财通证券：小核酸药物龙头招股启动 赛道或成全年度医药主线

Group 1 - The core viewpoint is that small nucleic acid drugs are expected to become the main focus of the global pharmaceutical industry by 2026, driven by advancements in precision medicine and the transition from traditional chemical and biological drugs to targeted therapies [2][3] - Small nucleic acid drugs, as a third-generation therapy capable of intervening in disease processes at the genetic level, are seen as a disruptive innovation, with significant contributions expected from biotech leaders like Arrowhead [2] - The development of small nucleic acid drugs is anticipated to stimulate global pipeline transactions, with companies like Rego Bio focusing on RNA interference (RNAi) for chronic disease treatment [2][3] Group 2 - Rego Bio, established in 2007, specializes in the development of RNAi technology and small nucleic acid drug commercialization, creating a comprehensive R&D platform for small nucleic acid drugs targeting various diseases, particularly chronic conditions [3] - Investment recommendations include focusing on small nucleic acid CDMO companies and key raw material producers that meet FDA audit standards, with specific companies highlighted such as Chengda Pharmaceutical and WuXi AppTec [3]