Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

AiHuiShou International IPO: Hand-Me-Down

Kanzhun IPO: Thoughts on First Day Trading

AiHuiShou IPO: Peer Comparison and Valuation

CARSgen Therapeutics IPO: Catalyzing Cancer Therapies

Kanzhun IPO: Peer Comparison and Valuation

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

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

CARSgen Therapeutics / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/carsgen-therapeutics-ltd" target="_blank" data-smartkarma-citation="entities:32213:1" rel="noopener">CARSgen Therapeutics (2171 HK)</a>  has announced the indicative price range for its IPO at HK$29.6-32.8 per share. The company plans to issue approx. 94.7m shares and at the midpoint of the IPO price range of HK$31.2 per share, CARsgen will raise net proceeds of HK$2.8bn (approx. US$363.3m) at a market capitalisation of HK$17.7bn and a post-money EV of HK$13.7bn.</p><p>In our previous insight on the company’s IPO <a href="https://www.smartkarma.com/insights/carsgen-therapeutics-ipo-catalyzing-cancer-therapies" target="_blank" data-smartkarma-citation="insights:52243" rel="noopener">CARSgen Therapeutics IPO: Catalyzing Cancer Therapies</a> , we discussed CARsgen’s product pipeline and their potential. The company has not yet started generating revenues as it does not have any commercialised product. The company’s core product candidate CT053, BCMA-targeted CAR-T product candidate for the treatment of refractory/relapsed multiple myeloma (R/R MM) shows significant potential and CARsgen plans to submit a NDA to the NMPA in 1H2022.</p>

CARSgen Therapeutics (2171 HK)  has announced the indicative price range for its IPO at HK$29.6-32.8 per share. The company plans to issue approx. 94.7m shares and at the midpoint of the IPO price range of HK$31.2 per share, CARsgen will raise net proceeds of HK$2.8bn (approx. US$363.3m) at a market capitalisation of HK$17.7bn and a post-money EV of HK$13.7bn.In our previous insight on the company’s IPO CARSgen Therapeutics IPO: Catalyzing Cancer Therapies , we discussed CARsgen’s product pipeline and their potential. The company has not yet started generating revenues as it does not have any commercialised product. The company’s core product candidate CT053, BCMA-targeted CAR-T product candidate for the treatment of refractory/relapsed multiple myeloma (R/R MM) shows significant potential and CARsgen plans to submit a NDA to the NMPA in 1H2022.

CARsgen Therapeutics IPO: Limited Upside as Most Drug Candidates Are in Phase I Studies