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

<ul><li>This is our first report on Mirati Therapeutics Inc., a pharmaceutical firm specializing in cancer treatment.</li><li>The company has shown significant potential with a robust pipeline and innovative programs targeting areas of cancer with large unmet needs.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

This is our first report on Mirati Therapeutics Inc., a pharmaceutical firm specializing in cancer treatment.The company has shown significant potential with a robust pipeline and innovative programs targeting areas of cancer with large unmet needs.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Mirati Therapeutics: Initiation of Coverage - Inside the Strategy Poised to Skyrocket KRAZATI's Market Share in 2023! - Major Drivers

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Jacobio Pharmaceuticals / Equity Capital Markets

<ul>
<li>There is limited breakthrough points in the field of small molecule drugs. Except those big varieties, the market space of small-molecular drugs is not optimistic due to small applicable population.</li>
<li>For KRAS, it just crossed the threshold of druggablility, but the whole pathway hasn’t shown the feeling of being a blockbuster variety, which would dampen the optimism of Jacobio's valuation.</li>
<li>Jacobio is among the few biotech under Chapter 18A who really develop drugs seriously. Therefore, despite the challenging outlook, we hoped that Dr. Yinxiang Wang would finally break through.</li>
</ul>


There is limited breakthrough points in the field of small molecule drugs. Except those big varieties, the market space of small-molecular drugs is not optimistic due to small applicable population.
For KRAS, it just crossed the threshold of druggablility, but the whole pathway hasn’t shown the feeling of being a blockbuster variety, which would dampen the optimism of Jacobio's valuation.
Jacobio is among the few biotech under Chapter 18A who really develop drugs seriously. Therefore, despite the challenging outlook, we hoped that Dr. Yinxiang Wang would finally break through.


Jacobio Pharmaceuticals Placement (1167.HK) - We Keep Hope for Jacobio Because of Dr. Wang Yinxiang

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

<ul>
<li>
<a href="https://www.smartkarma.com/entities/revolution-medicines-inc" target="_blank" data-smartkarma-citation="entities:36535:1" rel="noopener">Revolution Medicines (RVMD US)</a>  is focused on therapies to inhibit frontier targets in RAS-addicted cancers. The company’s pipeline is among the strongest in small-cap biotech. </li>
<li>We expect Revolution Medicines shares to outperform the market over the next 12 months as solid performance from the RAS(ON) inhibitor pipeline and oral inhibitor of SHP2 continues. </li>
<li>Investors gain confidence in the rest of the RAS(ON) inhibitor pipeline, including RMC-6291, RMC-6236, and RMC-5552. Management will provide topline data from RMC-4630-03 in 2H 2023. </li>
</ul>



Revolution Medicines (RVMD US)  is focused on therapies to inhibit frontier targets in RAS-addicted cancers. The company’s pipeline is among the strongest in small-cap biotech. 
We expect Revolution Medicines shares to outperform the market over the next 12 months as solid performance from the RAS(ON) inhibitor pipeline and oral inhibitor of SHP2 continues. 
Investors gain confidence in the rest of the RAS(ON) inhibitor pipeline, including RMC-6291, RMC-6236, and RMC-5552. Management will provide topline data from RMC-4630-03 in 2H 2023. 


2023 High Conviction: Revolution Medicines – Cracking The KRAS In Cancer

Thematic (Sector/Industry)

Industry viewpoints:
<ul class="">
<li>China released a new policy to support couples having a third child as the population ages.</li>
<li>A joint procurement office on behalf of medical institutions in 12 provinces was formed to carry out centralized procurement of orthopedic trauma medical consumables.</li>
<li>With the increasing incidence of diseases that directly cause skull defects, the skull defect repair material industry in China has developed rapidly.</li>
</ul>
Company news:
News about the updated license-in agreement and new progress on drugs of <a href="https://www.smartkarma.com/entities/innovent-biologics-inc" target="_blank" data-smartkarma-citation="entities:27452:1" rel="noopener">Innovent Biologics Inc (1801 HK), </a><a href="https://www.smartkarma.com/entities/zai-lab-ltd" target="_blank" data-smartkarma-citation="entities:25877:1" rel="noopener">Zai Lab Ltd (ZLAB US)</a>, <a href="https://www.smartkarma.com/entities/cspc-pharmaceutical-group-ltd" target="_blank" data-smartkarma-citation="entities:229:1" rel="noopener">CSPC Pharmaceutical Group (1093 HK),</a> and <a href="https://www.smartkarma.com/entities/jiangsu-hengrui-medicine-co-ltd" target="_blank" data-smartkarma-citation="entities:14128:1" rel="noopener">Jiangsu Hengrui Medicine (600276 CH)</a>.
Market review: 
Last week, stock price for healthcare sector in A share increased 0.69%, while CSI 300 decreased 0.73% over the same period of time.
Risk disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:

China released a new policy to support couples having a third child as the population ages.
A joint procurement office on behalf of medical institutions in 12 provinces was formed to carry out centralized procurement of orthopedic trauma medical consumables.
With the increasing incidence of diseases that directly cause skull defects, the skull defect repair material industry in China has developed rapidly.

Company news:
News about the updated license-in agreement and new progress on drugs of Innovent Biologics Inc (1801 HK), Zai Lab Ltd (ZLAB US), CSPC Pharmaceutical Group (1093 HK), and Jiangsu Hengrui Medicine (600276 CH).
Market review: 
Last week, stock price for healthcare sector in A share increased 0.69%, while CSI 300 decreased 0.73% over the same period of time.
Risk disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

On February 24, 2021, <a href="https://www.smartkarma.com/entities/apollomics-inc" target="_blank" data-smartkarma-citation="entities:32186:1" rel="noopener">Apollomics Inc (1435488D US)</a> applied to be listed on the main board of the Hong Kong Stock Exchange. The Company is an innovative biotechnology company focusing on the discovery and development of oncology therapies. Apollomics intends to use the proceeds of this fundraising for R&amp;D activities, preparation for registration filings, commercial process development, manufacturing registrational trial material, expansion of business and other general corporate purposes. The following mainly provided insights on its major products in the pipeline.

On February 24, 2021, Apollomics Inc (1435488D US) applied to be listed on the main board of the Hong Kong Stock Exchange. The Company is an innovative biotechnology company focusing on the discovery and development of oncology therapies. Apollomics intends to use the proceeds of this fundraising for R&amp;D activities, preparation for registration filings, commercial process development, manufacturing registrational trial material, expansion of business and other general corporate purposes. The following mainly provided insights on its major products in the pipeline.

Pre-IPO Apollomics - Concerns on Competition and Commercialization Despite Some Promising Products

United States

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.

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Mirati Therapeutics (MRTX US)

Jacobio Pharmaceuticals Placement (1167.HK) - We Keep Hope for Jacobio Because of Dr. Wang Yinxiang

Jacobio's situation and prospects are full of challenges, but Dr. Wang Yinxiang/Jacobio is among the few biotech under Chapter 18A who really...

Xinyao (Criss) Wang

2023 High Conviction: Revolution Medicines – Cracking The KRAS In Cancer

Oncology-focused unicorn Revolution Medicines is our high-risk/high-reward conviction idea for 2023 as we see room for further gains among select...

Andrei Zakharov

China Healthcare Weekly (Jun.4)

This insight mainly analyzed the three-child new policy, centralized procurement of orthopedic trauma medical consumables, skull defect repair...

Xinyao (Criss) Wang

Pre-IPO Apollomics - Concerns on Competition and Commercialization Despite Some Promising Products

This article provided insights on its major products in the pipeline in terms of competitive landscape, strength and challenges, as well as...

Xinyao (Criss) Wang

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52-week Range

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Mirati Therapeutics: Initiation of Coverage - Inside the Strategy Poised to Skyrocket KRAZATI's Market Share in 2023! - Major Drivers

This is our first report on Mirati Therapeutics Inc., a pharmaceutical firm specializing in cancer treatment. The company has shown significant...

Baptista Research

Jacobio Pharmaceuticals Placement (1167.HK) - We Keep Hope for Jacobio Because of Dr. Wang Yinxiang

Jacobio's situation and prospects are full of challenges, but Dr. Wang Yinxiang/Jacobio is among the few biotech under Chapter 18A who really...

Xinyao (Criss) Wang

2023 High Conviction: Revolution Medicines – Cracking The KRAS In Cancer

Oncology-focused unicorn Revolution Medicines is our high-risk/high-reward conviction idea for 2023 as we see room for further gains among select...

Andrei Zakharov

China Healthcare Weekly (Jun.4)

This insight mainly analyzed the three-child new policy, centralized procurement of orthopedic trauma medical consumables, skull defect repair...

Xinyao (Criss) Wang

Pre-IPO Apollomics - Concerns on Competition and Commercialization Despite Some Promising Products

This article provided insights on its major products in the pipeline in terms of competitive landscape, strength and challenges, as well as...

Xinyao (Criss) Wang