BeOne Medicines: Brukinsa And Tevimbra Face A High Bar
BeOne Medicines AG is a fast-growing oncology company and a Wall Street favorite. Tevimbra, its PD-1 inhibitor, helped drive growth, with Q2 revenue rising 10.8% QoQ and 18.1% YoY to $228.5 million. BeOne's rich pipeline includes BGB-B2033, BG-C477, and BGB-58067, with clinical data scheduled for presentation at the 2026 ESMO Congress, taking place October 23-27.
BGB: Tactical Opportunity With Liquidation Potential
Blackstone Strategic Credit 2027 Term Fund offers a floating-rate, high-yield portfolio with a current ~5% discount and ~8% yield. BGB's term structure is set for potential liquidation in under a year, creating a likely catalyst for discount narrowing via liquidation or a 100% NAV tender offer. Potential distribution increases may follow further Fed hikes, enhancing BGB's income appeal as well.
BGB: Discount Widens On Term Fund With Institutional CEF Investor Taking A Stake
Blackstone Strategic Credit 2027 Term offers a widened discount exceeding 5.5%, now above our "Buy" threshold, prompting an upgrade. BGB's term structure and anticipated 2027 liquidation create a tactical opportunity, with a recent investment from a large institutional CEF investment group. The fund's floating-rate, senior secured loan portfolio provides diversification but carries leveraged below-investment-grade credit risk.
