BIOKIN PHARMACEUTICAL(SH:688506) Mei Ri Jing Ji Xin Wen·2025-09-07 23:56Company Overview - Baili Tianheng (688506.SH) recently reached a historical high stock price of 410 CNY per share, with a market capitalization exceeding 164.4 billion CNY [2] - As of September 5, 2023, the stock price closed at 388.02 CNY per share, with a market capitalization of over 150 billion CNY [4] Stock Performance - Since its listing on the Sci-Tech Innovation Board in January 2023 at an initial price of 24.7 CNY per share, Baili Tianheng's stock has increased over 14 times [3] - The stock has shown significant growth, with projected price increases of 37.05% and 102.38% for 2024 and 2025, respectively [4] Major Shareholder - The actual controller, Zhu Yi, holds 74.35% of the shares, with the value of his holdings estimated at approximately 115.69 billion CNY [4] - Zhu Yi's wealth is estimated at 95 billion CNY, making him the richest person in Sichuan province [4] Product Development - Baili Tianheng's drug Iza-bren, a first-in-class dual-specific antibody-drug conjugate (ADC), has been accepted for priority review by the National Medical Products Administration for treating advanced or metastatic nasopharyngeal carcinoma [4][5] - The company has 15 innovative drugs in clinical stages and 2 in IND acceptance stages, with 3 drugs in Phase III clinical trials [6] Industry Context - The ADC sector has become a focal point in cancer treatment, with China emerging as a key player in ADC research and development, accounting for approximately 40% of global ADC pipelines [7] - The market for innovative drug concepts has seen significant growth, with the Hang Seng Hong Kong Stock Connect Innovative Drug Index rising over 100% this year [5]