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.

China Healthcare Weekly (Dec.15)-BMS/Biokin $8.4B Eye-Popping Deal, NRDL Negotiation Result, Haoyuan

China's Central Economic Work Conference – Something You May Not Be Aware Of

Pfizer Inc (PFE US) - Continue to Lose Its Way in the Post-Pandemic Era

Pre-IPO HighTide Therapeutics - Its Outlook in NASH Field Is Not Optimistic, with High Risks

Pre-IPO Jiangxi Rimag Group - Unclear Profit Model, Uncertain Future Expansion, and Worrying Outlook

Wuxi Biologics (2269.HK) - The Business Update Has Torn Away the Last Fig Leaf

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

Equity Capital Markets

HighTide Therapeutics / Equity Capital Markets

<ul>
<li>Diseases with complex mechanisms like NASH are unlikely to be solved by drugs with a single target, but compared with THR-β and GLP-1s, our view on HTD1801’s prospects is negative.</li>
<li>HTD1801 faces high R&amp;D failure risk and challenges in obtaining the final approval for NASH indication. For T2DM indication, the current intense competitive landscape has dimmed its future commercialization prospects.</li>
<li>Several original shareholders have already cashed out in advance, indicating that they are not optimistic about the prospects of HighTide. The valuation premium space after IPO could be lower-than-expected.</li>
</ul>


Diseases with complex mechanisms like NASH are unlikely to be solved by drugs with a single target, but compared with THR-β and GLP-1s, our view on HTD1801’s prospects is negative.
HTD1801 faces high R&amp;D failure risk and challenges in obtaining the final approval for NASH indication. For T2DM indication, the current intense competitive landscape has dimmed its future commercialization prospects.
Several original shareholders have already cashed out in advance, indicating that they are not optimistic about the prospects of HighTide. The valuation premium space after IPO could be lower-than-expected.


Pre-IPO HighTide Therapeutics (PHIP Updates) - Some Shareholders Have Chosen to Quit in Advance