Conoa-B (02162) rose more than 7% in the intraday period. As of press release, it was up 5.11% to HK$3.39, with a turnover of HK$396.561 million.
According to the news, Conoah announced its annual results. The group obtained revenue of RMB 354 million, an increase of 254% over the previous year; the owner of the parent company should have accounted for a loss of 359 million yuan, an increase of 16.63% over the previous year. CICC said that the sharp increase in revenue was mainly due to CMG901's external licensing of AstraZeneca cooperation revenue, and the results were in line with expectations.
The bank pointed out that CM310 is expected to be approved for marketing within the year, focusing on reading data on allergic rhinitis and building a sales team; CMG901 has successfully carried out clinical registration and has potential to treat various solid tumors such as gastric cancer and pancreatic cancer. It is recommended to pay attention to further clinical development trends in AstraZeneca in the future. In addition, a number of early research molecules have entered the clinical stage, and the company continues to develop steadily.