Asia Pacific Equity Research 20 June 2025 J P M O R G A N Mid-Year Prospects Healthcare This report forms part of the J.P. Morgan Australia Mid-Year Prospects series as we take stock at the mid-point of 2025 and set out our Top Picks and Least Preferred stocks for the remainder of the year. Top Pick – ResMed (RMD AU, OW) Earnings upside as sectoral trends pull forward demand Demand and diagnosis supported by industry tailwinds. Awareness of obstructive sleep apnoea is on the rise, supported by consumer mark ...

Core Insights - BioStem Technologies, Inc. has completed patient enrollment for a clinical trial comparing BioREtain® Amnion Chorion (BR-AC) to standard care for non-healing diabetic foot ulcers (DFUs) [2][3] - The BR-AC-DFU-101 study aims to evaluate the effectiveness of BR-AC in achieving complete wound closure over a 12-week period [3][5] - Topline results from the study are expected in Q4 2025, with the trial initiated in Q4 2024 across 11 sites in the U.S. [3][4] Company Overview - BioStem Technologies focuses on developing, manufacturing, and commercializing placental-derived products for advanced wound care [2][10] - The company utilizes a proprietary BioREtain processing method that preserves the natural properties of perinatal tissue [8][10] - BioStem's quality management systems are accredited by the American Association of Tissue Banks and adhere to Good Tissue Practices and Good Manufacturing Processes [11] Clinical Trial Details - The primary objective of the BR-AC-DFU-101 study is to determine if the combination of standard care and BR-AC leads to a higher probability of complete wound closure compared to standard care alone [5] - Secondary outcome measures include comparing treatment group differences in wound closure rates, wound area, and volume [7] - The study has enrolled 71 patients, exceeding the initial target of 60 [3][4] Market Context - Diabetic foot ulcers affect approximately 15% of individuals with diabetes, with 6% requiring hospitalization due to complications [5] - The economic burden of DFUs in the U.S. is significant, with annual treatment costs estimated between $9 billion and $13 billion [6] - In 2023, 2.2 million patients received treatment for DFUs, with numbers projected to rise [6]

The Unrecognized Faces of Critical Illness CytoSorbents Corporation Nasdaq: CTSO Q2 2024 Earnings Conference Call August 13, 2024 Conference Call Participants Moderator: Eric Ribner LifeSci Advisors Christian Steiner, MD Executive VP Sales & Marketing Managing Director CytoSorbents Europe GmbH Christopher Cramer, MS, MBA Senior VP Business Development 2 Phillip Chan, MD, PhD Chief Executive Officer Vincent Capponi, MS President and Chief Operating Officer Kathleen Bloch, MBA, CPA Chief Financial Officer Eft ...

The Emergence of CytoSorbents Corporation Nasdaq: CTSO Q3 2024 Earnings Conference Call November 7, 2024 DrugSorb-ATR is an investigational device currently under U.S. FDA and Health Canada review. It is not yet approved or cleared in any country. Conference Call Participants Moderator: Adanna Alexander, PhD ICR Healthcare Efthymios "Makis" Deliargyris MD, FACC, FESC, FSCAI Chief Medical Officer Christopher Cramer, MS, MBA Senior VP Business Development 2 Phillip Chan, MD, PhD Chief Executive Officer Vincen ...

CytoSorbents Corporation Nasdaq: CTSO Q1 2025 Financial Results and Recent Business Highlights Conference Call May 14, 2025 Conference Call Participants Phillip Chan, MD, PhD Chief Executive Officer Moderator: Adanna Alexander, PhD VP Investor Relations, ICR Healthcare Efthymios "Makis" Deliargyris MD, FACC, FESC, FSCAI Chief Medical Officer Peter J. Mariani, CPA Chief Financial Officer 2 Safe Harbor Statement Statements in this presentation regarding CytoSorbents Corporation and its operating subsidiaries ...

June 18, 2025 02:42 PM GMT China Healthcare | Asia Pacific Weekly Rx Express 2025.06.13 China Healthcare Asia Pacific Industry View Attractive Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Research. Investors should consider Morgan Stanley Research as only a single factor in making their investment decision. For analyst cer ...

Core Insights - Smith + Nephew (SNN) has formed a strategic partnership with Standard Health to establish the UK's first dedicated Orthopaedic Ambulatory Surgery Centre (ASC) in Poole, Dorset, aimed at transforming outpatient orthopedic care [1][4][6] - The collaboration combines SNN's innovative surgical solutions with Standard Health's clinical expertise to enhance patient outcomes and reduce surgical wait times [2][4] - SNN's market capitalization stands at $12.52 billion, with projected fiscal 2025 revenues of $6.12 billion, indicating a growth of 10.3% from fiscal 2023 [5] Company Developments - The new ASC will focus on minimally invasive procedures, including rotator cuff repairs, ACL reconstructions, and joint replacements, catering to both NHS and private patients [1][7] - SNN is positioned to capitalize on the growing trend towards outpatient orthopedic procedures, enhancing its presence in the ASC market and driving adoption of its surgical technologies [4][9] - Standard Health plans to expand to 20 ASC sites across the UK by 2030, providing SNN with scalable opportunities to deepen its market presence [6][9] Industry Trends - The global ambulatory surgery centers market is projected to grow from $134.9 billion in 2023 to $205.5 billion by 2030, with a CAGR of 6.2% from 2024 to 2030, driven by a shift of surgical procedures from hospitals to ASCs [10] - The ASC model has shown greater procedural efficiency and patient satisfaction, making it an attractive alternative to traditional hospital settings [8][10] - With over 850,000 patients awaiting orthopedic surgeries in the UK, the NHS is increasingly relying on independent providers to alleviate backlogs, indicating a strong demand for SNN's services [9]

Group 1 - SeaStar Medical Holding Corporation announced a public offering of 6,153,847 shares of common stock at a price of $0.65 per share, with potential additional gross proceeds of up to $4 million from short-term warrants [1][4] - The Series A warrants will expire in five years, while the Series B short-term warrants will expire in 18 months, both having an exercise price of $0.65 per share [2] - The offering is expected to close around June 23, 2025, pending customary closing conditions [2] Group 2 - H.C. Wainwright & Co. is the exclusive placement agent for the offering [3] - The gross proceeds from the offering are anticipated to be approximately $4 million before deducting fees and expenses [4] - The net proceeds will be used for general corporate purposes [4] Group 3 - SeaStar Medical is focused on transforming treatments for critically ill patients facing organ failure, with its first product QUELIMMUNE approved by the FDA in 2024 for acute kidney injury in pediatric patients [7] - The company’s Selective Cytopheretic Device therapy has received Breakthrough Device Designation for six therapeutic indications, facilitating a faster approval process [7] - SeaStar is conducting a pivotal trial for its SCD therapy in adult patients with acute kidney injury, a condition affecting over 200,000 adults in the U.S. annually [7]

Core Insights - DexCom (DXCM) reported strong first-quarter 2025 results driven by high demand, record new patient growth, and progress in strategic initiatives [1] - The company’s shares have increased by 18.6% quarter to date, outperforming the industry’s decline of 4.5% [2] - DexCom has a market capitalization of $31.76 billion and projects a 23.1% growth rate over the next five years [2] Access Gain and Market Penetration - Significant expansion in reimbursement coverage for type 2 diabetes (T2D) patients, particularly non-insulin users, is expected to unlock access for nearly 6 million individuals [4] - The first quarter of 2025 saw a record increase in new patient starts from this cohort, the highest in DexCom's history [4] - The over-the-counter CGM, Stelo, is capturing a broader audience, including prediabetes patients and those interested in wellness [5][8] Innovation and Commercial Execution - The launch of the 15-Day G7 system is anticipated to enhance accuracy and product differentiation, potentially improving gross margins [10] - DexCom is optimizing its sales force and expanding its international presence, particularly in France and Japan [11] - The company has a strong cash position of $2.7 billion and announced a $750 million share buyback, indicating confidence in long-term cash flow [12] Estimate Trend - The Zacks Consensus Estimate for 2025 earnings per share remains stable at $2.03, with the second-quarter revenue estimate at $1.12 billion, reflecting an 11.8% year-over-year improvement [13][15] Navigating Near-Term Challenges - Gross margin guidance for fiscal 2025 has been revised down to nearly 62% due to supply-chain disruptions and increased freight costs [16] - DexCom is addressing an FDA warning letter from 2024 inspections, which requires ongoing resource allocation but does not restrict product approvals [17] - The company is advocating for Medicare coverage for non-insulin T2D users, contingent on a trial set to report results in late 2025 or early 2026 [18] CGM Competition on the Rise - DexCom faces increasing competition from Abbott Laboratories, Medtronic, and Senseonics, which are innovating rapidly in the CGM market [19] - Abbott's expansion with its FreeStyle Libre family and OTC devices directly challenges DexCom's Stelo strategy [20] - Medtronic's integration of CGM with insulin pumps and Senseonics' long-wear implantable CGM are also competitive threats [21][22]

Core Viewpoint - Aethlon Medical, Inc. is set to release its financial results for the fiscal fourth quarter ended March 31, 2025, on June 26, 2025, at 4:15 p.m. ET [1] Financial Results Announcement - The financial results will be followed by a conference call hosted by management on June 26, 2025, at 4:30 p.m. ET to discuss the results and recent corporate developments [2] - Interested parties can register for the conference call online, and registered participants will receive their dial-in number upon registration [2] Conference Call Details - For those without internet access, a toll-free participant dial-in number is available at 1-844-836-8741, with an international dial-in option at 1-412-317-5442 [3] - A replay of the call will be accessible approximately one hour after the call ends and will be available until July 26, 2025 [4] Company Overview - Aethlon Medical focuses on developing the Hemopurifier, an immunotherapeutic device aimed at treating cancer and life-threatening viral infections [5] - The Hemopurifier has shown promise in human studies for removing life-threatening viruses and harmful exosomes, which may contribute to immune suppression and cancer metastasis [5] - The device has received FDA Breakthrough Device designation for treating advanced or metastatic cancer and life-threatening viruses not addressed by approved therapies [5]