In today’s briefing:
- SK Chemical’s CEO Sells All His Shares of SK Bioscience
- HilleVax Pre-IPO: Lead Candidate Has Potential to Become First Approved Vaccine for Norovirus
- Abbott Laboratories (ABT US): 2022 High Conviction Idea 1Q22 Review- COVID Testing Bonanza Continues
SK Chemical’s CEO Sells All His Shares of SK Bioscience
- After the market close on 21 April, it was reported that SK Chemical’s CEO Jeon Kwang-Hyun sold all his shares (21,852 shares) of SK Bioscience from April 19th to 21st.
- The fact that the CEO of SK Chemical, the controlling shareholder of SK Bioscience, sold all his stake in the latter company does not bode well for SK Bioscience.
- The CEO of SK Chemical selling all his shares in SK Bioscience and increasing reluctance in getting more COVID booster shots suggest further downside risk for SK Bioscience.
HilleVax Pre-IPO: Lead Candidate Has Potential to Become First Approved Vaccine for Norovirus
- HilleVax (HLVX US), a novel vaccine developer intends to raise $100 million through an IPO. Its lead program HIL-214, intended to prevent norovirus infection is in phase 2 clinical trial.
- The number of shares to be offered and the price range are yet to be disclosed. Post listing, the company will trade under the ticker HLVX on the Nasdaq.
- HIL-214’s large addressable market, with huge unmet need, HilleVax’s earlier fund-raising history, and Takeda’s backing are some of the positives of this new offering.
Abbott Laboratories (ABT US): 2022 High Conviction Idea 1Q22 Review- COVID Testing Bonanza Continues
- Abbott Laboratories (ABT US) reported better-than-expected Q1 revenue and earnings, due to higher diagnostic revenue led by strong COVID-19 testing revenue. 2022 adjusted EPS guidance remains unchanged.
- In Q1, global COVID-19 testing-related sales reached to a record high of $3.3 billion, representing 28% of total revenue. COVID-19 testing revenue guidance was raised to $4.5 billion for 2022.
- Medical devices business reported double-digit organic revenue growth in the U.S. as well as international market, showing continued recovery in the elective procedures.
Before it’s here, it’s on Smartkarma
