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

Innovent Biologics IPO Valuation: Surprisingly Grounded in Reality

BeiGene IPO Preview: Lucrative Lifesavers

Innovent Biologics IPO Preview: Limited Upside on China's PD-1 Drug Market Compared to BeiGene

Hua Medicine IPO Preview: Suffering from the Ascletis Over-Valuation Syndrome

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Innovent Biologics Inc / Equity Capital Markets

<p>Despite a recent spell of lacklustre early-stage biotech flotations that have slumped post-IPO, <a href="https://www.smartkarma.com/entities/27452" target="_blank" data-smartkarma-citation="entities:27452:1">Innovent Biologics Inc (1801 HK)</a>'s shares popped 19% on its debut in Hong Kong. Post the first-day share price pop; we advise IPO investors to take money off the table. Our analysis suggests that the current share price already factors in ambitious targets regarding peak market share and terminal EBIT margin for its key late-stage drug (<em>sintilimab</em>).</p>

Despite a recent spell of lacklustre early-stage biotech flotations that have slumped post-IPO, Innovent Biologics Inc (1801 HK)'s shares popped 19% on its debut in Hong Kong. Post the first-day share price pop; we advise IPO investors to take money off the table. Our analysis suggests that the current share price already factors in ambitious targets regarding peak market share and terminal EBIT margin for its key late-stage drug (sintilimab).

Innovent Biologics IPO First-Day: Take Money off the Table