Movement Alert｜Sino Biopharmaceutical Rises 3.2% in Regular Trading, Dual Pipeline Catalysts and Sector Recovery Drive Gains

Market Focus06-24

On June 24, Sino Biopharmaceutical rose 3.2% in regular trading, trading at HK$4.54/share, with turnover of HK$58.51 million.

On the news front, the company received dual pipeline catalysts. Its subsidiary LaNova Medicines' new drug application for tecotabart vedotin (LM-302), targeting locally advanced or metastatic gastric or gastroesophageal junction adenocarcinoma, was officially accepted by China's Center for Drug Evaluation. This marks a critical step toward commercialization. Simultaneously, subsidiary Chia Tai Tianqing's exclusively partnered Class 1 innovative drug Peceleganan Spray received NMPA marketing approval for treating wound infections secondary to first- or superficial second-degree burns.

Additionally, the company previously announced a share buyback program of up to HK$2 billion over the next 12 months, stating its value is significantly underestimated, with approximately HK$49.23 million already executed. The broader pharmaceuticals sector continued its recovery, with Asymchem up 12.4%, CSPC Pharma up 2.39%, Hengrui Pharma up 3.56%, and Hansoh Pharma up 0.95%.

(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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