On July 2, CARsgen Therapeutics-B rose 5.19% in regular trading, trading at HK$15.01/share, with turnover of HK$69.48 million. The stock continued its recovery trajectory following a sharp post-approval selloff.
The ongoing share buyback plan remains a key support factor. The board approved on June 25 a repurchase program authorizing the company to buy back up to approximately 30.12 million shares on the open market, representing about 5% of total issued shares as of May 31. The buyback is funded from non-IPO proceeds including business development income and interest income, signaling management confidence in the company's intrinsic value.
Sector-wide strength in biotech stocks further bolstered the rebound, with Akeso up 7.72%, SKB Bio up 7.66%, 3SBio up 7.46%, Innovent Bio up 6.85%, and BeiGene up 2.52%. The stock had previously declined over 20% cumulatively in four trading sessions following the landmark approval of its solid tumor CAR-T product Satri-Cel on June 22, amid market concerns over near-term commercialization scale at approximately RMB 990,000 per injection.
(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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