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

Transgene (TNG FP) France

Healthcare

Intron Health

With BT-001 advancing into phase I trials, TNG now has four oncology assets in clinical development and multiple important catalysts in the coming 12 months. TG4001 has started phase II, TG6002 reported first positive human data in April with a further readout in Q4 and most importantly, TG4050 is expected to report an immunological readout in Q4 which could demonstrate proof-of-concept for the technology. The company has financial runway to the end of FY23. Intron’s SOTP values TNG at €3.20/share (40% upside).

Edition: 117

- 20 August, 2021