On August 17, BIOCYTOGEN-B fell 7.83% in regular trading, trading at 63.55 HKD/share, with turnover of HKD 240 million. The stock was among the biggest decliners on the Hong Kong exchange despite the Hang Seng Index rising 1.61% on the day.
The decline appears driven by continued profit-taking in the innovative drug sector following a sharp rally. The broader creative drug and CXO sector experienced a pullback late last week, with innovative drug ETFs collectively retreating. BIOCYTOGEN-B had surged from approximately 52 HKD in late July to above 70 HKD by mid-August, fueled by a strong H1 earnings preview showing net profit growth of 392%-413%, multiple institutional accumulations by E Fund and Fullgoal Fund, and a global strategic partnership with Whitehawk Therapeutics on bispecific ADC development. Within the Biotechnology sector, AKESO fell 5.83%, while INNOVENT BIO rose 1.76%, BEONE MEDICINES rose 1.14%, 3SBIO fell 0.34%, and REMEGEN fell 0.06%.
(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.)
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