In today’s briefing:
- Moderna (MRNA US): Blowout Q1 Results; Maintained Guidance; Visibility Beyond COVID
- Pharmaessentia Corp (6446 TT): Key Drug Is Advancing Commercialization Globally
- CapVest Scheme Meeting on 6 Jun, CapVest Takeover Offer Open 6 May to 5 July
- Yunkang Group IPO – Has Improved Its Operating Metrics, but Still Reliant on COVID Boost
Moderna (MRNA US): Blowout Q1 Results; Maintained Guidance; Visibility Beyond COVID
- Moderna Inc (MRNA US) reported strong Q1 results, with revenue and EPS beating consensus by 33% and 65%, respectively. The company reiterated 2022 Covid vaccine sales guidance of $21 billion.
- With the pandemic likely to evolve into and endemic phase with a more seasonal sales pattern, Moderna is advancing its vaccine and therapeutic pipeline beyond COVID.
- Beginning in the fall of 2022, Moderna could see three respiratory commercial launches over the next two to three years. Moderna is looking for potential M&A opportunities across the globe.
Pharmaessentia Corp (6446 TT): Key Drug Is Advancing Commercialization Globally
- Pharmaessentia Corp (6446 TT) is advancing global commercialization of its flagship drug, Besremi, the first FDA-approved medication for polycythemia vera that patients can take regardless of their treatment history.
- Thus far, Besremi has been commercialized for polycythemia vera in 23 countries. Launch preparation is underway in four geographies including Japan, China, Singapore, and Hong Kong.
- The company is conducting clinical trials for Besremi for other indications, including COVID-19. Pharmaessentia also has a rich pipeline of clinical-stage drug candidates.
CapVest Scheme Meeting on 6 Jun, CapVest Takeover Offer Open 6 May to 5 July
- The CapVest scheme meeting is scheduled for 6 June and the CapVest takeover offer runs from 6 May to 5 July. The BGH takeover is open and ends 20 May.
- The independent expert has concluded that both CapVest and BGH’s proposals are fair and reasonable. Virtus Health (VRT AU) shares currently trade above both proposals.
- With BGH unwilling to concede to CapVest, it is likely that BGH increases its 20.02% stake at a higher price than its takeover offer, resulting in a higher offer price.
Yunkang Group IPO – Has Improved Its Operating Metrics, but Still Reliant on COVID Boost
- Yunkang Group (YK HK) is looking to raise US$139m in its Hong Kong IPO.
- Yunkang Group is a medical operation service provider in China and as per F&S, had a market share of 3.7% in China’s medical operation service market as per 2020 revenue.
- Yunkang saw its full-year FY21 performance pulled up in the later half of the year. Number of tests administered had also surged 3.45x YoY in FY21.
Before it’s here, it’s on Smartkarma
