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The most advanced drug candidate, proxalutamide, entered into Phase III clinical trial and the NDA for mCRPC indication could be submitted as early as 2020 based on interim results. Having said that the clinical trial for TNBC is still in the early stage of development. Pyrilutamide which treats hair loss (androgenic alopecia) is still years away from commercialization. We are of the view that competition for the targeted indication for androgenic alopecia is intense with many generics of early generation drugs available in the market. The company is backed by reputable domestic investors. In terms of management experience, the key founder has academic experiences in cancer research but lacks track records in bringing drug candidates from pre-clinical research to commercialization.
In this note, we will look at progress of the company's clinical trial in the post hearing prospectus. We also provide a reference to the benchmark product's clinical trial results and recap our valuation.
Kintor Pharma (开拓è¯ä¸š) Pre-IPO - Updates from the post hearing prospectus and efficacy of reference products
Kintor was founded by Chinese academic researchers returning from overseas. It has two main drugs, proxalutamide which targets prostate cancer and breast cancer, and pyrilutamide which targets androgenic alopecia.The most advanced drug candidate, proxalutamide, entered into Phase III clinical trial and the NDA for mCRPC indication could be submitted as early as 2020 based on interim results. Having said that the clinical trial for TNBC is still in the early stage of development. Pyrilutamide which treats hair loss (androgenic alopecia) is still years away from commercialization. We are of the view that competition for the targeted indication for androgenic alopecia is intense with many generics of early generation drugs available in the market. The company is backed by reputable domestic investors. In terms of management experience, the key founder has academic experiences in cancer research but lacks track records in bringing drug candidates from pre-clinical research to commercialization.
In this note, we will look at progress of the company's clinical trial in the post hearing prospectus. We also provide a reference to the benchmark product's clinical trial results and recap our valuation.
Underlying
Kintor Pharmaceutical Ltd
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
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Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Ke Yan
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