Daily Brief Health Care: Rigaku Holdings, Akeso Biopharma Inc, Acasti Pharma, Fortrea Holdings , Nurexone Biologic, Scilex Holding and more

• Rigaku Holdings (268A JP) is scheduled to be listed at the Tokyo Stock Exchange on 25 October 2024 at a valuation of ~$1.9bn.
• The company’s modest market capitalization fails fast-entry but easily surpasses the quarterly small cap thresholds of both main global indices.
• Rigaku Holdings (268A JP)  is expected to be added at the May and June 2025 quarterly reviews with the potential greenshoe exercise increasing the passive fund demand upon inclusion.

• Akeso Biopharma Inc (9926 HK) is looking to raise around US$200m from its primary placement. Proceeds from the placement will be used for R&D.
• Past deals in the name haven’t done well recently but the shares have been doing well and the deal size remains small.
• In this note, we talk about the deal dynamics and run the deal through our ECM framework.

• Acasti Pharma is making progress in developing IV nimodipine for acute subarachnoid hemorrhages
• Lead asset GTX-104 is the primary focus of their development efforts
• Successful PIPE offering and enrollment in Phase 3 trial put Acasti Pharma on track for potential FDA approval

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Fortrea’s second quarter 2024 earnings elucidate a blend of progression and challenges in its trajectory as an independent pure-play Clinical Research Organization (CRO).
• Following the spin-off from its parent company, the organization targets both growth from biotechnology firms and expanded engagements with large pharmaceutical companies.
• CEO Tom Pike articulated Fortrea’s leveraging of its robust services across various clinical trial phases and several therapeutic areas to enhance its market position, but also acknowledged uncertainties in contracting with biotech firms that have skewed the company’s book-to-bill ratio below the target of 1.2, marking it at just under 1 this quarter.

• NurExone (OTC-NRXBF) is a preclinical stage biotech company that is developing a breakthrough treatment for spinal cord injuries that has the potential to dramatically improve lives.
• The technology involved also has the potential to more efficiently get other treatments to the needed area.
• The company has conducted preclinical testing that has shown dramatic results and has been awarded an important FDA designation.

• SCLX is filling a much-needed area of the health care sector, that of developing non-opioid pain relief products.
• The company already has commercialized products that are proven to improve patients’ lives.
• The company announced a financing deal that helps to pay off debt and adds cash at good terms.