In today’s briefing:
- Quiddity Leaderboard for Hang Seng Index Sep 24: New Economy? Clean Energy? or Shipping?
- Haw Par Corp (HPAR SP): Unleash the Tiger, Unlock Shareholder Value
- (Desperate) Takeover Bid in the Making
- Kelun-Biotech IPO Lock-Up Expiry – Strong Performance Leaves Pre-IPO Investors with Large Gains
- XFOR: Positive Interim Data from Ongoing Phase 2 Trial of Mavorixafor in Chronic Neutropenia Patients
- BIOR: BT-600 Topline
- REVB: Positive Results Set Stage for Next Step
- Depending on how long it takes medical venues to review the Hemopurifier data & potentially approve moving forward
Quiddity Leaderboard for Hang Seng Index Sep 24: New Economy? Clean Energy? or Shipping?
- In this insight, we take a look at a group of names with reasonably high likelihood of being involved in index changes for the Hang Seng Index in September 2024.
- The index changes for the September 2024 index rebal will be announced on 16th August 2024.
- The HSI selection process is highly subjective and does not follow clear-cut rules. This insight is simply an attempt to provide readers with an overall understanding of the possible scenarios.
Haw Par Corp (HPAR SP): Unleash the Tiger, Unlock Shareholder Value
- Haw Par Corp (HPAR SP), with a rich investment portfolio and an attractive consumer health care business, trades at 4% dividend yield but at a steep discount to SOTP value.
- The recent rise in share price of UOB (UOB SP) , where it holds a 4.5% stake, has widened this discount.
- We believe the management can unlock immense value for share holders by de-merging the consumer healthcare business and publicly listing it.
(Desperate) Takeover Bid in the Making
- Grifols’ founding families and Brookfield ask the Board for the necessary information to evaluate an offer for 100% of Grifols SA (GRF SM). The CNMV has halted trading in the shares.
- Grifols is worth €5.5 billion, after plummeting 39% in 2024. The deal smacks of desperation from the founding families, worried not to lose control of the company to debt holders.
- There should be a minimum premium to guarantee offer success, at least 15% to current share price (maybe even 30%). B shares are protected in case of takeover.
Kelun-Biotech IPO Lock-Up Expiry – Strong Performance Leaves Pre-IPO Investors with Large Gains
- Kelun Biotech (KB) raised around US$170m in its IPO in July 2023, the lockup on its pre-IPO shareholders is set to expire soon.
- KB is a China-based integrated innovative biopharmaceutical company. It has accumulated more than ten years of experience in antibody drug conjugates (ADC) development.
- In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.
XFOR: Positive Interim Data from Ongoing Phase 2 Trial of Mavorixafor in Chronic Neutropenia Patients
- On June 27, 2024, X4 Pharmaceuticals, Inc. (XFOR) announced positive interim results from the company’s ongoing Phase 2 trial of mavorixafor in patients with chronic neutropenia (CN).
- The data showed that treatment with mavorixafor, as either a monotherapy or in combination with granulocyte colony-stimulating factor (G-CSF) was generally well tolerated and led to durable increases in patients’ absolute neutrophil counts.
- The company also announced that it has begun screening patients for enrollment into the Phase 3 clinical trial of mavorixafor in people with congenital, acquired primary immune, or idiopathic CN who are experiencing recurrent and/or serious infections.
BIOR: BT-600 Topline
- Biora is a drug-device company developing smart pills for GI diseases and enabling oral delivery of biologics.
- Its pipeline features two assets: NaviCap, for targeted drug delivery in GI diseases & BioJet, for oral delivery of biologics.
- NaviCap’s BT-600 trial has reported its SAD & MAD topline & will advance to a Phase Ib. BioJet is on the cusp of a deal & may advance into the clinic through the efforts of pharma partners.
REVB: Positive Results Set Stage for Next Step
- Revelation Biosciences is a life sciences company whose development of immunologic-based therapies is based on the well-established biology of phosphorylated hexaacyl disaccharide (PHAD) and its effect on the innate immune system.
- The company announced data from its Phase 1 clinical study of its Gemini treatment.
- These results were extremely positive and represent a major step forward for Revelation.
Depending on how long it takes medical venues to review the Hemopurifier data & potentially approve moving forward
- Depending on how long it takes medical venues to review the Hemopurifier data & potentially approve moving forward, we believe clinical efforts could begin in 2H24.
- AEMD had cash of about $9.1M as of June 25, 2024, to support its efforts, following a recent capital raise.
- The company also believes it has a sufficient supply of Hemopurifiers for its planned oncology trials.
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