Chunxin Biotech-B (02509) rose more than 7%, as of the deadline of this report, up 7.54%, closing at 24.95 Hong Kong dollars.
According to the Wisdom Finance APP, Chunxin Biotech-B (02509) rose more than 7%, as of the deadline of this report, up 7.54%, closing at 24.95 Hong Kong dollars.
On the news front, in the first half of this year, Chunxin Biotech achieved a revenue of 44.919 million yuan (RMB, the same below); gross profit of 37.756 million yuan. The announcement stated that the revenue came from licensing fees and research service fees for external authorized transactions QX008N and QX004N, reflecting the group's strong research and development capabilities. As of June 30, 2024, the group is able to conduct efficient research and has obtained approvals for 20 INDs over the past 9 years (19 from the National Medical Products Administration and 1 from the FDA), and has won multiple awards recognizing the group's research and development capabilities.
In July this year, the company announced a cooperation agreement with the wholly-owned subsidiary of Huadong Medicine, China Mei Huadong, under which the company granted China Mei Huadong the exclusive joint development rights of the target product in the authorized region and field; the option for exclusive market promotion rights; and the priority right of the marketing authorization holder transfer. The company stated that this move brings commercial benefits to the group, as cooperation with China Mei Huadong is beneficial for the target product to fully expand into multiple indications, unlock the product's value; accelerate the development progress of the ongoing Phase III clinical trials of the target product, and provide more financial support to the group.