Core Viewpoint - The stock of Bolekang Vision Cloud-B (02592) has surged over 10% today, with a cumulative increase of nearly 70% this week, driven by positive news regarding patent approvals for its core product CBT-009 [1] Group 1: Stock Performance - As of the latest update, the stock is up 8.82%, trading at 7.9 HKD, with a transaction volume of 6.2189 million HKD [1] - The significant rise in stock price indicates strong market interest and potential investor confidence in the company's future prospects [1] Group 2: Product Development - Bolekang Vision Cloud announced that its wholly-owned subsidiary, ADS USA, has successfully obtained patents from the Japan Patent Office and the European Patent Office for CBT-009 [1] - CBT-009 is a novel atropine eye preparation aimed at treating myopia in children and adolescents aged 5 to 19 [1] - The company anticipates establishing licensing arrangements with major pharmaceutical companies for the production, development, and distribution of CBT-009 in Japan and Europe [1] Group 3: Market Context - A report highlighted that on January 3, 2026, two cornerstone investors of Bolekang Vision Cloud will face a lock-up expiration, which could impact stock liquidity [1] - The stock's performance has been characterized by a lack of institutional funding, leading to insufficient national placement, which may have contributed to initial underperformance in the dark market and on the listing day [1]

Core Viewpoint - The stock price of Bolekang Shiyun-B (02592) has experienced a significant increase of over 50% during a recent five-day rally, drawing attention back to the company after a period of decline since its IPO [1][3]. Group 1: Stock Performance - Since its IPO on July 3, the stock price of Bolekang Shiyun has been in a downward trend, dropping 38% on its first day and remaining volatile with low trading volumes [2][5]. - The stock has seen less than 30 days of trading with a volume exceeding 1 million shares, indicating low investor interest [1][2]. - The recent surge in stock price coincides with the one-month countdown to the unlocking of cornerstone investor shares, raising concerns among investors about potential price corrections [1][5]. Group 2: Technical Analysis - The stock has been fluctuating within the Bollinger Bands since August, with no significant volume increase to support the price movements, indicating a lack of strong market interest [2][5]. - Despite touching the upper Bollinger Band on November 19, the stock experienced a 4.08% decline the following day, suggesting that the recent price increase may not be sustainable [2][5]. Group 3: Cornerstone Investors and Unlocking - Bolekang Shiyun's IPO involved the issuance of 60.582 million shares at an issue price of HKD 10.10, raising a total of HKD 612 million [5][6]. - Two cornerstone investors, Fucai Holdings and Reynold Lemkins, subscribed to a total of 17.72 million shares, representing approximately 2.11% of the total share capital, with a combined investment of USD 22.8 million [5][6]. - As of November 17, the stock price had fallen to HKD 4.33, resulting in a loss of approximately USD 13.03 million for the cornerstone investors, which narrowed to USD 6.41 million after the recent price increase [5][6]. Group 4: Company Fundamentals - Bolekang Shiyun is a clinical-stage ophthalmic biotechnology company focused on developing various therapies, with all its candidate drugs being self-developed [8][9]. - The company has reported net losses of approximately USD 67 million, USD 129 million, and USD 99 million for the years 2022 to 2024, totaling USD 295 million (approximately RMB 2.12 billion) [9][10]. - The lack of commercialized products and ongoing clinical trials contribute to the company's challenges in attracting investor interest [8][9].

Core Viewpoint - The stock price of Bolekang Shiyun-B (02592) has experienced a significant increase of over 50% during a recent five-day rally, drawing attention back to the company after a period of decline since its IPO [1][3]. Group 1: Stock Performance - Since its IPO on July 3, the stock price of Bolekang Shiyun has been in a downward trend, dropping 38% on its first day and remaining volatile with low trading volumes [2][5]. - The stock has seen less than 30 days of trading with a volume exceeding 1 million shares, indicating low investor interest [1]. - The recent surge in stock price coincides with the one-month countdown to the unlocking of cornerstone investor shares, raising concerns among investors about potential price corrections [1][5]. Group 2: Technical Analysis - The stock has been fluctuating within the Bollinger Bands since August, with no significant volume increase to support the price movements, indicating a lack of strong market interest [2][7]. - Despite touching the upper Bollinger Band on November 19, the stock experienced a 4.08% decline the following day, suggesting that the recent price increase may not be sustainable [2][5]. Group 3: Cornerstone Investors and Unlocking - Bolekang Shiyun's IPO involved the issuance of 60.582 million shares at an issue price of HKD 10.1, raising a total of HKD 612 million [5][8]. - Two cornerstone investors, Fucai Holdings and Reynold Lemkins, subscribed to a total of 17.72 million shares, representing approximately 2.11% of the total share capital, with a combined investment of USD 22.8 million [5][6]. - As of November 17, the stock price had fallen to HKD 4.33, resulting in a loss of approximately USD 13.03 million for the cornerstone investors, which narrowed to USD 6.41 million after the recent price increase [5][6]. Group 4: Company Fundamentals - Bolekang Shiyun is a clinical-stage ophthalmic biotechnology company focused on developing various therapies, with all its candidate drugs being self-developed [7][8]. - The company has reported net losses of approximately USD 0.67 billion, USD 1.29 billion, and USD 0.99 billion for the years 2022 to 2024, totaling USD 2.95 billion [8]. - The lack of commercialized products and ongoing clinical trials contribute to the company's challenges in attracting investor interest [7][8].

Core Viewpoint - The company has successfully obtained patents for its core product CBT-009 in both Japan and Europe, which are crucial for its business strategy in the ophthalmic treatment market [1]. Patent Details - A patent was granted by the Japan Patent Office on September 25, 2025, under patent number 7749020, which covers various ophthalmic topical compositions, including a specific formulation of atropine, medium-chain triglyceride liquid carriers, and selected perfluorinated hydrocarbons, aimed at delaying the progression of myopia [1]. - The European Patent Office granted a patent on November 26, 2025, under patent number 4225284, which also includes compositions for treating myopia and other eye diseases, utilizing atropine and perfluorinated hydrocarbons as liquid carriers [1].

Core Viewpoint - The successful patent grants for CBT-009 represent a significant milestone in the product's development, enhancing its global reach and commercial potential [1][3]. Group 1: Patent Achievements - ADS Therapeutics LLC, a wholly-owned subsidiary of the company, has been granted patents in Japan and Europe for CBT-009, which involves various ophthalmic compositions aimed at treating myopia [1]. - The Japanese patent (No. 7749020) was issued on September 25, 2025, and published on October 3, 2025, covering non-aqueous ophthalmic compositions containing specific amounts of atropine and other compounds [1]. - The European patent (No. 4225284) was granted on November 26, 2025, and published on the same day, also focusing on ophthalmic compositions for treating myopia [1]. Group 2: Product Development - CBT-009 is a novel atropine ophthalmic formulation designed for treating myopia in children and adolescents aged 5 to 19, offering improved stability, safety, and patient tolerance compared to existing aqueous formulations [2]. - The combined Phase 1 and Phase 2 clinical trials for CBT-009 were completed in Australia in January 2023, demonstrating good safety and efficacy [2]. - The company received a non-objection letter from the FDA in September 2024, allowing the initiation of Phase 3 clinical trials after a six-month ocular toxicity study [2]. Group 3: Commercialization Potential - The successful patent applications are expected to facilitate collaborations with major pharmaceutical companies for the production, development, and distribution of CBT-009 in key markets like Japan and Europe [3]. - These collaborations and licensing arrangements are anticipated to enhance and accelerate the global commercialization potential of CBT-009 [3].

Core Viewpoint - The successful patent grants for CBT-009 represent a significant milestone in the product's development, enhancing its global reach and commercial potential [1][3]. Group 1: Patent Achievements - ADS Therapeutics LLC has been granted patents in Japan and Europe for CBT-009, which involves non-aqueous ophthalmic compositions aimed at treating myopia [1]. - The Japanese patent (No. 7749020) was issued on September 25, 2025, and published on October 3, 2025, covering various ophthalmic compositions including atropine and specific compounds [1]. - The European patent (No. 4225284) was granted on November 26, 2025, and published the same day, also focusing on compositions for treating myopia [1]. Group 2: Product Development - CBT-009 is a novel atropine ophthalmic formulation designed for treating myopia in children and adolescents aged 5 to 19, offering improved stability, safety, and patient tolerance compared to existing aqueous formulations [2]. - Preclinical studies for CBT-009 began in China and the U.S. in 2021 and 2022, respectively, with combined Phase 1 and 2 clinical trials completed in Australia in January 2023, demonstrating good safety and efficacy [2]. - The company received a non-objection letter from the FDA in September 2024, allowing for the initiation of Phase 3 clinical trials, with ongoing preparations for these trials in China [2]. Group 3: Commercialization Potential - The successful patent applications are expected to facilitate collaborations with major pharmaceutical companies for the production, development, and distribution of CBT-009 in key markets like Japan and Europe [3]. - These collaborations and licensing arrangements are anticipated to enhance and accelerate the global commercialization potential of CBT-009 [3].

CLOUDBREAK PHARMA INC. 撥康視雲製藥有限公司 * 香港交易及結算所有限公司與香港聯合交易所有限公司（「聯交所」）對本公告之內容概不負責，對其 準確性或完整性亦不作任何陳述，並明確聲明概不承擔因本公告全部或任何部分內容而產生或因倚 賴該等內容所引致之任何損失之任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：2592） 自願公告 有關於日本及歐洲成功申請專利之業務更新 本公告乃由撥康視雲製藥有限公司（「本公司」，連同其附屬公司統稱「本集團」）作出的自願公告，以 知會本公司股東及潛在投資者有關本集團的最新業務發展。 於日本及歐洲成功申請專利 本公司董事會（「董事會」）欣然宣佈，本公司於美利堅合眾國（「美國」）特拉華州註冊成立之全資附屬公 司ADS Therapeutics LLC（「ADS USA」）已成功獲授以下專利，該等專利涉及本集團核心產品（定義見 聯交所證券上市規則第18A章）（每項均為「核心產品」）之一CBT-009： 1 (a) 日本專利局（「日本專利局」）根據其於2025年9月25日頒發之專利證書授出一項專利（日本專利編 號：7749020）（「日本專利」），且該項專利 ...

Core Viewpoint - The company announced significant changes in its board of directors, including resignations and new appointments effective December 1, 2025 [1] Group 1: Board Changes - Mr. Lai Hsien-Jung has submitted his resignation as an independent non-executive director, chairman of the nomination committee, member of the audit committee, and member of the remuneration committee [1] - Mr. Li Chao-Chang will be appointed as an independent non-executive director, member of the audit committee, and member of the nomination committee, effective December 1, 2025 [1] - Dr. Ni Jinsong, the chairman of the board, executive director, and CEO, will be appointed as the chairman of the nomination committee, effective December 1, 2025 [1]

格隆汇11月27日丨拨康视云-B(02592.HK)公告，董事会谨此宣布：1.赖显荣已提交辞呈，辞任独立非执 行董事、公司提名委员会主席、公司审核委员会成员及公司薪酬委员会成员，自2025年12月1日起生 效；2.李朝昌将获委任为独立非执行董事、审核委员会成员及提名委员会成员，自2025年12月1日起生 效；3.董事会主席、执行董事兼公司首席执行官NIJinsong将获委任为提名委员会主席，自2025年12月1 日起生效。 ...

根据审核委员会的推荐，国卫会计师事务所有限公司(国卫)已获委任为本公司核数师，自2025年11月27 日起生效，以填补罗兵咸永道辞任后的临时空缺。 拨康视云-B(02592)发布公告，罗兵咸永道会计师事务所(罗兵咸永道)已辞任本公司核数师，自2025年11 月27日起生效。 ...