Research from ACF Equity Research, ACF Equity Research

ACF Equity Research

Research from ACF Equity Research

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ACF was set up to improve the effectiveness of capital markets for smaller and mid-sized companies. The majority of jobs are created by smaller companies not global companies. If we can help improve companies use of capital markets more projects will be completed, more jobs created, more global GDP grown, which in turn helps create more resources for education, leading to equality and opportunity for those who are still oppressed by ignorance and poverty.

ACF Equity Research is an independent research house specialising in the highest specification independent equity research for corporate clients.

We deliver premium independent corporate sponsored equity research characterised by its accuracy, clarity and foresight based upon a fundamental valuation approach.

Our independent research is designed to educate our professional investor readers about your company, with an emphasis on clear and accurate explanations. Our mission is to improve company’s liquidity through credible equity research services, excellent international distribution and reliable access for investment managers.

We believe in the importance and value of clarity, the careful articulation of technical ideas, concepts and solutions.

Our team of analysts are independently minded individuals who believe in thoroughness, technical competence and clear punchy communications.

Equity Bottom-Up

BrainStorm Cell Therapeutics I / Equity Bottom-Up

BrainStorm Cell Therapeutics Inc. is a biotechnology company developing autologous adult stem cell therapies for neurodegenerative disorders such as Amyotrophic Lateral Sclerosis (ALS), Multiple Sclerosis (MS) and Parkinson's disease (PD).

<ul><li>BrainStorm Cell Therapeutics Inc. (Nasdaq: BCLI, Biotech) is focused on developing autologous mesenchymal stem cell (MSC) therapies for the treatment of neurodegenerative diseases (NDDs) – BCLI’s primary target is the fatal amyotrophic lateral sclerosis (ALS/MND/Lou Gehrig’s).</li><li>Post hoc analysis of BCLI’s PIII trial data shows BCLI’s NurOwn® (debamestrocel, MSC-NTF), has statistically significant clinical effects on early-stage ALS sufferers and that placebo trialists deteriorate faster.</li><li>Peer reviewed research (Mar 2024) indicated that BCLI’s NurOwn® has a positive impact on NfL biomarkers for ALS.</li></ul>

BrainStorm Cell Therapeutics Inc. (Nasdaq: BCLI, Biotech) is focused on developing autologous mesenchymal stem cell (MSC) therapies for the treatment of neurodegenerative diseases (NDDs) – BCLI’s primary target is the fatal amyotrophic lateral sclerosis (ALS/MND/Lou Gehrig’s).Post hoc analysis of BCLI’s PIII trial data shows BCLI’s NurOwn® (debamestrocel, MSC-NTF), has statistically significant clinical effects on early-stage ALS sufferers and that placebo trialists deteriorate faster.Peer reviewed research (Mar 2024) indicated that BCLI’s NurOwn® has a positive impact on NfL biomarkers for ALS.

BrainStorm Cell Therapeutics (BCLI) Initiation 11062024

AbbVie Inc. researches and develops pharmaceutical products. The Company produces pharmaceutical drugs for specialty therapeutic areas such as immunology, chronic kidney disease, Hepatitis C, women's health, oncology, and neuroscience. AbbVie also offers treatments for diseases including Multiple Sclerosis, Parkinson's, and Alzheimer's disease.

<ul><li>Regenerative medicine remains an extremely exciting area of healthcare with vast investment potential.</li><li>In spite of the usual setbacks in valuation and strategy, the sub-sector has pivoted and the market remains innovative and attracts investment capital.</li><li>Rather than replace entire tissues, which is a complex activity, we believe the immediate future for stem cells is more likely to be in the successful stimulation of the bodies on repair mechanisms.</li></ul>

Regenerative medicine remains an extremely exciting area of healthcare with vast investment potential.In spite of the usual setbacks in valuation and strategy, the sub-sector has pivoted and the market remains innovative and attracts investment capital.Rather than replace entire tissues, which is a complex activity, we believe the immediate future for stem cells is more likely to be in the successful stimulation of the bodies on repair mechanisms.

Abbvie Inc - Regenerative Healthcare - Stem Cells & ALS Thematic 10062024

Ciel Limited operates as a diversified investment company. The Company targets investments involved in the agricultural industry and property, financial services, healthcare, hospitality, and textiles industries. Ciel focuses on portfolio holdings across Mauritius, Africa and Asia.

<ul>
<li>CIEL Limited (SEMDEX: CIEL) is a Mauritius listed diversified industrial company and one of the last great growth opportunities - Asia and Africa.</li>
<li>CIEL operates across 6 ‘clusters’ - Textile, Properties, Healthcare, Hotels &amp; Resorts, Finance and Agro.</li>
<li>CIEL’s 9M24 results put CIEL very comfortably ahead of our YE24E forecasts for EBITDA, EAT and EPS.</li>
</ul>


CIEL Limited (SEMDEX: CIEL) is a Mauritius listed diversified industrial company and one of the last great growth opportunities - Asia and Africa.
CIEL operates across 6 ‘clusters’ - Textile, Properties, Healthcare, Hotels &amp; Resorts, Finance and Agro.
CIEL’s 9M24 results put CIEL very comfortably ahead of our YE24E forecasts for EBITDA, EAT and EPS.


Ciel Limited (CIEL) Post Results 9M24A 06062024

Itaconix plc develops specialty polymers. The Company designs, manufactures, and formulates functional polymers to improve the performance of consumer and industrial products. Itaconix serves the home and personal care and industrial markets worldwide.

<ul>
<li>Itaconix Plc’s (AIM: ITX.L, OTC: ITXXF) vision - safer chemicals in consumer goods.</li>
<li>ITX makes IP protected innovative bio-polymers that replace acrylic acid and styrene based polymers (US$ 20bn market) in consumer products.</li>
<li>IA polymers have commercial applications in consumer and specialty chemicals markets including detergents markets as water softeners and dispersants; odour capture markets and hair products markets for hold, texture and flexibility.</li>
</ul>


Itaconix Plc’s (AIM: ITX.L, OTC: ITXXF) vision - safer chemicals in consumer goods.
ITX makes IP protected innovative bio-polymers that replace acrylic acid and styrene based polymers (US$ 20bn market) in consumer products.
IA polymers have commercial applications in consumer and specialty chemicals markets including detergents markets as water softeners and dispersants; odour capture markets and hair products markets for hold, texture and flexibility.


Itaconix Plc Core Investment Case 01052024

<ul>
<li>CIEL Limited (SEMDEX: CIEL) is a Mauritius listed diversified industrial company.</li>
<li>In this update we focus on CIEL’s Finance Cluster which in 1H24 accounted for 35.9% of Group (Grp) FCF, 25.8% of Grp EBITDA and 15.5% of Grp revenues.</li>
<li>CIEL has a diversified international growth portfolio of 25 companies across 6 ‘clusters’ - Textile, Properties, Healthcare, Hotels &amp; Resorts, Agro and Finance.</li>
</ul>


CIEL Limited (SEMDEX: CIEL) is a Mauritius listed diversified industrial company.
In this update we focus on CIEL’s Finance Cluster which in 1H24 accounted for 35.9% of Group (Grp) FCF, 25.8% of Grp EBITDA and 15.5% of Grp revenues.
CIEL has a diversified international growth portfolio of 25 companies across 6 ‘clusters’ - Textile, Properties, Healthcare, Hotels &amp; Resorts, Agro and Finance.


Ciel Limited (CIEL) Finance Cluster 08042024

ACF Equity Research is an independent research house specialising in the highest specification independent equity research for corporate clients.

We deliver premium independent corporate sponsored equity research characterised by its accuracy, clarity and foresight based upon a fundamental valuation approach.

Our independent research is designed to educate readers, with an emphasis on clear and accurate explanations. Our mission is to improve company’s liquidity through credible equity research services, excellent international distribution and reliable access for investment managers.

We believe in the importance and value of clarity, the careful articulation of technical ideas, concepts and solutions.