刺激，单日涨60%到跌60%，50倍“妖股”药捷安康绷不住了

Core Viewpoint - The stock of Yaojie Ankang (2617.HK) experienced extreme volatility, reaching a peak of 679.5 HKD per share before plummeting by 53.73% to close at 192 HKD, resulting in a market capitalization loss of nearly 200 billion HKD [1][3]. Company Overview - Yaojie Ankang, founded in 2014, is a clinical-stage biopharmaceutical company focused on developing innovative small molecule therapies for oncology, inflammation, and cardiovascular metabolic diseases [4]. - The company completed nine rounds of financing before its IPO, raising approximately 1.723 billion HKD from over twenty institutions, with a valuation increase from 263 million HKD to 4.59 billion HKD prior to listing [4]. Stock Performance - The stock was listed on the Hong Kong Stock Exchange on June 23, 2023, with an initial price of 13.15 HKD per share, achieving a 50-fold increase in less than three months [3]. - Following its inclusion in the Hong Kong Stock Connect on September 8, 2023, the stock surged over 200% in the subsequent seven trading days [3]. Product Pipeline - The core product, Tinengotinib, is a multi-target kinase inhibitor aimed at key pathways including FGFR/VEGFR, JAK, and Aurora, with no direct competitors in development globally [5]. - On September 10, 2023, the company announced that it received clinical approval for a Phase II trial of Tinengotinib in combination with Fulvestrant for treating hormone receptor-positive, HER2-negative metastatic breast cancer [6]. Financial Performance - Yaojie Ankang has not yet commercialized any products and is currently operating at a loss, with projected pre-tax losses of 252 million HKD, 343 million HKD, and 275 million HKD for the years 2022, 2023, and 2024, respectively, totaling 870 million HKD [6]. Major Shareholders - The chairman and actual controller, Wu Yongqian, has over 27 years of experience in the pharmaceutical industry and holds 12.06% of the company's shares, with a total voting power of 34.29% [8]. - As of June 2023, Wu's personal stake was valued at approximately 9.2 billion HKD based on the closing price on September 16, 2023 [8].