The Zhitong Finance App learned that Cornerstone Pharmaceutical-B (02616) rose more than 5%. As of press release, it rose 4.5% to HK$2.32, with a turnover of HK$5.909,400.
According to the news, Cornerstone Pharmaceutical recently announced its 2023 interim results. Total revenue reached RMB 261.5 million (same unit), which is basically the same as the previous year; gross profit is about 153 million yuan. The announcement stated that the Group has four listed products, continues to generate stable revenue, and provides financial resources and capital for further growth plans.
Southwest Securities pointed out that the company's commercial expansion is rapid, and its financial situation is stable. Sales of the three precision therapeutics increased 53% year-on-year, and commercial gross margin increased to 59% from 47% in the same period. Furthermore, the pipeline is progressing smoothly, and multiple indications are expected to continue to be implemented. The bank anticipates that from the end of 2023 to 2024, multiple indications of sugarlimab will be implemented in China and overseas.