In today’s briefing:
- Kelun-Biotech (科伦博泰) Pre-IPO: Candidates Are Differentiated and Promising
- ASX Short Interest Weekly (Mar 24th): Pilbara Minerals, Aurizon, Arafura Rare Ear, New Hope
- Global Emerging Markets: Reporting Season Summary, 4Q2022
Kelun-Biotech (科伦博泰) Pre-IPO: Candidates Are Differentiated and Promising
- Kelun-Biotech, a China-based integrated innovative biopharmaceutical company, plans to raise up to US$ 300m via a Hong Kong listing.
- In this note, we examine the company’s two core products, namely SKB264, a TROP2-ADC, and A166, a HER2-ADC. We also look at the company’s management and pre-IPO investors.
- We think the company is worth investors attention with promising candidates. Its pre-IPO investor line-up is decent.
ASX Short Interest Weekly (Mar 24th): Pilbara Minerals, Aurizon, Arafura Rare Ear, New Hope
- We analyzed the changes in short interest of ASX Stocks as of Mar 24th (reported today) which has an aggregated short interest worth USD44.0bn.
- We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases & decreases in short value, short as multiple of ADT.
- We highlight short interest changes in Pilbara Minerals, Aurizon, Arafura Rare Ear, New Hope, Medibank Private, De Grey Mining.
Global Emerging Markets: Reporting Season Summary, 4Q2022
- The 200 largest weighted companies in the GEM index reported average EPS growth of +14.2%y/y for 4Q22-to-date, slightly down from the +15.7% reported for 3Q22.
- Only 54% of companies delivered positive sales surprises, and only 49% delivered positive EPS surprises, significantly down from the trend seen over the past 2 years.
- Historically, there has been a significant difference in relative share price performance between the largest positive versus negative surprise generators, for 3 months after the reporting date.
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