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Citi Starts Abbisko Cayman at Buy With HK$8.50 Price Target
HK Stocks Update: Pharmaceutical stocks continue to strengthen, AstraZeneca-B (01541) expands its gains in the afternoon. Hong Kong approval mechanism will be extended to all new drugs starting from November.
Pharmaceutical stocks continue to strengthen, as of the time of publication, Yimengangke-B (01541) rose by 22.76% to 7.65 Hong Kong dollars; zai lab (09688) rose by 15.25% to 25.7 Hong Kong dollars; Heyu-B (02256) rose by 8.82% to 4.32 Hong Kong dollars; tigermed (03347) rose by 11.65% to 41.2 Hong Kong dollars; wuxi bio (02269) rose by 6.68% to 17.56 Hong Kong dollars.
Wah Yuet-B [02256] is now trading at 4.37 Hong Kong dollars, with a price increase of 10.08%.
As of 10:34, Hua Yu-B [02256] reported HK$4.37, up HK$0.4 or 10.08% from the previous closing price of HK$3.97, with a trading volume of 21.8823 million Hong Kong dollars. The highest price today is HK$4.37, and the lowest price is HK$3.95. Based on the closing price of yesterday, the 10-day average price is HK$3.65, and the 50-day average price is HK$3.30. The current PE ratio is -5.40 times, and the 14-day relative strength index is 55.94.
Zhitong Hong Kong stocks have learned early that starting in November, the application for listing licenses for innovative drugs and other varieties can enjoy priority services. Tesla (TSLA.US) surged nearly 22% overnight.
With the approval of the National Medical Products Administration, starting from November 1, 2024, priority front-end services will be provided for the marketing approval applications of innovative drugs and varieties confirmed to be eligible for priority review and conditional approval procedures through communication and verification.
Abbisko Cayman's Unit Presents Two Preclinical Cancer Programs at the Barcelona Conference
Honor-B (02256.HK) subsidiary released preclinical research results of PRMT5*MTA and oral KRASG12D projects at the EORTC-NCI-AACR conference.
On October 23, Gelonghui announced that its subsidiary Shanghai Heyu Biomedical Technology Co., Ltd. (Heyu Medical) announced that the results of two preclinical studies of Heyu Medical were presented at the 36th International Molecular Targeting and Cancer Treatment Conference held in Barcelona, Spain in October (EORTC-NCI-AACR Conference, "ENA Conference"). These two research results respectively demonstrate Heyu Medical's potential best-in-class PRMT5*MTA inhibitor ABSK131 and oral KRASG12D small molecule inhibitor in its research pipeline.
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