CICC released a research report stating that it maintains the Columbotai Bio-B (06990) “outperforms the industry” rating and believes that the company's assets have long-term value because SKB264 will intensively launch multiple phase III clinical trials, so the target price will be raised by 66.7% to HK$210. The company's performance last year slightly exceeded expectations, and is concerned about product launches and clinical progress of SKB264.
According to the report, due to the uncertainty of milestone payments for the ADC project that the company cooperated with MSD (MSD), the bank lowered this year's milestone payment forecast by 26.5% to 812 million yuan, and lowered the net loss forecast from the original 694 million yuan to a loss of 1.13 billion yuan. The bank introduced a revenue forecast of 555 million yuan for next year, and a net loss forecast of 1.46 billion yuan.