IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

CARsgen Therapeutics IPO: Valuation Insights

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Global Equity Research Ltd

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Equity Capital Markets

CARSgen Therapeutics / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/carsgen-therapeutics-ltd" target="_blank" data-smartkarma-citation="entities:32213:1" rel="noopener">CARSgen Therapeutics (1186504D CH)</a> is a biopharma focused on innovative CAR-T cell therapies for the treatment of haematological malignancies and solid tumours. CARsgen opines that is a key player in the field of CAR-T cell therapies. CARsgen is pre-marketing an HKEx IPO to raise proceeds of $400-500 million, according to press reports. Five CAR-T products, Kymriah, Yescarta, Tecartus, Breyanzi and Abecma, have been approved by the FDA for marketing in the US. However, there is no CAR-T cell therapy approved by the NMPA for marketing in China. The total revenue of Kymriah, Yescarta and Tecartus in 2020 was $1.1 billion (source: Frost &amp; Sullivan) which highlights the market opportunity. <div class="content-highlight">CARsgen has developed a pipeline of 11 product candidates, including six at the clinical stage. CARsgen owns the global rights to its product candidates and technologies, all of which are developed in-house. The sole core product candidate is CT053. Overall, we believe that the promising prospects for the lead product, a credible management team and a good shareholder register make the IPO worth a closer look. </div>

CARSgen Therapeutics (1186504D CH) is a biopharma focused on innovative CAR-T cell therapies for the treatment of haematological malignancies and solid tumours. CARsgen opines that is a key player in the field of CAR-T cell therapies. CARsgen is pre-marketing an HKEx IPO to raise proceeds of $400-500 million, according to press reports. Five CAR-T products, Kymriah, Yescarta, Tecartus, Breyanzi and Abecma, have been approved by the FDA for marketing in the US. However, there is no CAR-T cell therapy approved by the NMPA for marketing in China. The total revenue of Kymriah, Yescarta and Tecartus in 2020 was $1.1 billion (source: Frost &amp; Sullivan) which highlights the market opportunity. CARsgen has developed a pipeline of 11 product candidates, including six at the clinical stage. CARsgen owns the global rights to its product candidates and technologies, all of which are developed in-house. The sole core product candidate is CT053. Overall, we believe that the promising prospects for the lead product, a credible management team and a good shareholder register make the IPO worth a closer look. 

Zhejiang Jolly Pharmaceutical (300181 CH)

CARsgen Therapeutics IPO Initiation: Choosing Therapies À La CAR-T