DUALITYBIO-B (09606) saw its stock price surge more than 4% during the late trading session, with the company announcing a new business development collaboration with Genentech, a member of the Roche Group, to develop next-generation antibody-drug conjugates (ADCs) for multiple oncology indications based on the company's DUPAC platform.
As of the time of writing, the stock was up 3.56%, trading at HK$186.40, with a turnover of HK$194 million.
According to the terms of the collaboration and licensing agreement, DUALITYBIO will receive an upfront payment of $45 million and is eligible to receive aggregate potential development, regulatory, and commercial milestone payments exceeding $1 billion across all collaboration programs. Additionally, the company will be entitled to tiered royalties based on annual net sales of approved products resulting from the collaboration.
CSC Financial noted in a research report that the company is a leading innovative ADC drug development platform in China, having established four proprietary technology platforms: DITAC, DIMAC, DIBAC, and DUPAC. Its lead asset DB-1311 has advanced into global Phase III clinical trials, with active expansion into "ADC+IO2.0" combination regimens and multiple tumor indications. Meanwhile, DB-1303 is progressively entering the registration milestone phase, while innovative pipeline candidates including DB-1418, DB-1317, and DB-2304 continue to advance. The company has also entered into partnerships with multiple global pharmaceutical companies, with upfront payments, milestone payments, and potential sales royalties expected to constitute a long-term revenue stream.
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