Movement Alert｜CARsgen Therapeutics-B Rises 6.31% in Regular Trading, Buyback Plan and Sector Recovery Fuel Rebound

Market Focus06-29

On June 29, CARsgen Therapeutics-B rose 6.31% in regular trading, trading at HK$13.85/share, with turnover of approximately HK$35.5 million. The rebound was supported by the company's recently announced share buyback plan and a broader biotech sector rally.

On June 26, the board approved a share repurchase plan to buy back up to approximately 30.12 million shares on the open market, representing about 5% of issued shares as of May 31. The funding source is non-IPO proceeds including business development income and interest income. The buyback came after the stock had declined over 20% across four consecutive trading sessions following the June 22 approval of its globally-first solid tumor CAR-T therapy product for late-stage gastric cancer, priced at RMB 990,000 per dose.

The broader biotech sector rallied on the same day, with AKESO up 8.04%, 3SBIO up 6.66%, and INNOVENT BIO up 5.39%, creating a favorable sector linkage effect that further supported the stock's rebound from recent lows.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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