EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

Alpha generating Healthcare shorts

Healthcare

Bios Research

Bios' top 5 short ideas for 2024 had an 80% hit rate with Moderna the standout performer (down ~60%). For 2025, they select: 1) ~$13bn facilities and services company to be materially impacted by changes in reimbursement and by the growth in GLP1. 2) ~$6bn medtech company to be significantly impacted by new competitive launches. 3) ~$20bn commercial pharma/biotech company to suffer a notable decline in sales y/y and poor regulatory environment. 4) ~$3bn healthcare services and development company that is grossly overhyped and is burning excessive amounts of cash. 5) ~$1.5bn commercial launch failure in the biotech space that is grossly overhyped and could see greater than 80% decline in 2025.

Edition: 203

- 24 January, 2025