{"id":8440,"date":"2024-04-15T19:10:27","date_gmt":"2024-04-15T19:10:27","guid":{"rendered":"https:\/\/economicherald.net\/?p=8440"},"modified":"2024-04-15T19:10:27","modified_gmt":"2024-04-15T19:10:27","slug":"moneytalks-pointsbet-exits-us-business-will-gain-market-share-in-australia-says-broker","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8440","title":{"rendered":"MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker"},"content":{"rendered":"<p>Clarity Pharma rated Overweight by Wilsons on near term catalysts<br \/>\nPointsbet has exited US and will now focus on the Aussie market<br \/>\nJarden says Pointsbet should capture market share in Australia on tech advantage<\/p>\n<p>\u00a0<\/p>\n<h2>Clarity Pharma\u2019s clinical trial results loom as next catalysts<\/h2>\n<p><strong>Wilsons Advisory<\/strong> has slapped an <strong>Overweight<\/strong> rating on <strong><a href=\"https:\/\/stockhead.com.au\/company\/clarity-pharmaceuticals-cu6\/\">Clarity Pharma (ASX:CU6)<\/a><\/strong>, with a <strong>12-month price target of $3.12<\/strong> (versus current price of $2.70).<\/p>\n<p>Clarity is a $800m+ market capped radiopharmaceutical biotech which has developed a unique proprietary program involving the use of copper isotopes in prostate cancer diagnosis and therapy.<\/p>\n<p>The company has stamped itself as a global leader in <strong>Targeted Copper Theranostics (TCTs)<\/strong>, a disruptive platform in radiopharmaceutical that employs the \u201cperfect pairing\u201d of Copper-64 and Copper-67 for diagnosis and therapy (or theranostics), respectively.<\/p>\n<p><em><strong>To read more about the company, read: <a href=\"https:\/\/stockhead.com.au\/health\/radiopharmaceutical-emerges-as-the-hottest-space-in-biotech-heres-what-it-means-for-clarity-pharma\/\">Radiopharmaceutical emerges as the hottest space in biotech; here\u2019s what it means for Clarity Pharma<\/a><\/strong><\/em><\/p>\n<p>Clarity recently completed a $110m institutional equity placement and an $11m entitlement offer that should see it funded through to CY26.<\/p>\n<p>The company has plenty of data yet to share this year with its<strong> SABRE trial under way.<\/strong><\/p>\n<p>SABRE is a Phase II Positron Emission Tomography (PET) imaging trial of 50 participants with PSMA-negative biochemical recurrence (BCR) of prostate cancer following definitive therapy. It is a multi-centre, single arm, non-randomised, open-label trial of<strong> 64Cu-labelled SAR- Bombesin<\/strong>.<\/p>\n<p>Other catalysts for Clarity include the theranostic <strong>SECuRE trial<\/strong> \u2013 which is investigating SAR-bisPSMA in metastatic castrate-resistant prostate cancer (mCRPC) patients.<\/p>\n<p>The SECuRE trial has so far shown remarkable results. Among the participants from cohorts 2 and 3, almost 80% showed reductions in PSA (prostate-specific antigen) levels of greater than 35% from a single dose of 67Cu-SAR-bisPSMA, and 44% showed reductions in PSA levels of greater than 80%.<\/p>\n<p>Meanwhile, interest from big pharma in the radiopharma space continues. Over the last six months, three global blockbuster deals have taken place in this space \u2013 AstraZeneca acquiring Fusion for US$2.4b, Eli Lilly buying out Point Biopharma for US$1.4b, and Bristol Myers Squibb\u2019s purchase of Rayze Bio for US$4.1b.<\/p>\n<p>\u201cWe clearly note the consistent inclusion of manufacturing capabilities as part of these acquisitions.<\/p>\n<p>\u201cClarity have that part of the equation now further solidified with their extended agreement with NorthStar for end product cGMP manufacture of their 67Cu- SAR-bisPSMA therapeutic agent \u2013 continuing to make Clarity Pharma a standout target,\u201d said the note from Wilsons.<\/p>\n<p>\u00a0<\/p>\n<h2>Pointsbet exits US, targets market share in Australia<\/h2>\n<p>Meanwhile, <strong>Jarden Research<\/strong> has also slapped an <strong>Overweight<\/strong> rating on <strong><a href=\"https:\/\/stockhead.com.au\/company\/pointsbet-pbh\/\">Pointsbet (ASX:PBH)<\/a><\/strong>, with a <strong>target price of $1.05<\/strong> (versus the current price of $0.81).<\/p>\n<p>Pointsbet is a $260m+ market capped wagering company that offers betting in the four major US sports (NFL, NBA, MLB, NHL), as well as horse racing, greyhounds, and AFL matches in Australia.<\/p>\n<p>PBH recently announced it has reached the final sale completion of its US operations to Fanatics, with all US regulatory approvals received. As a result, PBH has received the final US$50m instalment (total US$225m) proceeds, which will be paid to shareholders in the form of special dividends.<\/p>\n<p>\u201cFinancially, eliminating a loss-making US operation materially reduces financial risk and should move the business to a net cash (c.$30m) position,\u201d said Jarden.<\/p>\n<p>The sale of the US business leaves the company with its Australian and Canadian businesses, which will be rolled into PointsBet\u2019s <em>RemainCo<\/em>.<\/p>\n<p>The company has said that it will be targeting more market share in Australia, and\u00a0Jarden says its sees a real opportunity for PBH and other domestic players (e.g. Tabcorp, BlueBet) to do just that.<\/p>\n<p>\u201cThis is despite a domestic wagering turnover market that remains soft, evidenced by Sportsbet\u2019s Australian guidance of a 30% FY24 EBITDA decline.<\/p>\n<p>\u201cLower competitor returns should reduce their ability to reinvest and shift the competitive landscape more towards technology and wagering innovation. This should suit PointsBet.\u201d<\/p>\n<p>\u201cWe see PBH as strategically very well positioned given its proven technology, established brand, overweight sports betting, and younger customer age demographic,\u201d said Jarden.<\/p>\n<p>\u00a0<\/p>\n<h2>Share prices today:<\/h2>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>The views, information, or opinions expressed in the interview in this article are solely those of the brokers and do not represent the views of Stockhead.<\/em><\/p>\n<p><em>Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this article.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/experts\/moneytalks-pointsbet-exits-us-business-will-gain-market-share-in-australia-says-broker\/\">MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Clarity Pharma rated Overweight by Wilsons on near term catalysts Pointsbet has exited US and will now focus on the Aussie market Jarden says Pointsbet <a href=\"https:\/\/economicherald.net\/?p=8440\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8441,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=8440\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Clarity Pharma rated Overweight by Wilsons on near term catalysts Pointsbet has exited US and will now focus on the Aussie market Jarden says Pointsbet [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=8440\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T19:10:27+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8440#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8440\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker\",\"datePublished\":\"2024-04-15T19:10:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8440\"},\"wordCount\":737,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8440#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Pointsbet-has-sold-its-operations-in-the-US-and-will-now-focus-on-the-Aussie-market.-Picture-Getty-A41sa8.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8440\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=8440\",\"name\":\"MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8440#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8440#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Pointsbet-has-sold-its-operations-in-the-US-and-will-now-focus-on-the-Aussie-market.-Picture-Getty-A41sa8.jpeg\",\"datePublished\":\"2024-04-15T19:10:27+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8440#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=8440\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8440#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Pointsbet-has-sold-its-operations-in-the-US-and-will-now-focus-on-the-Aussie-market.-Picture-Getty-A41sa8.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Pointsbet-has-sold-its-operations-in-the-US-and-will-now-focus-on-the-Aussie-market.-Picture-Getty-A41sa8.jpeg\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=8440#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=8440","og_locale":"en_US","og_type":"article","og_title":"MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker - Economic Herald","og_description":"Clarity Pharma rated Overweight by Wilsons on near term catalysts Pointsbet has exited US and will now focus on the Aussie market Jarden says Pointsbet [more...]","og_url":"https:\/\/economicherald.net\/?p=8440","og_site_name":"Economic Herald","article_published_time":"2024-04-15T19:10:27+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=8440#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=8440"},"author":{"name":"","@id":""},"headline":"MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker","datePublished":"2024-04-15T19:10:27+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=8440"},"wordCount":737,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=8440#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/04\/Pointsbet-has-sold-its-operations-in-the-US-and-will-now-focus-on-the-Aussie-market.-Picture-Getty-A41sa8.jpeg","articleSection":["Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=8440","url":"https:\/\/economicherald.net\/?p=8440","name":"MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=8440#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=8440#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/04\/Pointsbet-has-sold-its-operations-in-the-US-and-will-now-focus-on-the-Aussie-market.-Picture-Getty-A41sa8.jpeg","datePublished":"2024-04-15T19:10:27+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=8440#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=8440"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=8440#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/04\/Pointsbet-has-sold-its-operations-in-the-US-and-will-now-focus-on-the-Aussie-market.-Picture-Getty-A41sa8.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/04\/Pointsbet-has-sold-its-operations-in-the-US-and-will-now-focus-on-the-Aussie-market.-Picture-Getty-A41sa8.jpeg","width":1200,"height":675},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=8440#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"MoneyTalks: Pointsbet exits US business, will gain market share in Australia says broker"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/8440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8440"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/8440\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/8441"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}