Core Viewpoint - The stock of Lai Kai Pharmaceutical-B (02105) rose over 5% following the announcement of an exclusive agreement with Qilu Pharmaceutical for the research, development, and commercialization of LAE002 in China [1] Group 1: Company Developments - Lai Kai Pharmaceutical has signed an exclusive agreement with Qilu Pharmaceutical, allowing Qilu to conduct research and commercialization of LAE002 in China [1] - The company is responsible for completing the Phase III clinical trial for HR+/HER2- breast cancer until the first indication receives new drug application approval in China [1] - Lai Kai Pharmaceutical is entitled to receive a non-refundable upfront payment of up to 530 million RMB and milestone payments for clinical development, with a potential total of 2.045 billion RMB in upfront and milestone payments [1] Group 2: Financial Projections - The company can earn a tiered sales revenue share of over 10% to 20% from future net sales in the licensed region [1] - Yongxing Securities forecasts that LAE002 is expected to submit a New Drug Application (NDA) in the first half of 2026 [1] - The company’s pipeline is progressing smoothly, with positive MAD data for LAE102 and FDA approval for the IND application of LAE103 [1] Group 3: Analyst Ratings - Yongxing Securities has initiated coverage on the company with a "Buy" rating, utilizing a DCF valuation method for LAE102 [1]
港股异动 | 来凯医药-B(02105)早盘涨超5% LAE002预计26年上半年提交NDA