Core Insights - The first batch of newly registered companies in the Sci-Tech Innovation Board's growth layer was listed on October 28, with two of the three companies being biopharmaceutical firms, He Yuan Bio (688765) and Biobetter (688759) [1][4] - Both companies experienced significant stock price increases on their first trading day, with He Yuan Bio rising by 213.49% and Biobetter by 74.41% [2][3] Company Performance - He Yuan Bio opened at 88 CNY per share, reaching a high of 91.32 CNY before closing at 91.1 CNY, resulting in a total market capitalization of 32.57 billion CNY and a trading volume of 2.782 billion CNY [2][3] - Biobetter opened at 48.9 CNY per share, with a peak increase of 175.03%, ultimately closing at 31.01 CNY, leading to a market capitalization of 13.96 billion CNY and a trading volume of 1.107 billion CNY [2][3] Financial Status - Both He Yuan Bio and Biobetter have not yet achieved profitability, with projected net losses for 2022 to 2025 ranging from approximately -144 million CNY to -1.87 billion CNY for He Yuan Bio and -188 million CNY to -1.73 billion CNY for Biobetter [5][6] Product Pipeline and Innovation - He Yuan Bio has a robust product pipeline with eight drugs under development, including a recombinant human albumin injection that has received regulatory approval, while two drugs are in Phase II clinical trials [6][7] - Biobetter focuses on innovative drug development for major diseases, with one breakthrough therapy already approved and several others in various stages of clinical trials [6][7] Market Sentiment - The significant stock price increases are attributed to optimistic market expectations regarding the high growth potential of the biopharmaceutical industry and the scarcity of new stocks, which has driven investor sentiment [4][6] - The capital market's acceptance of unprofitable biopharmaceutical companies reflects a supportive environment for technology-driven enterprises, facilitating funding for long development cycles and high capital needs [6][7]
双双大涨！两家未盈利药企同日登陆科创板，均已有产品获批上市