宝济药业-B午前涨逾10% 较招股价26.38港元已涨超440%

Core Viewpoint - Baoyi Pharmaceutical-B (02659) has seen its stock price rise over 440% from its IPO price of 26.38 HKD, reaching a high of 143 HKD, indicating strong market interest and potential for future growth [1][5]. Group 1: Company Overview - Baoyi Pharmaceutical has developed three core products: KJ017, a recombinant hyaluronidase for large-volume subcutaneous administration; KJ103, an IgG degrading enzyme with "best-in-class" potential for autoimmune diseases; and SJ02, a long-acting follicle-stimulating hormone for assisted reproduction [1][5]. - These products are in various stages of commercialization, new drug application registration, or late-stage clinical trials in China, signaling a transition from pure research to commercialization for Baoyi Pharmaceutical [1][5]. Group 2: Financial Outlook - According to a report from Xiniu Securities, Baoyi Pharmaceutical has established a clear commercialization model and timeline, with expectations that its products will start contributing significantly to revenue by 2026, primarily from KJ017 and SJ02 [1][5]. - KJ103, which is aimed at desensitization in kidney transplantation, is projected to begin generating revenue in 2027, while its applications for GBS and anti-GBM diseases will contribute at a later date [1][5].