In today’s briefing:
- Chongqing Zhifei Biological Products (300122.CH) – WHO’s One-Dose HPV Vaccine Regimen & The Outlook
- Legend Biotech Corp (LEGN US): Carvykti Approval Is the Silver Lining Amid Uncertainty of Delisting
Chongqing Zhifei Biological Products (300122.CH) – WHO’s One-Dose HPV Vaccine Regimen & The Outlook
- Under the current policy in China, any minor changes to vaccine doses require a series of clinical data support and registration changes. So, WHO’s recommendation won’t affect Zhifei’s short-term performance.
- The increasing domestic competing HPV vaccines in the future would be a big threat to Zhifei’s agency business. Its self-developed products may not be strong enough to compensate.
- The performance in 2022 is expected to be solid before real challenge comes in 2024. The valuation logic and outlook won’t be brighten unless there’s new breakthrough in agency business.
Legend Biotech Corp (LEGN US): Carvykti Approval Is the Silver Lining Amid Uncertainty of Delisting
- Legend Biotech Corp (LEGN US) received FDA approval for its first product Carvykti in February as a fifth-line treatment of relapsed or refractory multiple myeloma.
- Label expansion of Carvykti for earlier line of multiple myeloma treatments should expand addressable market, thereby increasing peak sales opportunity to $5 billion from initial expectation of $1.5 billion.
- The U.S. Securities and Exchange Commission has added Legend to their delisting watchlist last week. The company needs to release required evidence by May 3 to stay listed.
Before it’s here, it’s on Smartkarma