恒生生物科技指数大涨3.95%，创新药继续领涨板块。信达生物（01801）涨超6%；三生制药（01530） 涨超7%；康方生物（09926）涨超4%；远大医药（00512）涨超6%；药明巨诺-B(02126)涨超8%。 映恩生物-B(09606)涨超12%创上市新高，公司自研ADC管线丰富，已吸引多家国际医药巨头关注。 中国商务部依法依规对稀土相关物项出口许可申请进行审查，已依法批准一定数量的合规申请，并将持 续加强合规申请的审批工作。中国稀土(00769)大涨43%，金力永磁(06680)涨0.43%。 智通财经APP获悉，港股恒生指数涨1.01%，涨240点，报24033点；恒生科技指数涨2.30%。港股早盘成 交1518亿港元。 金蝶国际(00268)涨超7%，公司近期推出AI Agent矩阵，机构看好公司今年归母净利扭亏转正。 高鑫零售(06808)涨超9%，公司正按计划改造业务，精细化运营下盈利能力有望稳步改善。 京东集团-SW(09618)涨近5%，围绕海内外业务等多方面与华润集团签署战略合作协议。 阿里影业(01060)大涨超13%，近半个月来累涨近1.4倍，公司聚焦大麦演出以及IP衍生品。 金 ...

那么创新药行情能否持续？ A股创新药板块强势回归，概念股继续上涨。 5月29日，创新药板块多只个股掀起涨停潮。舒泰神（300204.SZ）以20%涨停，股价刷新近三年新高， 睿智医药（300149.SZ）、益方生物（688382.SH）均收涨20%，华森制药（002907.SZ）则实现三连 板。 港股市场也同步走强。当天，药明巨诺（02126.HK）收涨19.88%，药明生物（02269.HK）、微创医疗 （00853.HK）均涨超10%，多只创新药ETF年内涨幅突破30%，港股创新药ETF涨超40%，领跑同类产 品。 一位医药行业券商分析师称， 2025年上半年，医药板块得益于集采等政策趋势优化、AI产业赋能等利 好因素推动，表现出过去三年以来最好的收益。当前，医药创新进入收获期，预计下半年医疗健康产业 的业绩和估值修复趋势将较为确定，分化也将更加明显。 热度能否持续？ 过去几年，医药板块跌幅较大。但今年二季度以来，板块反弹明显。 5月19日25日的一周，创新药ETF单周飙涨8%以上，港股通创新药ETF、创新药ETF、医疗保健ETF涨幅 居前，26日以来接力涨势，5只创新药ETF一周内累计涨幅超过5%。 华 ...

港股收评：港股主要股指今日持续走高 生物医药股涨幅居前 金十数据5月29日讯，港股主要股指今日持续走高，截至收盘，恒生指数收涨1.35%，恒生科技指数大 幅上涨2.46%。恒指大市成交额达2268.55亿港元。板块个股方面，线上零售概念今日强势，美团 (03690.HK)大涨6.6%，快手(01024.HK)涨近5%，百度(09888.HK)、阿里巴巴(09988.HK)均涨近2%。生 物医药板块同样大涨，药明巨诺(02126.HK)涨近20%，药明生物(02269.HK)涨超10%。香港港交所 (00388.HK)近日表现活跃，今日盘中一度涨2.56%，报401港元，最终收涨2.4%报400.4港元，股价创 2022年2月以来新高。 ...

消息面上，5月30日-6月3日，2025年美国临床肿瘤学会（ASCO）年会将在美国芝加哥举行。今年 ASCO年会上，中国研究者共计70余项原创研究入选口头报告。交银国际指出，2025ASCO摘要中，中 国创新药入选数量再创新高，印证中国创新药企研发竞争力实现跨越式突破，国际影响力日渐提高。 ASCO大会召开在即，LBA重磅数据即将揭晓，创新药板块有望迎来关注热潮、并有望在未来推动更多 出海交易达成，市场情绪与板块估值将进入正向修复通道。 此外，特朗普关税措施被"叫停"，带动市场情绪回暖。当地时间5月28日，美国联邦法院阻止了美国总 统特朗普在4月2日"解放日"宣布的关税政策生效，并裁定特朗普越权，对向美国出口多于进口的国家征 收全面关税。上述裁定暂停了特朗普绝大多数的关税举措——全球统一关税、对中国和其他国家加征的 关税，以及对中国、加拿大和墨西哥征收的芬太尼相关关税，均因该裁定而暂停。 智通财经APP获悉，医药股走势强劲，截至发稿，药明巨诺-B(02126)涨19.3%，报2.06港元；君实生物 (01877)涨13.59%，报20.65港元；昭衍新药(06127)涨13.38%，报12.54港元；加科思- ...

加科思-B(01167)再涨超4%，年内已涨超3倍，戈来雷塞片获批上市并冲刺医保国谈。 鸿腾精密(06088)涨超6%，英伟达数据中心收入大涨超70%，供应商已解决机架过热问题。 黑芝麻（000716）智能(02533)涨超9%，近日展示面向机器人、辅助驾驶及边缘计算领域的全栈解决方 案。 港股恒生指数涨0.64%，涨149点，报23407点，恒生科技指数涨1.56%。港股早盘成交1109亿港元。 当地时间5月28日，美国联邦法院阻止了美国总统特朗普在4月2日"解放日"宣布的关税政策生效，并裁 定特朗普越权。CRO概念股涨幅居前，凯莱英（002821）(06821)涨4%；药明生物(02269)涨8.76%；康 龙化成（300759）(03759)涨4.38%；药明康德（603259）(02359)涨5%。 药明巨诺-B(02126)涨超18%，瑞基奥仑赛第四项新适应症上市申请获受理。 君实生物(01877)再涨超9%，君适达新增两项适应症获批，公司加速推进在研管线临床进度。 重庆机电(02722)涨2%，康明斯业绩体现数据中心景气需求，重庆康明斯为发动机供应商。 小鹏汽车-W(09868)涨近4%，MONA ...

港股生物技术板块拉升，药明巨诺(02126.HK)涨11.7%，药明合联(02268.HK)涨7.34%，药明生物 (02269.HK)涨6.85%，君实生物(01877.HK)涨近6%。 ...

本次sBLA是基于一项将倍诺达®用于一线治疗失败后不适合自体干细胞移植的成人r/rLBCL的单臂、多 中心、关键性临床研究的结果。这项在中国开展的2期单臂开放研究纳入了接受过靶向CD20抗体和蒽环 类一线系统治疗失败的且不适合ASCT的r/r LBCL患者。患者在清淋化疗后接受了100×106CAR+T细 胞。截至2025年1月21日，已完成49例患者的回输并完成了至少3个月的随访；基于48例可进行疗效评估 的患者，瑞基奥仑赛展现了显着的临床疗效和良好的安全性，最佳客观缓解率(ORR)为81.3%，最佳完 全缓解率(CRR)为54.2%，重度(≥3级)的细胞因数释放综合征(CRS)发生率为4.1%，无重度神经毒性(NT) 发生。 格隆汇5月28日丨药明巨诺-B(02126.HK)宣布中国国家药品监督管理局("NMPA")已受理其细胞免疫治疗 产品倍诺达®(瑞基奥仑赛注射液)用于二线治疗复发或难治成人大B细胞淋巴瘤("r/r LBCL")患者的新适 应症上市许可申请("sBLA")。这是药明巨诺针对倍诺达®递交的第四项上市许可申请。于2025年1月， 倍诺达®被NMPA授予二线治疗r/r LBCL的突破性治疗药 ...

NO.1 石药集团就伊立替康脂质体注射液订立独家许可协议 5月15日，石药集团发布公告，称集团已与Cipla USA,Inc.就伊立替康脂质体注射液于美国的商业化订立 独家许可协议。根据条款，集团将收取1500万美元的首付款，亦有权收取最高2500万美元的潜在首次商 业销售和监管里程碑付款，以及最高10.25亿美元的潜在额外商业销售里程碑付款，以及根据产品在该 地区的年度销售净额计算的双位数梯度销售提成。 点评：本事件是公司国际化战略的重要突破，超过10亿美元的潜在交易额显示了伊立替康脂质体注射液 在美国市场的巨大商业潜力，也反映了石药集团在创新药研发和国际合作方面的强大实力。这一合作将 提升公司在全球市场的影响力，增强投资者对公司未来盈利能力和国际化进程的信心，有望推动股价上 涨。 每经记者｜林姿辰 每经编辑｜杨夏 丨 2025年5月16日 星期五 丨 点评：本事件是公司在肿瘤治疗领域的重大突破。该药物针对HR+、HER2-晚期或转移性乳腺癌患者， 具有广阔的市场潜力。随着新药获批，四环医药在创新药领域的竞争力显著提升，有望为公司带来新的 业绩增长点，同时也将增强投资者对公司研发实力和未来发展的信心，推动其 ...

格隆汇勾股大数据显示，上一交易日卓越教育集团(03978)、中国太保(02601)、维亚生物(01873)、天津 发展(00882)、栢能集团(01263)、中化化肥(00297)、国际资源(01051)、金利来集团(00533)、惠理集团 (00806)、招商证券(06099)、弘业期货(03678)、途虎-W(09690)、中信建投证券(06066)、力量发展 (01277)、顺丰同城(09699)、吉利汽车-R(80175)、读书郎(02385)、基石药业-B(02616)、首钢资源 (00639)、GHW INTL(09933)、冠轈控股(01872)、嘉里建设(00683)、中煤能源(01898)、鹰君(00041)、科 济药业-B(02171)、保利置业集团(00119)、美丽田园医疗健康(02373)、百度集团-SW(09888)、京东方精 电(00710)、卡罗特(02549)、新特能源(01799)、百威亚太(01876)、丽珠医药(01513)、应星控股-二千五 (01440)、理想汽车-W(02015)、超盈国际控股(02111)、石四药集团(02005)、申万宏源香港(00218)、中 ...

Financial Performance - In 2024, JW Therapeutics generated nearly RMB 160 million in revenue from the sales of Benaodai®, maintaining stability compared to 2023[9]. - Revenue for the year ended December 31, 2024, was RMB 158.2 million, a decrease of 9.0% from RMB 173.9 million for the year ended December 31, 2023[13]. - Gross profit decreased by 12.4% to RMB 77.3 million, with a gross margin of 48.9%, down from 50.7% in the previous year[14]. - The net loss for the year ended December 31, 2024, was RMB 590.6 million, a reduction from RMB 768.0 million in the previous year[15]. - The adjusted loss for the year ended December 31, 2024, decreased to RMB 405.5 million from RMB 514.5 million for the year ended December 31, 2023, primarily due to reduced general and administrative expenses[19]. - Other income and losses decreased to RMB 147.6 million from RMB 219.2 million, reflecting a reduction in impairment losses related to licenses[15]. - Total assets decreased to RMB 1,680.4 million as of December 31, 2024, down from RMB 2,146.1 million in the previous year[17]. - As of December 31, 2024, cash and cash equivalents amounted to RMB 757.4 million, a decrease of RMB 248.5 million compared to RMB 1,005.9 million as of December 31, 2023[18]. - The company had a cash outflow of RMB 248.5 million during the year, primarily due to R&D expenses and administrative costs[87]. - The total number of employees decreased by 29.4% to 281 as of December 31, 2024, compared to 398 in 2023[98]. Research and Development - The company initiated a Phase I clinical trial for relma-cel in treating SLE, with patient enrollment completed by the end of 2024[10]. - The company aims to continue the development of Beiduo Da® for treating other hematological malignancies and autoimmune diseases, with a new drug application submission planned[12]. - The company has made significant progress in developing innovative products with global commercialization potential[22]. - The company is focused on expanding its pipeline of CAR T-cell therapies targeting various hematological malignancies and autoimmune diseases[40]. - The company has initiated clinical development for cell therapy products targeting MAGE-A4 and DLL3 for solid tumors, and started IND research for relma-cel as a potential treatment for SLE[36]. - The company is developing a targeted therapy for SLE, which is anticipated to capture a significant market share due to the high treatment demand[55]. - JWTCR001, a specific cell therapy product targeting MAGE-A4, has received priority review from the FDA for its application in treating synovial sarcoma[57]. - The company is advancing multiple candidates for solid tumors, with ongoing clinical trials for products targeting HCC and other malignancies[56]. Product Development and Approval - Benaodai® received approval from the National Medical Products Administration in August 2024 for the treatment of r/r MCL patients, becoming the first cell therapy product approved in China for this indication[10]. - The National Medical Products Administration accepted the supplemental new drug application for Benauda to treat r/r MCL adult patients in early 2024, with priority review granted[36]. - The company plans to submit a new drug application for Beinuoda® for the treatment of r/r MCL patients in the first half of 2025, following the completion of patient enrollment in the clinical trial[27]. - Relma-cel has received breakthrough therapy designation for second-line treatment of r/r LBCL, with the first patient enrolled in November 2023 and completion of enrollment expected in H2 2024[44]. Market Strategy and Expansion - JW Therapeutics is focusing on three main areas for progress in 2025, aiming to lead the development of high-quality cell immunotherapy products in China and globally[11]. - The company is actively seeking business collaboration opportunities with domestic and international partners to enhance clinical development efficiency and generate positive cash flow[12]. - The company is focusing on international expansion and developing innovative pipeline products targeting blood cancers, solid tumors, and autoimmune diseases[28]. - The commercial team has been strengthened to enhance the commercialization of Benauda in China, focusing on training healthcare professionals and expanding insurance coverage[34]. Cost Management and Efficiency - Research and development expenses decreased by 31.6% to RMB 283.0 million, primarily due to optimization of R&D personnel and reduced employee benefits expenses[14]. - Sales expenses increased by 24.0% to RMB 140.4 million, driven by exploration of various commercialization methods[14]. - The company has implemented a cost reduction plan, including sourcing key raw materials from domestic suppliers, to enhance efficiency and control costs[29][35]. - The company has streamlined its organization to enhance sales revenue growth and operational efficiency[22]. Leadership and Governance - Liu Min was appointed as the CEO and Executive Director of the company on July 31, 2024, bringing over 25 years of experience in the pharmaceutical industry[113]. - The company has a strong leadership team with diverse backgrounds in the biopharmaceutical sector, including experience from major firms like Roche and Merck[115][118]. - The company has established a robust governance structure with independent directors providing oversight and strategic advice[120]. - The company is committed to regulatory compliance and effective corporate governance to support its growth initiatives[113]. Challenges and Risks - The company has incurred significant losses since its inception and expects to continue experiencing losses in the foreseeable future[137]. - The lengthy and costly clinical development process for biopharmaceutical products is fraught with uncertainty, and early research results may not predict future trial outcomes[137]. - Regulatory approval processes for candidate products are lengthy, time-consuming, and unpredictable, which could severely impact the company's business if approvals are delayed or not obtained[140]. - The company may face difficulties in production processes, especially in developing or scaling up production capacity for its cell therapy products[140]. Employee and Compensation - Total payroll costs for the year were RMB 227.7 million, down from RMB 323.6 million in the previous year, representing a 29.6% reduction[98]. - The employee distribution by function as of December 31, 2024, is as follows: Production 41.3%, R&D 25.3%, Commercial 17.4%, and Support Functions 12.8%[173]. - The company has adopted various incentive plans, including pre-IPO and post-IPO incentive plans[174].