消息面上，来凯医药此前与齐鲁制药签订独家协议，许可齐鲁制药在中国地区进行LAE002的研究、开 发及商业化。公司负责完成HR+/HER2-乳腺癌III期临床试验，直至首个适应症在中国获得新药申请批 准，有权获得最高5.3亿人民币不可退还的首付款与临床开发里程碑付款，并最高可获得20.45亿元的首 付款和里程碑付款，同时可收取许可区域内未来净销售额的十余个至二十余个百分点梯度销售分成。 来凯医药-B(02105)早盘涨超5%，截至发稿，涨5.63%，报16.9港元，成交额2869.72万港元。 甬兴证券发布研报称，LAE002预计26年上半年提交NDA。公司管线推进顺利，LAE002授权予齐鲁， LAE102的MAD数据优秀，LAE103的IND申请已获FDA批准；该行对LAE102采用DCF估值法，首次覆 盖，给予公司"买入"评级。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: 來凱醫藥有限公司 呈交日期: 2025年12月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02105 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | 0 | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 | USD | | 50,000 | 本月底法定/註冊股本總額： USD 50,000 FF3 ...

每经AI快讯，来凯医药-B(02105.HK)涨超4%，截至发稿，涨4.92%，报17.27港元，成交额3214.93万港 元。 ...

Core Viewpoint - The announcement by Lai Kai Pharmaceutical-B (02105) regarding the licensing agreement for its breast cancer candidate drug LAE002 (afuresertib) to Qilu Pharmaceutical is a significant development in the domestic biopharmaceutical sector, with a total agreement value of up to 2.045 billion yuan [1] Group 1: Company Developments - Lai Kai Pharmaceutical's stock rose over 6%, currently trading at 17.27 HKD with a transaction volume of 32.1493 million HKD [1] - The licensing agreement includes an upfront payment and a revenue-sharing model where Lai Kai will receive 10%-20% of sales, ensuring funding for further research and development [1] Group 2: Product and Market Potential - LAE002 is a potent AKT inhibitor, with its global development progress second only to AstraZeneca's Capivasertib in the HR+/HER2- breast cancer indication [1] - The peak sales potential for LAE002 in the Chinese market is estimated to reach 2 billion yuan, while global sales could reference Capivasertib, which is projected to achieve 700-800 million USD in sales this year, with peak sales potentially exceeding 1-2 billion USD [1]

Core Viewpoint - LaiKai Pharmaceutical-B (02105) has seen a significant stock increase of over 6%, currently trading at 17.27 HKD, with a transaction volume of 32.15 million HKD, following the announcement of a major licensing deal for its breast cancer candidate drug LAE002 (afuresertib) in China [1] Group 1: Licensing Agreement - On November 12, LaiKai Pharmaceutical announced the licensing of its breast cancer candidate drug LAE002 to Qilu Pharmaceutical for a total agreement value of up to 2.045 billion RMB [1] - In addition to the upfront payment, LaiKai Pharmaceutical will receive a tiered revenue share of 10%-20% from sales, providing substantial funding for future research and development [1] - This transaction is noted as one of the larger licensing agreements in the domestic biopharmaceutical sector this year [1] Group 2: Drug Profile and Market Potential - LAE002 is a potent AKT inhibitor, with its global development progress second only to AstraZeneca's Capivasertib in the HR+/HER2- breast cancer indication [1] - Industry expectations suggest that LAE002 could achieve peak sales of 2 billion RMB in the Chinese market, while global performance may be benchmarked against Capivasertib, which is projected to generate sales of 700-800 million USD this year, with peak sales potentially exceeding 1-2 billion USD [1]

Group 1: Semiconductor Industry - Semiconductor stocks showed an upward trend, with Huahong Semiconductor rising 1.24% and SMIC increasing by 1.02%. The semiconductor industry is expected to continue its upward trajectory through 2025, driven by U.S. export controls and China's "14th Five-Year Plan" emphasizing technological self-reliance [1][2] Group 2: Pharmaceutical Sector - Lakai Pharmaceutical saw a significant increase of over 15%, with a cumulative rise of over 40% this month. The company has granted rights for its breast cancer candidate drug LAE002 to Qilu Pharmaceutical for a total transaction amount of 2.045 billion yuan, along with a potential sales commission of 10% to 20% [1] Group 3: Technology and AI - Cambridge Technology experienced a nearly 10% rise, with reports indicating that Meta is in talks with Google to potentially purchase TPUs for its data centers starting in 2027, with a procurement scale potentially reaching several billion dollars [1] - Guohua Tong surged over 14% after Huawei announced the launch of its first chat robot, "Smart Hanhan," priced at 399 yuan, marking Huawei's entry into the smart companionship market [2] - Xiaoma Zhixing reported a revenue increase of 72% year-on-year to 25.4 million USD in Q3 2025, with Robotaxi services growing by 89% [3] Group 4: Consumer Goods and Entertainment - Pop Mart rose over 8% after Sony Pictures acquired the film adaptation rights for Pop Mart's popular IP "Labubu," with plans for a movie series already in development [3] - Yuran Agriculture increased by over 9%, being recognized as the world's largest raw milk supplier with a comprehensive business model covering the entire dairy industry chain [4] Group 5: U.S. Market Movements - Robinhood's stock rose over 10.93% as the company announced the launch of a futures and derivatives exchange, deepening its investment in predictive markets [5] - Oracle's stock increased by 4.02% after Deutsche Bank raised its target price based on the company's growth potential in cloud infrastructure and AI services [6]

Core Viewpoint - 来凯医药-B (02105.HK) has experienced a significant increase in its stock price, rising over 15% in a single day and accumulating a total increase of over 40% within the month [2] Summary by Category - **Stock Performance** - The stock price of 来凯医药-B has risen by 15.38%, reaching 16.95 HKD [2] - The total trading volume for the day was 58.2171 million HKD [2]

来凯医药-B(2105.HK)大涨超16%，最高触及17.05港元，创逾一个月新高。 LAE002是全球两种处于晚期临床开发阶段的针对乳腺癌及前列腺癌的AKT抑制剂之一。目前LAE002针 对HR+/HER2-乳腺癌III期临床试验(AFFIRM-205)招募正按计划进行。来凯将负责完成本次III期临床试 验(AFFIRM-205)，目标于2025Q4完成受试者入组，并计划于2026年向CDE提交NDA。(格隆汇) 消息面上，11月12日，来凯医药将乳腺癌候选新药LAE002 (afuresertib)中国地区权益授予齐鲁制药，交 易总金额达20.45亿元。此外，来凯医药还有权收取十余到二十余百分点的梯度销售分成。 ...

Core Viewpoint - The stock of Lai Kai Pharmaceutical-B (02105) has surged over 15%, with a cumulative increase of over 40% in November, driven by a significant licensing deal for its breast cancer candidate drug LAE002 [1] Group 1: Stock Performance - As of the report, Lai Kai Pharmaceutical's stock rose by 15.38%, reaching HKD 16.95, with a trading volume of HKD 58.2171 million [1] Group 2: Licensing Agreement - On November 12, Lai Kai Pharmaceutical granted rights for LAE002 (afuresertib) in China to Qilu Pharmaceutical, with a total transaction value of approximately RMB 2.045 billion [1] - The company is entitled to receive a tiered sales commission ranging from 10% to 20% [1] Group 3: Sales Projections - According to brokerage reports, the domestic sales peak for LAE002 is estimated to be around RMB 2 billion [1] - Global sales peak can be referenced from Capivasertib, which has a sales forecast of USD 700-800 million this year, with a peak sales estimate of USD 1-2 billion [1]

Core Viewpoint - The stock of Lai Kai Pharmaceutical-B (02105) has surged over 15%, with a cumulative increase of over 40% in the month, driven by significant news regarding its breast cancer candidate drug LAE002 [1] Company Summary - Lai Kai Pharmaceutical's stock price reached 16.95 HKD, with a trading volume of 58.22 million HKD as of the report [1] - On November 12, Lai Kai Pharmaceutical granted the rights for LAE002 in China to Qilu Pharmaceutical, with a total transaction amount of 2.045 billion RMB [1] - The company is entitled to receive a tiered sales commission ranging from 10% to over 20% [1] Industry Summary - The domestic sales peak for LAE002 is estimated to be around 2 billion RMB, while global sales peak can be referenced from Capivasertib [1] - Capivasertib is projected to have sales expectations of 700-800 million USD this year, with a sales peak estimated between 1-2 billion USD [1]