In today’s briefing:
- Shanghai Henlius Biotech (2696 HK) – Thoughts on 2024 Results And the H Share Full Circulation
- AbbVie Inc.: An Analysis Of Its Immunology Market Expansion, Oncology Pipeline & ADC Strategy!
- Duality Biotherapeutics (映恩生物) Pre-IPO: A Closer Look at Its Core Products
- HLB Life Science (067630 KS): FDA Rejects Oncology Drug AGAIN; What Lies Ahead
- ADAP 4Q24 Earnings: EPS Miss on 1x Restructuring/Impairment Costs Potential Capital Raise Adds Risk to the Story
Shanghai Henlius Biotech (2696 HK) – Thoughts on 2024 Results And the H Share Full Circulation
- Henlius has made a profit for the second year in a row.However, some investors are not satisfied with the quality of net profit growth in 2024 due to concerns behind.
- The implementation of H Share Full Circulation has a positive impact on financing ability, shareholder returns, market valuation of Henlius.The next goal is to be included in HK Stock Connect
- Lin Lijun’s continuous increase in Henlius holdings is an important reason for shares surge after privatization failure.Lin may keep pushing up share price so as to exit at higher price.
AbbVie Inc.: An Analysis Of Its Immunology Market Expansion, Oncology Pipeline & ADC Strategy!
- AbbVie Inc. concluded 2024 with robust performance metrics, highlighted by a notable return to growth, despite significant challenges such as the $5 billion U.S. Humira sales erosion due to biosimilar competition.
- The company reported a total revenue of $56.3 billion, surpassing its initial guidance by over $2 billion, with adjusted earnings per share recorded at $10.12, which is $0.49 above their previously forecasted midpoint.
- On a segmented basis, AbbVie’s “ex-Humira” platform, consisting primarily of Skyrizi and Rinvoq, demonstrated substantial growth.
Duality Biotherapeutics (映恩生物) Pre-IPO: A Closer Look at Its Core Products
- Duality Biotherapeutics, a China-based clinical-stage biotechnology company, plans to raise up to US$250m via a Hong Kong listing.
- We looked at the latest prospectus and noted it toned down the language and strengthened its team.
- We also compare the clinical readings of its core products with benchmark products.
HLB Life Science (067630 KS): FDA Rejects Oncology Drug AGAIN; What Lies Ahead
- HLB Life Science (067630 KS) shares lost ~20% since March 20 to trade near five-year lows after a group company, Elevar Therapeutics faced setback regarding a new cancer drug application.
- FDA has rejected Elevar’s new drug application of its lead proprietary drug candidate, rivoceranib in combination with camrelizumab as a therapy for advanced or metastatic hepatocellular carcinoma.
- This is the second time that the FDA declined to approve the drug combo. Elevar plans to promptly supplement the trial result and apply for reapproval to the FDA.
ADAP 4Q24 Earnings: EPS Miss on 1x Restructuring/Impairment Costs Potential Capital Raise Adds Risk to the Story
- Key 4Q24 takeaways include: 1) Tecelra launch ahead of expectations based on the number of patients apheresed thus far and ATCs up and running, with management expressing confidence in generating at least $25 million of Tecelra sales in 2025 2) Lete-cel on track for a quicker commercialization timeline, with an expected rolling BLA submission in late 2025 followed by FDA approval in 2026 3) senior executives recently further narrowed R&D and capital allocations by pausing spending on the company’s PRAME and CD70 programs, which is anticipated to generate $75 million to $100 million of cost savings through 2028 (on top of the $300 million of savings announced last quarter) and 4) despite anticipated cost reductions over the next several years, management conceded the need for incremental capital to remain a going concern through anticipated profitability in 2027, and recently engaged an investment bank to evaluate potential partnerships, strategic collaborations, business combinations, financial transactions, and/or pipeline monetizations.
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