HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

MicroPort MedBot (2252.HK)- Lack an “anchor” for Valuation Due to Uncertainties in Commercialization

Topsports International (6110.HK) - Has the Potential to Turn Things Around Despite the Headwinds

Topsports International: CCP's ZERO COVID Policy Has a Bigger Whopper Impact than Cheap Valuations

Akeso Biopharma Inc (9926.HK) - Caution Is Advised Until Sufficient Financing Is Secured

Alibaba Health Information Technology (241.HK) - It’s Not Easy to Break a Deadlock

Shanghai Junshi Bioscience Placement- Junshi Is Having a Hard Time, with Lower than Expected Returns

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Capital Markets

Akeso Biopharma Inc / Equity Capital Markets

<ul>
<li>The current stock price is not high. Akeso is reluctant to diluting its shareholders too much. So, it plans to raise just HK$576.65 million, which won’t bring any fundamental change.</li>
<li>
<a href="https://www.smartkarma.com/entities/akeso-biopharma-inc" target="_blank" data-smartkarma-citation="entities:28830:1" rel="noopener">Akeso (9926 HK)</a>’s conservative management style, development mode, low cash balance and FDA’s “Guidance” on bispecific antibodies would limit the Company’s future development pace, commercialization, internationalization and valuation expansion prospects. </li>
<li>We do not think Akeso is attractive at present, unless the Company could hit some big license-out deals, or IPO on SSE STAR Market to secure enough funds in advance. </li>
</ul>


The current stock price is not high. Akeso is reluctant to diluting its shareholders too much. So, it plans to raise just HK$576.65 million, which won’t bring any fundamental change.

Akeso (9926 HK)’s conservative management style, development mode, low cash balance and FDA’s “Guidance” on bispecific antibodies would limit the Company’s future development pace, commercialization, internationalization and valuation expansion prospects. 
We do not think Akeso is attractive at present, unless the Company could hit some big license-out deals, or IPO on SSE STAR Market to secure enough funds in advance. 


Akeso Biopharma Placement (9926.HK) - The Concerns Behind and the Outlook