Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

<p>Personalis offers genomic sequencing to bio-pharmaceutical companies by fully analyzing sample tissue data of cancer patients. It provides its bio-pharmaceutical customers with information on all of the approximately 20,000 human genes alongside immune system information, as opposed to many cancer panels that cover roughly 50 to 500 genes which puts the company with a distinct competitive advantage over its competition.</p>
<p>The company has filed for an IPO to raise funds of approximately US$100m and has set its IPO price at US$15 per share, which implies a valuation of US$323m. We see good potential for the company where clinical trials and drug development requires significant cancer genetic information of patients where Personalis could play a significant role and make use of the market opportunity presented. Due to a strong industry coupled with strong growth in revenues and a solid balance sheet with positive operating cash flows, we believe the stock is attractive. That being said, the investors should be vary of Personalis’ revenues being highly concentrated into a few customers which exposes the company to substantial risk of losing revenues due to cancellation of contracts.</p>

Personalis offers genomic sequencing to bio-pharmaceutical companies by fully analyzing sample tissue data of cancer patients. It provides its bio-pharmaceutical customers with information on all of the approximately 20,000 human genes alongside immune system information, as opposed to many cancer panels that cover roughly 50 to 500 genes which puts the company with a distinct competitive advantage over its competition.
The company has filed for an IPO to raise funds of approximately US$100m and has set its IPO price at US$15 per share, which implies a valuation of US$323m. We see good potential for the company where clinical trials and drug development requires significant cancer genetic information of patients where Personalis could play a significant role and make use of the market opportunity presented. Due to a strong industry coupled with strong growth in revenues and a solid balance sheet with positive operating cash flows, we believe the stock is attractive. That being said, the investors should be vary of Personalis’ revenues being highly concentrated into a few customers which exposes the company to substantial risk of losing revenues due to cancellation of contracts.

Personalis IPO: Personalising Cancer Trials and Treatments; Upside from Growth in Cancer Market

United States

Genomic Health, Inc. is a life science company focused on the development and commercialization of genomic-based clinical diagnostic tests for cancer. The Company's diagnostic services provide information on the likelihood of disease recurrence and response to certain types of therapy.

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Genomic Health (GHDX US)

Personalis IPO: Personalising Cancer Trials and Treatments; Upside from Growth in Cancer Market

Personalis offers genomic sequencing to bio-pharmaceutical companies by fully analyzing sample tissue data of cancer patients. It provides its...

Shifara Samsudeen, ACMA, CGMA

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