Daily Brief Health Care: Lunit , Pro Medicus Ltd, CEL-SCI , Abbvie Inc, Satellos Bioscience , Inventurus Knowledge Solutions, Basilea Pharmaceutica Ag and more

• In this insight, we discuss the potential alpha generation from new entries in the “KOSDAQ Rising Stars.”
• For the KOSDAQ Rising Stars New Entries in 2023, there was a massive outperformance. Of course, we want to reiterate that past performance is NOT indicative of future performance.
• On 28 August 2024, KRX provided a list of 39 KOSDAQ Rising Stars companies (including 29 existing ones and 10 new companies).

• With 2 days left to review cutoff, there could be 1 inclusion and 3 deletions for the index at the September rebalance.
• Even if there are no constituent changes, capping changes will lead to one-way turnover of 4.4% and a round-trip trade of A$212m.
• The final list of inclusions/exclusions will depend on price movements till Friday and whether the index provider makes any significant changes to the free float of stocks in the universe.

• CEL-SCI is developing two platforms: Multikine and LEAPS.
• Multikine has completed a Phase 3 trial for head and neck cancer while LEAPS is conducting preclinical studies for RA, Pandemic Flu and breast cancer.
• In June 2021, CEL-SCI reported selected data from its IT-MATTERS trial demonstrating a benefit in the non-chemotherapy population.

• AbbVie has demonstrated a robust financial performance in the second quarter of 2024, affirming the company’s strong positioning in the biopharmaceutical industry.
• Under the new leadership of CEO Rob Michael, AbbVie has experienced a promising trajectory with several of its key products and pipeline developments standing out.
• However, as with any investment, there are a multitude of factors to consider, including challenges that might influence future performance.

• On August 12, 2024, Satellos Bioscience Inc. (MSCLF) announced financial results for the second quarter of 2024 and provided a business update.
• The company announced new data from a canine model of Duchenne muscular dystrophy (DMD) that showed treatment with SAT-3247 led to an increase in Regeneration Index, which measures the number of newly regenerated muscle fibers compared to the number of damaged and dying muscle fibers.
• Satellos also recently announced the acceptance of a regulatory filing to commence a Phase 1 clinical trial of SAT-3247.

• Inventurus Knowledge Solutions (IKSINCD IN) is looking to raise up to US$400m in its upcoming India IPO. The deal will be run by ICICI, JM Financial, Jefferies, Nomura and JPM. 
• Inventurus Knowledge Solutions (Inventurus from hereon) is a technology-enabled healthcare solutions provider, offering a care enablement platform which assists physician enterprises in the US, Canada and Australia. 
• Its physician-oriented platform includes clinical documentation solutions, patient scheduling assistance, automated prescription refill solutions and clinical document management, amongst others. 

Basilea has announced yet another milestone following the European Commission (EC) approval for Cresemba’s use in the paediatric population (in invasive aspergillosis (IA) or mucormycosis (IM)). The approval extends the market exclusivity of Cresemba by two years to October 2027, which triggered a CHF10m milestone payment from Pfizer, its European license partner. The EU nod follows the December 2023 approval in the US in the same indications, making Cresemba the first azole to be approved for children across the two key regions (it has been approved for adults since 2015). Cresemba reported strong in-market sales in H124, and the second half of the year is expected to be milestone rich with another CHF25–30m in payments expected, based on management guidance.