撰文丨王聪 编辑丨王多鱼 排版丨水成文 个性化新抗原疫苗已展现出巨大潜力，然而，其免疫原性仍有待提高。 2025 年 7 月 10 日，丹纳·法伯癌症研究所的研究人员在国际顶尖学术期刊 Cell 上发表了题为 ： A multi-adjuvant personal neoantigen vaccine generates potent immunity in melanoma 的研究论文。 该研究开发的 多佐剂个性化 新抗原疫苗 ，在 黑色素瘤 患者中激发了强效免疫。 由于抗原的可获得性以及有效的 T 细胞启动对于实现最大免疫原性至关重要，研究团队在 10 名 黑色素瘤 患者中测试了一种合成长肽疫苗 ，该疫苗采用两种佐 剂 Montanide、聚肌 胞 （poly-ICLC） 配制，并联合局部注射伊匹木单抗 （ Ipilimumab，抗 CTLA4单抗 ） 以及全身使用纳武单抗 （ Nivolumab，抗 PD-1 单抗 ） 。 在所有 9 名完成疫苗接种的黑色素瘤患者中，这些 个性化疫苗诱导了针对大多数免疫新 表位的新生 ex vivo T 细胞响应，并且在 9 名患者中有 6 名产生了 ex vivo C ...

趋势方向 主力成本分析 21.78 百克生物688276 时间: 2025年7月11日星期五 60.55分综合得分 较强 元 当日主力成本 21.40 元 5日主力成本 20.99 元 20日主力成本 20.94 元 60日主力成本 周期内涨跌停 过去一年内该股 | 持股量111.83万股 | 占流通比0.27% | | --- | --- | | 昨日净买入-55.20万股 | 昨日增仓比-0.133% | | 5日增仓比-0.196% | 20日增仓比0.037% | 技术面分析 21.58 短期压力位 涨停 0次 跌停 0 次 北向资金数据 21.05 短期支撑位 21.58 中期压力位 20.37 中期支撑位 股价突破短期压力位，短线有望走强； 股价突破中期压力位，中线有望走强 K线形态 暂无特殊形态 资金流数据 2025年07月11日的资金流向数据方面 | 主力资金净流出55.92万元 | | --- | | 占总成交额-1% | | 超大单净流入70.95万元 | | 大单净流出126.87万元 | | 散户资金净流入177.46万 | 关联行业/概念板块 生物制品 1.53%、病毒防治 0.59 ...

流动性方面，生物疫苗ETF盘中换手1.9%，成交489.22万元。拉长时间看，截至7月10日，生物疫苗ETF近1周日均成交1087.57万元。 规模方面，生物疫苗ETF近2周规模增长878.44万元，实现显著增长，新增规模位居可比基金第一。 截至7月10日，生物疫苗ETF近1年净值上涨22.89%。从收益能力看，截至2025年7月10日，生物疫苗ETF自成立以来，最高单月回报为26.27%，最长连涨月 数为3个月，最长连涨涨幅为14.87%，上涨月份平均收益率为6.41%。 截至2025年7月11日午间收盘，中证疫苗与生物技术指数强势上涨1.35%，成分股康华生物上涨12.02%，特宝生物上涨7.96%，康辰药业上涨7.69%，康弘药 业、诺诚健华等个股跟涨。生物疫苗ETF(562860)上涨1.32%。 值得注意的是，该基金跟踪的中证疫苗与生物技术指数估值处于历史低位，最新市净率PB为2.6倍，低于指数近3年88.03%以上的时间，估值性价比突出。 生物疫苗ETF紧密跟踪中证疫苗与生物技术指数，中证疫苗与生物技术指数选取不超过50家业务涉及疫苗研发、疫苗生产、疫苗耗材、疫苗生产设备以及其 他生物科技领域上市 ...

近日，已在2000年宣布消除麻疹的美国出现了麻疹感染人数激增的情况。今年以来，美国多个州监测到 麻疹感染患者，美国约翰·霍普金斯大学疫情应对创新中心最新数据显示，2025年已报告麻疹确诊病例 1284例，而此前美国年平均病例数量约180例。 麻疹是由麻疹病毒感染引起的急性呼吸道传染病。既然麻疹25年前已在美国消除，为什么会卷土重来？ 麻疹传染性极强，公众又该如何预防？7月10日，科技日报记者带着上述问题采访了北京佑安医院呼吸 与感染性疾病科主任医师李侗曾、北京市朝阳区疾病预防控制中心计划免疫科主任医师白云骅。 官宣"消除"，为何还会再起疫情？ "一种疾病的发病率如果被控制到极低后，我们通常会认为该种疾病已经被'消除'。"白云骅解释，但消 除不是消灭。部分发达国家达到过麻疹的"消除"阶段，此时仍有极低水平的麻疹病毒感染和疾病传播， 如果未能巩固免疫屏障，病毒感染还是会出现。 这种"死灰复燃"还与麻疹病毒的特性相关。在没有免疫屏障的环境中，麻疹病毒极易在人与人之间传 播，目前学界一般认为其基本传染数（R0）达到18，即平均每名麻疹患者可造成18名易感人群感染。 李侗曾告诉记者，麻疹传染性非常强，没有获得麻疹免疫力 ...

智通财经APP获悉，美国监管机构批准了Moderna(MRNA.US)的新冠疫苗用于儿童接种，但适用范围比 以前有所缩小。这延续了Robert F. Kennedy Jr.备受争议的政策立场，导致儿童获得疫苗的机会受到限 制。 虽然年长的美国人更有可能接种新冠疫苗，但公共卫生专家担心，限制疫苗接种可能会对2岁以下的儿 童造成危险，因为这些儿童比年龄较大的儿童更容易感染病毒。 随着疫情消退，大多数家长忽视了疫苗接种建议。根据美国疾病控制与预防中心的数据，上个季度只有 13%的儿童接种了新冠疫苗。这一比例仅为成年人接种率的一半。 儿童仍然面临严重风险。根据美国疾病控制与预防中心的数据，截至2024年8月的一年中，有超过150名 18岁以下儿童死于新冠肺炎。感染新冠会增加儿童患2型糖尿病的风险，研究人员估计，约有600万美国 儿童可能长期感染新冠病毒。 截至发稿，Moderna盘初涨超3%。 自新冠疫情暴发以来，Moderna和辉瑞生产的儿童剂量新冠疫苗已紧急提供给所有年龄段的儿童，即使 这些儿童并非高危人群。作为美国卫生与公众服务部负责人，Kennedy一直对给儿童接种新冠疫苗持批 评态度。 在Kennedy的领 ...

Core Viewpoint - The approval and launch of the domestic nine-valent HPV vaccine "Xinkening®9" marks a significant milestone for China's biopharmaceutical industry, breaking the global monopoly of high-priced imported HPV vaccines and establishing China as the second country after the United States capable of independently supplying such vaccines [2][9]. Group 1: Vaccine Development and Approval - The nine-valent HPV vaccine was developed through a collaboration between Xiamen University, Xiang'an Innovation Laboratory, and Wantai Biological Pharmacy, taking 18 years from inception to approval [2]. - The vaccine covers nine HPV types (6, 11, 16, 18, 31, 33, 45, 52, 58) and utilizes an innovative E. coli expression platform, which has reduced production costs and validated safety and efficacy through key clinical trials [2][3]. Group 2: Clinical Trials and Efficacy - Since 2019, five clinical trials have been conducted across China, enrolling over 11,000 healthy volunteers aged 9 to 45, providing robust research data [2]. - The vaccine shows comparable protection rates against HPV16/18-related lesions to imported vaccines and over 98% protection against persistent infections from other high-risk types [3]. Group 3: Market Position and Pricing - The pricing of "Xinkening®9" is set at 499 yuan per dose, approximately 40% of the price of imported vaccines, which were previously monopolized by Merck & Co. at around 1300 yuan per dose [3][9]. - The vaccine has received WHO PQ certification and has gained market access in over 20 countries, being included in immunization programs in four countries, thus positioning it as a "Chinese solution" in global public health [3][9]. Group 4: Industry Context and Future Outlook - The global market for HPV vaccines is projected to grow at an annual rate of 8%, potentially reaching nearly $10 billion by 2027, driven by the increasing inclusion of vaccines in national immunization programs [8]. - The successful launch of "Xinkening®9" exemplifies China's capability in biopharmaceutical innovation and is expected to enhance the competitiveness of Chinese companies in the international market while contributing to global cervical cancer prevention efforts [9].

Core Viewpoint - The introduction of the domestic nine-valent HPV vaccine "Xinkening®9" at a price of 499 yuan per dose intensifies competition in the HPV vaccine market, prompting a potential price war among manufacturers [1][8]. Market Expansion - The global coverage rate for the first dose of the HPV vaccine among girls is projected to reach 27% by 2024, while the coverage rate for women aged 9 to 45 in China is only 10.15%, showing significant room for growth compared to the global average and the 67% coverage in Western countries [5][6]. Market Challenges - Expanding market space is a major challenge for all companies involved in HPV vaccine development. Companies are actively seeking to open up the market, with the approval of new indications for the "Jiadaxiu9" vaccine, which is now the first and only nine-valent HPV vaccine approved for both males and females in China [7][8]. Competitive Landscape - Domestic HPV vaccine manufacturers are shifting focus to price competition after missing the first-mover advantage. However, raising public awareness and vaccination rates is seen as a more effective strategy than price cuts [9][10]. Vaccine Efficacy Evidence - Real-world studies have shown significant reductions in HPV infection rates and cervical cancer cases due to vaccination, with a Scottish study indicating a 90% decrease in HPV infections since the vaccine's introduction in 2008 [11][12]. Conclusion - The competition in the HPV vaccine market is expected to evolve, with data on vaccine efficacy becoming a crucial factor in establishing trust and market presence for new entrants [12].

Core Insights - The first domestically produced nine-valent HPV vaccine "Xinkening 9" by Wantai Biological has been priced at 499 yuan per dose, approximately 40% of the price of imported counterparts [1] - The vaccine was developed in collaboration with Xiamen University and has undergone 18 years of research, with an investment of around 1 billion yuan by 2025 [1] - The approval of "Xinkening 9" marks a significant milestone in the domestic HPV vaccine market, previously dominated by Merck's "Gardasil 9" [1][2] Pricing and Market Impact - The full vaccination cost for the imported vaccine is nearly 4000 yuan, while the domestic vaccine reduces this to about 1500 yuan, and for ages 9-17, the cost is only 998 yuan for two doses [1] - The approval of "Xinkening 9" is expected to enhance HPV vaccination rates in China, which currently stands at 27.43% for the first dose among women aged 9-45, compared to 67% in Western countries [3] Marketing and Distribution Strategy - The company plans to implement a new marketing strategy that combines regional grid management, digital management, and personalized services to cater to different demographics and healthcare resources [3] - Wantai Biological is actively pursuing WHO PQ certification for the nine-valent HPV vaccine and aims to expedite its international market entry based on its previous successes with its bivalent HPV vaccine [3] Financial Performance - Wantai Biological reported a revenue of 2.245 billion yuan for 2024, a decline of 59.25% year-on-year, with a net profit of 106 million yuan, down 91.49%, marking a five-year low [5] - In the first quarter of 2025, the company reported a net loss of 52.78 million yuan, a significant drop from a profit of 126 million yuan in the same period the previous year [5] Competitive Landscape - The nine-valent HPV vaccine market is becoming increasingly competitive, with several domestic companies like Watson Bio, Kangla Weishi, and Ruike Bio also preparing to launch their products [4]

Core Viewpoint - The launch of the domestic nine-valent HPV vaccine "Xinkening 9" by Wantai Biological Pharmacy at a price of 499 yuan per dose, significantly lower than the imported vaccine priced at approximately 1318 yuan, ignites a price war in the HPV vaccine market [1][3][5] Pricing Strategy - Wantai's pricing strategy directly addresses market pain points, offering a two-dose regimen for females aged 9-17 at a total cost of 998 yuan and a three-dose regimen for those aged 18-45 at 1497 yuan, representing a price reduction of about 60% compared to imported options [3][4] - The imported nine-valent HPV vaccine from Merck costs around 1318 yuan per dose, with total costs for two doses for ages 9-14 reaching approximately 2636 yuan and three doses for ages 15-45 amounting to 3954 yuan [3][5] Market Potential - A study from the Chinese Center for Disease Control and Prevention indicates that the HPV vaccine first-dose coverage rate among women aged 9-45 in China is only 27.43%, compared to about 67% in Western countries, suggesting significant room for growth in vaccine penetration [3][4] - Wantai emphasizes that its vaccine is the only one approved for a "two-dose regimen" for ages 9-17, which could enhance vaccination compliance among younger populations [3][4] Competitive Landscape - The HPV vaccine market has shifted from scarcity and high prices to increased supply and competitive pricing, with Wantai's low-cost strategy posing a challenge to both imported products and other domestic competitors like Kanglaisheng, Ruike Biological, and Shanghai Bowei, which are also in the process of launching their nine-valent vaccines [5][6] - Merck's HPV vaccine sales have also seen a decline, with the company announcing a suspension of supply to China starting February 2025 [5][6] Future Growth Opportunities - Domestic vaccine companies, including Wantai, are exploring international markets, particularly in countries with lower HPV vaccination rates, to leverage their cost advantages [6] - The ongoing research into male-targeted HPV vaccines presents another potential growth avenue for the industry [6] - The price competition in the HPV vaccine market is expected to advance cervical cancer prevention efforts, making vaccines more accessible as multiple products enter the market [6]

Core Viewpoint - WanTai Biologics has officially launched its nine-valent HPV vaccine "Xinkening®9" at a price of 499 yuan per dose, significantly undercutting the imported vaccine price and marking the end of the "high-price era" for HPV vaccines in China [1][6]. Pricing and Market Impact - The imported nine-valent HPV vaccine "Gardasil 9" is priced at approximately 1318 yuan per dose, with a total cost of nearly 4000 yuan for three doses, while "Xinkening®9" costs about 1497 yuan for three doses [1]. - "Xinkening®9" is the only HPV vaccine approved for a two-dose regimen for ages 9-17, reducing the cost for this age group to 998 yuan, thereby enhancing accessibility and compliance [1]. Historical Context and Market Dynamics - Prior to the launch of "Xinkening®9", the nine-valent HPV vaccine market in China was monopolized by Merck's "Gardasil 9," which faced a dramatic shift from high demand and scarcity to excess inventory [2]. - In 2023, the batch issuance of "Gardasil 9" reached 36.55 million doses, a year-on-year increase of 136.16%, making Merck the highest-grossing multinational pharmaceutical company in China that year [2]. Sales Performance and Challenges - Merck's global sales of the HPV vaccine in 2024 were $8.583 billion, a 3% decline year-on-year, primarily due to weak performance in the Chinese market [3]. - To address high inventory levels, Merck announced a suspension of supply to China starting in early 2025, expected to last until at least mid-2025 [3]. Financial Performance of WanTai Biologics - WanTai Biologics reported a 59.25% year-on-year decline in revenue for 2024, totaling 2.245 billion yuan, with a net profit drop of 91.49% to 106 million yuan [3]. - The company faced significant challenges due to a price collapse in its two-valent vaccine, leading to a drastic reduction in government procurement prices [3]. Market Potential and Future Outlook - The potential market for HPV vaccines in China is substantial, with 70%-80% of the 300 million women aged 9-45 yet to be vaccinated [4]. - National Investment Securities predicts that WanTai's nine-valent HPV vaccine could reach a sales peak of 22.8 billion yuan, with projected revenues of 3.17 billion yuan, 11.4 billion yuan, and 28.63 billion yuan for 2025-2027 [4]. Competitive Landscape - Several domestic pharmaceutical companies are in the late clinical stages of developing their own nine-valent HPV vaccines, creating a competitive environment for WanTai [5]. - WanTai has initiated a Phase III clinical trial for a male indication, but competitors like Kanglaite have already started their trials earlier [5]. International Expansion - WanTai aims to become a leading global vaccine supplier by 2030, with plans to have 3 to 5 WHO pre-qualified products [5]. - Competitors are also pursuing international markets, with Kanglaite planning to submit for approval in Indonesia and Ruike Biologics exploring the Middle East [5]. Industry Trends - The World Health Organization has warned that global HPV vaccine supply may exceed demand from 2025 to 2030, potentially leading to a price war and industry reshuffling [5]. - The WHO's recommendation for a single-dose HPV vaccination regimen could further intensify market competition [5].