Core Viewpoint - The research service "Asia Value & Moat Stocks" targets value investors looking for Asia-listed stocks that exhibit a significant disparity between market price and intrinsic value, focusing on deep value balance sheet bargains and wide moat stocks [1] Group 1: Investment Focus - The service emphasizes deep value balance sheet bargains, which include net cash stocks, net-nets, low price-to-book (P/B) stocks, and sum-of-the-parts discounts [1] - It also highlights wide moat stocks, which are characterized by strong earnings power at a discount, including high-quality businesses and hidden champions [1] Group 2: Market Emphasis - The primary focus of the investment ideas is on the Hong Kong market, providing a range of watch lists with monthly updates for investors [1]

Core Viewpoint - The comparison between Kirin Holdings Co. (KNBWY) and Anheuser-Busch Inbev (BUD) indicates that KNBWY is currently a more attractive option for value investors due to its stronger earnings outlook and favorable valuation metrics [1][3][7]. Valuation Metrics - KNBWY has a forward P/E ratio of 12.22, while BUD has a forward P/E of 16.67, suggesting KNBWY is undervalued compared to BUD [5]. - The PEG ratio for KNBWY is 0.95, indicating better expected EPS growth relative to its price, whereas BUD has a PEG ratio of 1.93 [5]. - KNBWY's P/B ratio is 1.10, compared to BUD's P/B of 1.20, further supporting KNBWY's valuation advantage [6]. Investment Grades - KNBWY holds a Zacks Rank of 2 (Buy), while BUD has a Zacks Rank of 3 (Hold), reflecting a more favorable earnings estimate revision trend for KNBWY [3]. - KNBWY has earned a Value grade of A, while BUD has a Value grade of C, indicating KNBWY is perceived as a better value investment [6].

Core Viewpoint - The article emphasizes the importance of value investing and highlights Kirin (KNBWY) as a strong candidate for value investors due to its favorable valuation metrics [2][5]. Valuation Metrics - Kirin (KNBWY) has a Zacks Rank of 2 (Buy) and a Value grade of A, indicating it is a high-quality value stock [3]. - The stock is currently trading at a P/E ratio of 12.35, which is lower than the industry average of 14.97 [3]. - KNBWY's Forward P/E has fluctuated between 11.06 and 14.14 over the past 12 months, with a median of 12.56 [3]. - The P/S ratio for KNBWY is 0.72, compared to the industry average of 1.31, suggesting it is undervalued based on sales [3]. - The P/CF ratio for KNBWY is 10.89, significantly lower than the industry average of 42.52, indicating a strong cash outlook [4]. Investment Outlook - The combination of these metrics suggests that Kirin is likely undervalued, making it an attractive option for value investors [5].

Core Insights - Kyowa Kirin Co., Ltd. announced the presentation of Phase 3 ROCKET HORIZON trial results for rocatinlimab, targeting OX40 receptor in moderate-to-severe atopic dermatitis, at the AAD 2025 Annual Meeting [1][2] Group 1: Clinical Trial Details - ROCKET HORIZON is a Phase 3, randomized, placebo-controlled, double-blind trial involving 726 adult patients, assessing the efficacy, safety, and tolerability of rocatinlimab administered subcutaneously every four weeks for 24 weeks [3] - Co-primary endpoints include achieving a Validated Investigator Global Assessment for Atopic Dermatitis (vIGA-ADTM) score of 0 or 1 with a ≥ 2-point reduction from baseline at week 24, and a ≥ 75% reduction from baseline in Eczema Area and Severity Index score (EASI-75) at week 24 [3] - Key secondary endpoints focus on the impact of rocatinlimab on itch, safety, and tolerability [3] Group 2: Atopic Dermatitis Overview - Atopic dermatitis is a chronic inflammatory disease affecting 15-20% of children and up to 10% of adults, characterized by excessively dry, itchy skin and unpredictable flare-ups [4] - T-cell imbalance is identified as a root cause of atopic dermatitis, contributing to its clinical manifestations [4] Group 3: Rocatinlimab Overview - Rocatinlimab is an anti-OX40 receptor human monoclonal antibody under investigation for moderate-to-severe atopic dermatitis, as well as for moderate to severe uncontrolled asthma and prurigo nodularis [5] - The antibody was discovered through collaboration between Kyowa Kirin and La Jolla Institute for Immunology [5] Group 4: Collaboration with Amgen - Kyowa Kirin and Amgen entered a collaboration agreement on June 1, 2021, for the joint development and commercialization of rocatinlimab, with Amgen leading the global development except in Japan [6] - If approved, both companies will co-promote rocatinlimab in the United States, with Kyowa Kirin having opt-in rights for co-promotion in select markets [6]

Core Insights - The article compares Kirin Holdings Co. (KNBWY) and Anheuser-Busch Inbev (BUD) to determine which stock is more attractive for value investors [1] Valuation Metrics - Kirin Holdings Co. has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while Anheuser-Busch Inbev has a Zacks Rank of 4 (Sell) [3] - KNBWY has a forward P/E ratio of 11.30, compared to BUD's forward P/E of 14.37, suggesting KNBWY is undervalued [5] - KNBWY's PEG ratio is 0.88, while BUD's PEG ratio is 1.66, indicating KNBWY has a better expected earnings growth relative to its price [5] - KNBWY has a P/B ratio of 1.01, slightly lower than BUD's P/B of 1.03, further supporting KNBWY's valuation advantage [6] - Based on these metrics, KNBWY holds a Value grade of A, while BUD has a Value grade of C, reinforcing KNBWY as the superior value option [6]

Core Viewpoint - The article emphasizes the importance of value investing as a successful strategy across various market conditions, highlighting the use of fundamental analysis and valuation metrics to identify undervalued stocks. Group 1: Value Investing Strategy - Value investing is a popular stock market trend that focuses on identifying stocks believed to be undervalued by the market through fundamental analysis and traditional valuation metrics [2] - Zacks has developed a Style Scores system to identify stocks with specific traits, particularly in the "Value" category, which is of interest to value investors [3] Group 2: Kirin (KNBWY) Analysis - Kirin (KNBWY) has a Zacks Rank of 2 (Buy) and an A grade for Value, indicating it is a strong candidate for value investors [4] - The stock is currently trading at a P/E ratio of 11.29, significantly lower than its industry's average of 13.82, suggesting it may be undervalued [4] - KNBWY has a P/S ratio of 0.67, compared to the industry's average P/S of 1.27, further indicating its potential undervaluation [5] - The combination of these metrics positions Kirin as one of the market's strongest value stocks, especially considering its positive earnings outlook [6]

Core Insights - AlphaMeld Corporation has announced the continuation and expansion of its collaboration with Kyowa Kirin Co., Ltd., enhancing access to its AI-powered AlphaMeld® platform for drug discovery and development [1][2][4] Group 1: Collaboration Details - The expanded partnership allows Kyowa Kirin's global research and development teams to integrate the AlphaMeld platform into their workflows, facilitating data-driven decisions and streamlining the drug development process [4][5] - This collaboration builds on previous successes and highlights Kyowa Kirin's commitment to leveraging advanced AI technologies to address unmet medical needs globally [2][3] Group 2: Technological Impact - The AlphaMeld platform empowers stakeholders involved in early drug discovery, target identification, competitive intelligence, and clinical trial optimization by extracting actionable insights from diverse datasets [2][4] - The integration of the AlphaMeld platform is expected to enable Kyowa Kirin to identify novel therapeutic opportunities with increased speed, precision, and probability of clinical success [5][6] Group 3: Company Backgrounds - AlphaMeld Corporation is a leader in applying AI, machine learning, and generative AI tools to revolutionize drug discovery, with a mission to expedite transformative therapies for diseases with unmet medical needs [6] - Kyowa Kirin has over 70 years of experience in drug discovery and biotechnology innovation, focusing on developing next-generation therapies for high unmet medical needs [7]

Core Insights - Kirin Holdings Co. (KNBWY) is currently rated higher than Diageo (DEO) based on Zacks Rank, with KNBWY at 2 (Buy) and DEO at 4 (Sell) [3] - KNBWY exhibits stronger earnings estimate revision activity compared to DEO, indicating a more favorable analyst outlook for KNBWY [3][7] Valuation Metrics - KNBWY has a forward P/E ratio of 11.13, significantly lower than DEO's forward P/E of 18.80, suggesting KNBWY is undervalued [5] - The PEG ratio for KNBWY is 0.86, while DEO's PEG ratio is considerably higher at 4.21, indicating KNBWY's expected earnings growth is more favorable relative to its valuation [5] - KNBWY's P/B ratio stands at 1, compared to DEO's P/B ratio of 5.73, further supporting the notion that KNBWY is undervalued [6] Value Grades - KNBWY holds a Value grade of A, while DEO has a Value grade of F, highlighting KNBWY's superior valuation metrics [6]

Core Insights - The article emphasizes the importance of value investing, which focuses on identifying undervalued companies in the market [2] - Zacks has developed a Style Scores system to highlight stocks with specific traits, particularly for value investors [3] Company Overview: Kirin (KNBWY) - Kirin currently has a Zacks Rank of 2 (Buy) and an A for Value, indicating strong potential for value investors [4] - The stock has a P/E ratio of 11.28, significantly lower than the industry average P/E of 14.38 [4] - Over the past 12 months, Kirin's Forward P/E has fluctuated between 11.13 and 14.14, with a median of 12.56 [4] - The P/S ratio for Kirin is 0.66, compared to the industry average P/S of 1.42, suggesting it is undervalued [5] - These metrics indicate that Kirin is likely undervalued, making it an attractive option for value investors [6]

Collaboration Overview - Kura Oncology and Kyowa Kirin have entered into a global strategic collaboration to develop and commercialize ziftomenib, a selective oral menin inhibitor for treating acute myeloid leukemia (AML) and other hematologic malignancies [1] - Kura will receive a $330 million upfront payment and up to $1.2 billion in total milestone payments, including $420 million in near-term milestone payments [1][2] - The collaboration includes a 50/50 profit share in the U.S., with Kura leading U.S. development and commercial activities, while Kyowa Kirin has exclusive commercialization rights outside the U.S. [1][3][4] Financial and Commercial Terms - Kura is eligible for additional milestone payments totaling $741 million, bringing the total potential payments to $1.161 billion, including the opt-in for solid tumor indications [2] - In the U.S., Kura will book sales and lead commercial strategy, sharing profits and losses equally with Kyowa Kirin [3][9] - Outside the U.S., Kyowa Kirin will lead commercialization, and Kura will receive tiered double-digit royalties on net product sales [4][9] Development and Clinical Plans - The companies will jointly pursue a broad development program targeting acute leukemias, including frontline indications, combinations with targeted therapies, and post-transplant maintenance settings [1][6] - Kura anticipates that the collaboration funding, combined with its current cash balance, will support the AML program through commercialization in frontline combination therapy [1][8] - The companies plan to launch multiple Phase 2 and Phase 3 studies of ziftomenib in AML and other hematologic malignancies over the next several years [10] Regulatory and Market Potential - Ziftomenib has received Breakthrough Therapy Designation from the FDA for the treatment of relapsed/refractory NPM1-mutant AML, a mutation associated with poor outcomes [6][14] - Kura expects to submit a New Drug Application (NDA) in 2025 and initiate registrational Phase 3 frontline studies in both fit and unfit AML patient populations in 2025 [6][8] - The U.S. market opportunity for ziftomenib in the frontline setting is estimated at up to $3 billion annually [8] Additional Collaboration Details - Kura will fund development costs until the end of 2028, after which both companies will share costs at a 50:50 ratio [10] - Kyowa Kirin has an option to participate in the development and commercialization of ziftomenib in gastrointestinal stromal tumors (GIST) and other solid tumor indications, with Kura eligible for additional upfront and milestone payments totaling $228 million if the option is exercised [11] - The collaboration excludes Kura's ongoing efforts to advance next-generation menin inhibitor drug candidates targeting oncology indications, diabetes, and other metabolic diseases [11]