Warrants Highlight

Biosensors - Gained 13% in Less than 2 Weeks

Biosensors was at its May low of $1.125 on 14th May. Its shares have rebounded sharply to close at $1.27 yesterday, which is a 13% rally in less than 2 weeks. In the first 3 days of this week, Biosensors rose 5.8% and has been holding up well on its gains. Over the same period, call warrant QD9W gained 25%.

The company is scheduled to release its 4Q12 earnings next Tuesday (29 May).

Biosensors has 3 drug-eluting stents (DES), BioMatrix stent family, Axxess stent and BioFreedom. According to the company, the BioMatrix stent family features workhorse stent platforms for a broad range of lesions, and the Axxess stent employs a self-expanding stent platform specifically designed for treating bifurcation lesions. BioFreedom is currently undergoing clinical evaluation.

Here are some of the recent updates on Biosensors:

18 May - Axxess is safe and effective
A study (DIVERGE) involving 302 patients across 14 test sites showed that the self-expanding bifurcation DES, Axxess, is safe and effective up to four years.

16 May - Large-scale study with BioFreedom
Biosensors announced its first large scale study on BioFreedom. Investigators anticipate enrolling the first patient within the next few months, and completing the process by early 2014. Primary endpoint data is likely to be presented during 2015.

16 May - BioMatrix Flex in clinical trial
BioMatrix Flex was chosen as the stent platform for the largest ever randomised clinical trial involving a drug-eluting stent. Recruitment is due to commence by the end of this year. Patients will be followed-up for two years.

Singapore Market Wrap

Markets tumble ahead of EU summit

With Greece seemingly throwing in the towel with their comments that they have started preparations for a euro exit ahead of the EU summit, markets appeared to do the same. The earlier reprieve at the start of the week gave way to another round of heavy selling. In Singapore, the STI fell 1.5% day-on-day (dod) to close at 2,780.42 yesterday.

Call STI 2950MBeCW120831 (QE8W) exercise level 2,950.*
Put STI 2850MBePW120831 (QE9W) exercise level 2,850.*
Call STI 3000MBeCW120629 (P8BW) exercise level 3,000.*
Put STI 2900MBePW120629 (P8CW) exercise level 2,900.*

DBS the surprise
Even the usual defensive names such as SingTel were not spared from the carnage yesterday, falling 1.0% dod to $3.10. Surprisingly, the selling was less heavy in DBS, which was down 0.9% dod to $13.13.

Call SingTelMBeCW130301 (PB6W) exercise price $3.30.*
Call DBS MB eCW120904 (QC6W) exercise price $14.00.*
Put DBS MB ePW120718 (P2NW) exercise price $12.80.*

Commodity stocks hard-hit
Commodity plays appeared to be hit particularly hard by the broad sell-down. Across the sector, from big commodity names like Wilmar (-4.0% dod, $3.80), Noble (-4.0% dod, $1.07) and Olam (-5.7% dod, $1.725) to smaller names like Sakari Resources (-5.9% dod, $1.51) were all smashed. The Thomson Reuters/Jefferies CRB Index, which tracks 19 commodities ranging from copper to corn, had fallen just 1.1% in New York on Tuesday night.

Call Wilmar MBeCW121102 (QF1W) exercise price $4.60.*
Call NobleGrpMBeCW121105 (QF8W) exercise price $1.20.*
Call OLAM MB eCW121005 (QF2W) exercise price $2.00.*
Call SakariMBeCW121102 (QE1W) exercise price $1.95.*

Overnight Market Wrap

Saved by Last Hour Rebound

The S&P500 managed to inch out a 0.2% gain yesterday after a final hour rally that reversed its initial 1.5% fall. Greece woes and a potential Eurobond issuance were the main headlines.

Euro fell to a new 52-week low of 1.2582, while crude oil slumped 1.9%, below $90 per barrel.

Overnight Markets

Indices	Last	Change
STI	2780.42	-1.5%
HSI	18786.19	-1.3%
DJIA	12496.15	-0.1%
S&P 500	1318.86	0.2%
Nasdaq	2850.12	0.4%

Corporate News

Corporate Announcements

Results Announcement
Tue 29 May: Biosensors 4Q12