Movement Alert｜REMEGEN Rises 5.35% in Regular Trading, RC148 Lung Cancer Clinical Data Debut at World Lung Cancer Conference Draws Market Attention

Market Focus09-21 09:42

On September 21, REMEGEN rose 5.35% in regular trading, trading at HK$78.75/share, with turnover of HK$71.61 million.

On the news front, the PD-1/VEGF bispecific antibody RC148, co-developed by REMEGEN and AbbVie, had its Phase II clinical data for first-line treatment of squamous and non-squamous non-small cell lung cancer presented as an oral report at the World Lung Cancer Conference on September 15. The pipeline is estimated to reach peak annual sales of approximately 3.6 billion yuan in Greater China. Multiple institutions subsequently raised their target prices, with CLSA lifting its target to HK$144.8 and Citi to HK$127.7, both maintaining buy-equivalent ratings.

Strong fundamentals further underpin the stock. The company reported H1 revenue of 5.853 billion yuan, up 433.11% year-over-year, with net profit of 4.662 billion yuan, marking a turnaround from a 450 million yuan loss in the prior-year period. The turnaround was primarily driven by a US$650 million upfront payment received under the RC148 licensing agreement with AbbVie. Management guided for operational breakeven for the full year excluding BD income.

(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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