The Zhitong Finance App learned that Nuocheng Jianhua (09969) is now up more than 4%. As of press release, it has risen 4.41% to HK$5.21, with a turnover of HK$11.394,400.
According to the news, on May 16, Nuochengjianhua announced that the phase II clinical trial of the TYK2 (tyrosine kinase 2) JH2 allosteric inhibitor ICP-488 developed independently by the company to treat psoriasis has completed patient enrollment. ICP-488 showed good efficacy and safety in a phase I study in treating patients with psoriasis.
Furthermore, Goldman Sachs released a research report saying that Nuochengjianhua's sales in the first quarter were weak. Its sales of obutinib were 165 million yuan, up 9% year on year, and down 13% from month to month. Recovery was slower than expected because new indications for treating relapsed/refractory marginal zone lymphoma (MZL) were newly included in the national health insurance catalogue, and it is expected that it will take time for sales to increase. The bank said that Nuochengjianhua's cash balance for the first quarter reached 8.2 billion yuan, providing flexibility for pipeline development, etc. Management believes that given the encouraging sales trend of obutinib in the next quarter, the estimated revenue of obutinib could exceed 900 million yuan this year.