The Zhitong Finance App learned that the Pharmaceutical Ming Junuo-B (02126) fell nearly 6% in early trading. As of press release, it fell 5.5% to HK$4.47, with a turnover of HK$2,364,900.

UBS released a research report saying that with the launch of products Yescarta and Carteyva, the mainland cell therapy industry rose last year. However, the industry is still immature, approval of indications is limited, and penetration is low. Based on recent adverse factors and a higher than expected recurrence rate, the bank's view of the mainland cell therapy industry is not positive, but it remains optimistic in the long run.

UBS downgraded the Pharmacomin Junuo-B rating from “buy” to “neutral”. The target price was lowered from HK$21 to HK$5.5, and the sales forecast also dropped from $4.5 billion to $3.4 billion to reflect low penetration and future pressure on the average price of CAR-T products.