Core Viewpoint - The company, TianKang, has officially announced the initiation of preclinical research for its innovative drug CKBA targeting Alzheimer's disease (AD), based on significant findings from a research team at Shanghai Jiao Tong University [1][2]. Group 1: Drug Development and Mechanism - CKBA is a first-in-class innovative drug that targets the newly identified MFE-2 pathway, which plays a crucial role in the lipid metabolism and neuroinflammation associated with AD [2][4]. - The drug demonstrates a differentiated advantage by being orally administered and capable of crossing the blood-brain barrier, showing improvements in cognitive function, reduction of neuroinflammation, and decreased Aβ plaque accumulation in AD model mice [4]. Group 2: Market Potential and Financial Outlook - The Alzheimer's drug market in China is projected to grow from approximately 6 billion yuan in 2023 to over 26 billion yuan by 2030, with a compound annual growth rate (CAGR) of 19.2%, while the global market is expected to reach 31.44 billion USD [4]. - The company anticipates submitting its phase I clinical application for CKBA in the second half of 2026, supported by cash flow from its existing generic drug business [4]. Group 3: Broader Product Pipeline and Growth Strategy - In addition to AD, CKBA is part of a broader pipeline that includes treatments for vitiligo and rosacea, with ongoing clinical trials showing promising results [5]. - The company is also expanding its generic and modified drug segments, with several products in the pipeline expected to contribute to revenue growth [5][6]. Group 4: Institutional Support and Market Confidence - The company has gained recognition from institutional investors, with significant increases in holdings from the basic pension insurance fund, indicating confidence in the company's growth potential [7][9]. - Management has shown commitment to the company's long-term success, with no plans for share reduction post-lockup and active participation in shareholding [9].
社保基金大举建仓！泰恩康布局阿尔茨海默症千亿蓝海，业绩进入高增长期