HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

<ul>
<li>Although UGenix is a genetic technology company focusing on prenatal testing/precision oncology, it was the large-scale COVID-19 testing demand that made UGenix's overall revenue grow rapidly, which, however, is unsustainable.</li>
<li>NIPT market size is far less than expected. The clinical need for NGS has not developed as rigid demand. Restrictions on companion diagnosis pricing indicate market space would be compressed.</li>
<li>The business of both prenatal testing and precision oncology are not easy. Due to uncertain commercialization outlook/profitability and other negative factors, UGenix’s stock price after IPO could underperform.</li>
</ul>


Although UGenix is a genetic technology company focusing on prenatal testing/precision oncology, it was the large-scale COVID-19 testing demand that made UGenix's overall revenue grow rapidly, which, however, is unsustainable.
NIPT market size is far less than expected. The clinical need for NGS has not developed as rigid demand. Restrictions on companion diagnosis pricing indicate market space would be compressed.
The business of both prenatal testing and precision oncology are not easy. Due to uncertain commercialization outlook/profitability and other negative factors, UGenix’s stock price after IPO could underperform.


Pre-IPO UGenix Biotech - Future Growth Potential Is Highly Uncertain

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UGenix Biotech (UG34 HK)

Pre-IPO UGenix Biotech - Future Growth Potential Is Highly Uncertain

Due to gloomy commercialization outlook, it is challenging for UGenix to receive decent valuation premium after IPO. As the COVID-19 dividend...

Xinyao (Criss) Wang

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