Rongchang Biotech (09995) rose more than 9% in the afternoon. As of press release, it was up 7.9% to HK$33.45, with a turnover of HK$68.303 million.
The Zhitong Finance App learned that Rongchang Biotech (09995) rose more than 9% in the afternoon. As of press release, it had risen 7.9% to HK$33.45, with a turnover of HK$68.303 million.
According to the news, Rongchang Biotech recently released its annual results, achieving annual revenue of 1,083 million yuan, an increase of 40.26% over the previous year; net loss was 1,511 billion yuan, an increase of 512 million yuan over the previous year. In addition, the company issued an announcement that it intends to raise no more than 2.55 billion yuan in specific targets for the company's new drug research and development projects.
CITIC Construction Investment pointed out that in 2024, the company has many catalysts, and overseas SLE3 clinical phase I data of Taitacipu is expected to be read. At the same time, overseas back-line UC indications for verdicitumab are expected to be completed and submitted for marketing.
The bank pointed out that as the company's commercialization team matures, the company's two core products will see significant increases in sales and cost control. Sales of both products are expected to increase by more than 50% year-on-year in 2024, and subsequent commercialization can be expected. At the same time, as the company plans to raise no more than 2.55 billion yuan in capital from specific targets, the company's overall financial structure is expected to be optimized, and research and development of new drugs under development is expected to be promoted.