On August 13, CSPC PHARMA rose 3.57% in regular trading, trading at HK$8.95/share, with turnover of HK$102 million.
The movement was primarily driven by the company's announcement on August 12 that it has received a $30 million upfront payment from AstraZeneca under their siRNA drug collaboration, option, and license agreement signed in July. The partnership focuses on leveraging CSPC's proprietary siRNA drug discovery platform and extrahepatic targeted delivery platform to co-develop novel small nucleic acid drug candidates. This payment marks the formal commencement of the funding phase of the strategic collaboration.
The $30 million receipt follows a $10 million milestone payment received on August 5 under a separate strategic R&D collaboration, along with a joint venture agreement to build a next-generation biologics manufacturing facility in Shijiazhuang (CSPC 51%, AstraZeneca 49%). CSPC is scheduled to report interim results on August 20, with market consensus expecting H1 net profit growth exceeding 131%. Citi maintains a Buy rating with a target price of HK$11.5.
(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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