences Corp (183490 KS): Picked New Drug Development as Future Growth Engine

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>There are 12 inclusions and 12 exclusions for the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index (KOSDQ150 INDEX)</a> at the June rebalance to be implemented at the close on 9 June.</li>
<li>Most of the inclusions were expected, but there are quite a few surprises among the deletions. The impact on the deletions will be higher than that on the inclusions.</li>
<li>The adds have outperformed the deletes and there has been another leg up in the last couple of weeks. Expect the trend to continue till implementation week.</li>
</ul>


There are 12 inclusions and 12 exclusions for the KOSDAQ 150 Index (KOSDQ150 INDEX) at the June rebalance to be implemented at the close on 9 June.
Most of the inclusions were expected, but there are quite a few surprises among the deletions. The impact on the deletions will be higher than that on the inclusions.
The adds have outperformed the deletes and there has been another leg up in the last couple of weeks. Expect the trend to continue till implementation week.


KOSDAQ150 Index Rebalance Preview: A Dozen Changes in June

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<ul>
<li>KRX is expected to announce the KOSDAQ150 rebalance in the next couple of weeks. </li>
<li>An alpha generating trading strategy would be to focus on companies with higher probability of getting deleted in the next round of KOSDAQ rebalance in December.  </li>
<li>These 15 companies are those among the bottom 30 market cap in KOSDAQ150 that are ranked number 16 to 30 in terms of combined market cap and trading value range. </li>
</ul>


KRX is expected to announce the KOSDAQ150 rebalance in the next couple of weeks. 
An alpha generating trading strategy would be to focus on companies with higher probability of getting deleted in the next round of KOSDAQ rebalance in December.  
These 15 companies are those among the bottom 30 market cap in KOSDAQ150 that are ranked number 16 to 30 in terms of combined market cap and trading value range. 


Alpha Generating Trading Strategy of KOSDAQ150 Deletions & Additions in June 2022

<ul>
<li>In this insight, we discuss the potential additions and deletions in the upcoming June 2022 KOSDAQ150 rebalance.</li>
<li>The top 10 potential inclusions of KOSDAQ150 are on average down 2.8% YTD, outperforming KOSDAQ which is down 15.1% YTD. </li>
<li>The top 10 potential exclusions of KOSDAQ150 are down on average 21.6% YTD, underperforming KOSDAQ which is down 15.1% in the same period. </li>
</ul>


In this insight, we discuss the potential additions and deletions in the upcoming June 2022 KOSDAQ150 rebalance.
The top 10 potential inclusions of KOSDAQ150 are on average down 2.8% YTD, outperforming KOSDAQ which is down 15.1% YTD. 
The top 10 potential exclusions of KOSDAQ150 are down on average 21.6% YTD, underperforming KOSDAQ which is down 15.1% in the same period. 


Potential Additions and Deletions to KOSDAQ150 Rebalance in June 2022

<a href="https://www.smartkarma.com/entities/kakao-games-corp" target="_blank" data-smartkarma-citation="entities:26730:1" rel="noopener">Kakao Games (1404796D KS)</a> is down almost 9% today due to the expiry of the 1 month lock up on IPO shares. Of the institutional allotment, there were 4.36m shares that were locked in for 1 month and are eligible for sale today. Volume traded so far today has already crossed 4.7m shares.With the review period for changes to the KOSDAQ150 index in the December review ending on 30 October, this is a crucial phase that will determine if <a href="https://www.smartkarma.com/entities/kakao-games-corp" target="_blank" data-smartkarma-citation="entities:26730:1" rel="noopener">Kakao Games (1404796D KS)</a> makes the cut for inclusion in the index.Based on current prices, the stock easily makes the case for index inclusion and only a very steep fall over the next 2 weeks would take the stock out of the list of probable inclusions.In this Insight, we look at the Kakao Games IPO, the criteria for inclusion in the KOSDAQ150 Index, and the impact on the stock if it is included in the index.

Kakao Games (1404796D KS) is down almost 9% today due to the expiry of the 1 month lock up on IPO shares. Of the institutional allotment, there were 4.36m shares that were locked in for 1 month and are eligible for sale today. Volume traded so far today has already crossed 4.7m shares.With the review period for changes to the KOSDAQ150 index in the December review ending on 30 October, this is a crucial phase that will determine if Kakao Games (1404796D KS) makes the cut for inclusion in the index.Based on current prices, the stock easily makes the case for index inclusion and only a very steep fall over the next 2 weeks would take the stock out of the list of probable inclusions.In this Insight, we look at the Kakao Games IPO, the criteria for inclusion in the KOSDAQ150 Index, and the impact on the stock if it is included in the index.

Kakao Games - KOSDAQ150 December Inclusion and Lock Up Expiry

South Korea

Samsung Pharmaceutical Co., Ltd. manufactures medicines to treat a variety of diseases.  The Company's products include medicines for inflammatory, nutrition, and digestive system.

Jeil Pharma Holdings Inc. operates as a pharmaceutical manufacturing company. The Company manufactures analgesic anti-inflammatories, broad-spectrum oral antimicrobial agents, analgesic anti-cold poultice poultices, hyperlipidemia agents, intravenous antibiotics, and other products. Jeil Pharma Holdings markets its products throughout Korea.

Daehan New Pharm Co., Ltd. develops, manufactures, and markets pharmaceutical drugs, such as vaccines, diagnostic kits, and antibiotics.  The Company also produces various veterinary drugs and baby cares.  Daehan New Pharm exports its products to Japan, Malaysia, Vietnam, and Brazil.

Aprogen Pharmaceuticals Inc. manufactures and sells pharmaceutical products. The Company supplies anti-cancer drugs, circulation and digestive aid medicines, anti-allergy medication, amino-acid nutrient transfusion agents, and other medical products. Aprogen Pharmaceuticals manufactures amino acid infusion agents and antibiotics.

CTC BIO Inc. manufactures and distributes veterinary drugs for bovine, poultry, swine, and fish such as antibiotics, antiparasitic agents, and carcass quality enhancers.  The Company also produces natural pigments and feed enzymes.

Daihan Pharmaceutical Co., Ltd. manufactures and markets pharmaceutical products, such as parenterals, commonly known as intravenous (IV) fluids. The Company also produces other pharmaceutical products, including injectables, antibiotics, nutritional supplements, and anesthetics.  Daihan supplies its products to hospitals and private pharmacies through its own sales network.

Samil Pharmaceutical Co., Ltd. manufactures pharmaceutical drugs in the fields of ophthalmic, respiratory, antibiotic, circulatory, and diabetic. The Company also produces hormone, dermatological, metabolic, respiratory, dental, and gastro-intestinal drugs.

Ilsung Pharmaceuticals Co., Ltd. manufactures pharmaceuticals, such as antibiotics, analgesics, inhalation anesthetics and multi-vitamins. The Company sells its products to local hospitals.

High Tech Pharm Co Ltd. manufactures sterile and oral antibiotics.  The Company's products include sterile bulk forms of Cephalosporine and Carbapenem related antibiotics.  High Tech Pharm also exports active pharmaceutical ingredients.

Hwail Pharm Co., Ltd. produces pharmaceutical raw materials.  The Company's products include Talniflumate, Alibendol, and Oxatomide.  Hwail supplies these materials to companies dealing with finished pharmaceutical products.

PT Merck Tbk manufactures pharmaceutical products. The Company also distributes pharmaceutical raw materials, chemicals reagents, and medical instruments.

Hangzhou Tian-Mu-Shan Pharmaceutical Enterprise Co., Ltd. researches, manufactures, and markets traditional Chinese medicines, western medicines, and biomedicines.  The Company also manufactures printed circuit boards and paper products.

Hangzhou Tian Mu Shan Pharm. Enterp. Co (600671 CH)

Chunghwa Chemical Synthesis & Biotech Co Ltd is a biomedical company. The Company contract manufactures a wide range of pharmaceutical products, including pain management, antifungal, immunosuppressant, as well as provides synthesis and biotechnology technologies.

Chunghwa Chemical Synthesis & Biotech (1762 TT)

Ind-Swift Laboratories Ltd. manufactures bulk drugs and intermediates.  The Company's product portfolio includes anti-infective, anti-allergy, analgesic and cardiovascular medicines.

Johnson Chemical Pharmaceutical Works Corp. develops medical and biotechnology products.

Jagsonpal Pharmaceuticals  develops and  manufactures bulk drugs and pharmaceutical formulations.

Symbio Pharmaceuticals Limited develops and commercializes prescription drugs n oncology, hematology and auto-immune disease for Japan and other Asia Pacific markets.

Lansen Pharmaceutical holdings Ltd. is a pharmaceutical holding company. The Company's subsidiaries produce and sell rheumatic specialty prescription western pharmaceuticals in the Peoples Republic of China.

Lansen Pharmaceutical Holdings Co, Ltd. (503 HK)

Darya-Varia Laboratoria Tbk PT manufactures, trades, and distributes pharmaceuticals and related chemicals, as well as health care products.

Orient Europharma Co., Ltd. serves as an agent for international pharmaceutical companies.  The Company also produces a variety of milk powder, drugs, and nutritional supplements.

Enzychem Lifesciences Corporation manufactures and distributes drugs. The Company manufactures active pharmaceutical ingredients, pharmaceutical intermediates, and cosmetic ingredients. Enzychem Lifesciences also produces functional health foods and finished drug products.

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Enzychem Lifesciences Corp (183490 KS)