Stock Track | KEYMED BIO-B Soars 5.09% as CICC Raises Target Price by 54.5% to HK$85.00

Stock Track08-27

KEYMED BIO-B (02162) saw its stock price soar by 5.09% in Wednesday's trading session, following a bullish research report from CICC. The investment bank maintained its outperform rating on the biotech company and significantly raised its target price by 54.5% to HK$85.00, representing a 16.8% upside from the current share price.

The positive outlook is driven by several factors, including KEYMED BIO-B's strong financial performance and pipeline progress. CICC adjusted its 2025 loss forecast for the company from 837 million yuan to 524 million yuan, citing the recognition of upfront and milestone payments from out-licensing deals for CM313 and CM355. These deals contributed to a substantial revenue boost, with the company reporting a 812% year-on-year increase in 1H25 revenue to 499 million yuan.

Furthermore, KEYMED BIO-B's core product, the dupilumab biosimilar CM310, has received approval for three indications from the CDE, including adult moderate-to-severe atopic dermatitis, seasonal allergic rhinitis, and chronic rhinosinusitis with nasal polyps. The company is also making strides in global partnerships, notably with AstraZeneca for its CLDN 18.2 ADC (CMG901) product. Additionally, KEYMED BIO-B is advancing its pipeline through various clinical trials, both domestically and internationally, further strengthening its market position and growth prospects.

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.

Comments

We need your insight to fill this gap
Leave a comment