Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Oct 7th (reported today) which has an aggregated short interest worth USD16.9bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in CBA, BHP, Westpac, Wesfarmers, CSL, South32, Fortescue, IGO, OZ Minerals, Washington  H. SO. </li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 7th (reported today) which has an aggregated short interest worth USD16.9bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in CBA, BHP, Westpac, Wesfarmers, CSL, South32, Fortescue, IGO, OZ Minerals, Washington  H. SO. 


ASX Short Interest Weekly (Oct 7th): CBA, BHP, Westpac, Wesfarmers, CSL

Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/imugene-ltd" target="_blank" data-smartkarma-citation="entities:20276:1" rel="noopener">Imugene Ltd (IMU AU)</a> announced A$80 million institutional placement at A$0.20/ share, representing 11.1% discount to last close on September 9, 2022. Shares issued represent just 6.8% of existing shares.</li>
<li>The company will have a pro-forma cash position of ~A$175 million on completion of the Placement, funding the company’s broad clinical pipeline of three platform technologies.</li>
<li>For every two new shares subscribed for under the placement, Imugene intends to issue one free new option. The options issued will provide A$66 million in funding, if fully exercised.</li>
</ul>



Imugene Ltd (IMU AU) announced A$80 million institutional placement at A$0.20/ share, representing 11.1% discount to last close on September 9, 2022. Shares issued represent just 6.8% of existing shares.
The company will have a pro-forma cash position of ~A$175 million on completion of the Placement, funding the company’s broad clinical pipeline of three platform technologies.
For every two new shares subscribed for under the placement, Imugene intends to issue one free new option. The options issued will provide A$66 million in funding, if fully exercised.


Imugene (IMU AU) Placement: Extended Runway for Clinical Programs Pipeline at Modest Equity Dilution

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/imugene-ltd" target="_blank" data-smartkarma-citation="entities:20276:1" rel="noopener">Imugene Ltd (IMU AU)</a> has recently dosed the first patient in cohort 3 in the phase 1 clinical trial of oncolytic virotherapy candidate, CHECKvacc for breast cancer.</li>
<li>As at June 30, 2022, Imugene had cash balance of A$99.9 million, providing a runway to support its clinical pipeline and operations into 2025. </li>
<li>As the clinical trials progressing, the company has appointed an experienced life sciences CFO.</li>
</ul>



Imugene Ltd (IMU AU) has recently dosed the first patient in cohort 3 in the phase 1 clinical trial of oncolytic virotherapy candidate, CHECKvacc for breast cancer.
As at June 30, 2022, Imugene had cash balance of A$99.9 million, providing a runway to support its clinical pipeline and operations into 2025. 
As the clinical trials progressing, the company has appointed an experienced life sciences CFO.


Imugene (IMU AU): Clinical Trial Continued to Advance; Cash Position Still Strong

<ul>
<li>
<a href="https://www.smartkarma.com/entities/imugene-ltd" target="_blank" data-smartkarma-citation="entities:20276:1" rel="noopener">Imugene Ltd (IMU AU)</a> shares faced panic-selling after the announcement of termination of the company’s supply contract with Merck. However, the study will continue with alternative supply arrangement.</li>
<li>Recently, Imugene published a letter to the shareholders describing the strength and near-term catalyst of the company, which provided some respite to the stock.</li>
<li>Overall, Imugene, with a cash balance of A$109 million, is well-funded to advance its unique immune-oncology pipeline toward commercial success.</li>
</ul>



Imugene Ltd (IMU AU) shares faced panic-selling after the announcement of termination of the company’s supply contract with Merck. However, the study will continue with alternative supply arrangement.
Recently, Imugene published a letter to the shareholders describing the strength and near-term catalyst of the company, which provided some respite to the stock.
Overall, Imugene, with a cash balance of A$109 million, is well-funded to advance its unique immune-oncology pipeline toward commercial success.


Imugene (IMU AU): Promising Pipeline And Financial Muscle Power Are Biggest Strengths

<ul>
<li>
<a href="https://www.smartkarma.com/entities/imugene-ltd" target="_blank" data-smartkarma-citation="entities:20276:1" rel="noopener">Imugene Ltd (IMU AU)</a> is a clinical-stage biopharma company, which is developing alternative approach to treat certain types of cancers. Lead candidate HER-Vaxx is in phase 2 trial.</li>
<li>Imugene is well funded and resourced, to deliver on its commercial and clinical milestones. Recent clinical and patent activities entail conviction over the commercialization prospect of Imugene’s pipeline.</li>
<li>Recent insider acquisition of shares and patent grant in Europe and South Korea for its lead candidate have boosted investor sentiment.</li>
</ul>



Imugene Ltd (IMU AU) is a clinical-stage biopharma company, which is developing alternative approach to treat certain types of cancers. Lead candidate HER-Vaxx is in phase 2 trial.
Imugene is well funded and resourced, to deliver on its commercial and clinical milestones. Recent clinical and patent activities entail conviction over the commercialization prospect of Imugene’s pipeline.
Recent insider acquisition of shares and patent grant in Europe and South Korea for its lead candidate have boosted investor sentiment.


Imugene (IMU AU): Research Partnerships and Fund-Raising Entail Conviction on Solid Tumors Pipeline

Australia

Imugene Limited is a health biotechnology development company.  The Company manufactures vaccines for gastric and breast cancer treatments. Imugene operates in Europe and Australia.

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Imugene Ltd (IMU AU)

ASX Short Interest Weekly (Oct 7th): CBA, BHP, Westpac, Wesfarmers, CSL

We analyzed ASX short interest report for the past week and highlight short interest changes in CBA, BHP, Westpac, Wesfarmers, CSL, South32,...

Ke Yan, CFA, FRM

Imugene (IMU AU) Placement: Extended Runway for Clinical Programs Pipeline at Modest Equity Dilution

Imugene is raising A$80M via institutional placement to extend clinical pipeline runway. The placement participants are two leading investors with...

Tina Banerjee

Imugene (IMU AU): Clinical Trial Continued to Advance; Cash Position Still Strong

Imugene has dosed first patient from the third cohort of the Checkvacc phase 1 clinical trial. The company’s cash position is strong and can...

Tina Banerjee

Imugene (IMU AU): Promising Pipeline And Financial Muscle Power Are Biggest Strengths

Management, in its letter to shareholders has shown their conviction on the company’s ability to advance its pipeline. Imugene is also well-funded...

Tina Banerjee

Imugene (IMU AU): Research Partnerships and Fund-Raising Entail Conviction on Solid Tumors Pipeline

Imugene's novel technologies to smash solid tumors and research partnerships with large global pharmaceutical companies entail better visibility...

Tina Banerjee

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