Core Viewpoint - Moderna's candidate vaccine mRNA-1647 for congenital cytomegalovirus (CMV) has failed to meet primary efficacy endpoints in Phase III clinical trials, leading the company to terminate its development [1]. Group 1: Clinical Trial Results - The Phase III trial involved approximately 7,500 women aged 16-40 from around 300 research centers across 13 countries [1]. - The vaccine demonstrated an efficacy rate for primary CMV infection of only 6% to 23%, significantly below the company's target [1]. Group 2: Market Reaction - Following the announcement, Moderna's stock price dropped over 4%, trading at $25.77 in pre-market [1]. - The closing price before the announcement was $26.85, reflecting a decline of $1.08 or 4.02% in pre-market trading [2].

Group 1 - Haoyoubo signed a framework agreement with Roche Diagnostics for the procurement of chemiluminescent antibody detection products, which will enhance brand recognition and market share in China, although the agreement does not specify financial details and is not expected to significantly impact the company's performance this year [1] - Chengda Bio established a strategic cooperation with the Institute of Microbiology, Chinese Academy of Sciences, focusing on emerging infectious diseases and vector-borne disease prevention, which is expected to accelerate vaccine and biopharmaceutical development [2][2] - Shengxiang Bio plans to invest 20 million yuan in a new fund aimed at supporting innovative healthcare startups, aligning with the company's strategic development and investment direction [3] Group 2 - Guoyao Co. reported a net profit of approximately 1.492 billion yuan for the first three quarters of 2025, with revenue of about 39.381 billion yuan, reflecting a slight year-on-year increase despite intensified competition in the pharmaceutical industry [4] - Puluo Pharmaceutical announced a net profit of around 700 million yuan for the first three quarters of 2025, with revenue of approximately 7.764 billion yuan, indicating a year-on-year decline due to pressures in the formulation and raw material drug sectors, although the company anticipates a gradual recovery next year [5]

Core Viewpoint - Kanghua Biotech (300841.SZ) demonstrates resilience and growth potential with a 11.54% year-on-year revenue increase in Q3 2025, achieving revenue of 356 million yuan and a net profit of 189 million yuan for the first three quarters [1] Group 1: Financial Performance - In Q3 2025, Kanghua Biotech reported revenue of 356 million yuan, marking an 11.54% increase compared to the same period last year [1] - For the first three quarters, the company achieved total revenue of 840 million yuan and a net profit attributable to shareholders of 189 million yuan [1] - The decline in net profit for the first three quarters narrowed by 9.23 percentage points compared to the semi-annual report, indicating improved operational quality [1] Group 2: Product Development and Market Potential - The freeze-dried human rabies vaccine (human diploid cells) is a key product for Kanghua Biotech, recognized as the "gold standard" by WHO due to its safety and efficacy [2] - The company is expanding production capacity for the rabies vaccine, with the production expansion project nearing completion and awaiting drug production license approval [2] - Kanghua Biotech's six-valent norovirus vaccine, licensed to HilleVax for $270.5 million, showcases the company's strong technical capabilities and market potential [2] Group 3: Industry Context and Future Prospects - Norovirus is a major cause of acute gastroenteritis globally, with no vaccines currently available, presenting a significant market opportunity as the norovirus vaccine market in China is projected to grow from 1.53 billion yuan to 22.93 billion yuan from 2026 to 2031, with a CAGR of 71.85% [3] - The six-valent norovirus vaccine has received clinical research approval in Australia and the U.S., with plans for clinical trials in China starting in December 2024 [4] Group 4: Strategic Developments - The transition of control to a state-owned investment fund from Shanghai is expected to provide Kanghua Biotech with not only capital but also a robust industrial resource network and strategic development platform [5][6] - The investment from the Shanghai biopharmaceutical fund highlights Kanghua Biotech's long-term intrinsic value amid the industry's adjustment phase [5] - The company aims to accelerate the diversification of its vaccine product line, potentially becoming a key platform for the Shanghai pharmaceutical industry in the vaccine sector [7]

Core Viewpoint - Clover Biopharmaceuticals-B (02197) announced positive preliminary data from two ongoing clinical trials based on its proprietary and fully validated Trimer-Tag vaccine development platform, evaluating the company's PreF respiratory combination vaccine candidates (RSV+hMPV±PIV3) [1] Group 1: Clinical Trials - An ongoing Phase I clinical trial in Australia is assessing the combination vaccine candidates SCB-1022 (RSV+hMPV) and SCB-1033 (RSV+hMPV+PIV3) against SCB-1019 (Clover's RSV candidate vaccine) in a head-to-head comparison, targeting elderly individuals who have not previously received any RSV vaccine [1] - A Phase I clinical trial in the United States is conducting a head-to-head evaluation of SCB-1019 (Clover's RSV candidate vaccine) against AREXVY (GSK's RSV vaccine) in elderly individuals who have received at least two seasonal doses of AREXVY prior to enrollment [1]

本公告由三葉草生物製藥有限公司（「本公司」或「三葉草生物」，連同其附屬公司統稱「本集團」）董事 （「董事」）會（「董事會」）自願作出，以知會本公司股東及潛在投資者本集團最新的業務發展狀況。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容所產生或因依賴該等內容而引致的任何損 失承擔任何責任。 自願公告 三葉草生物公佈其呼吸道聯合疫苗(RSV-hMPV-PIV3) 及 RSV 疫苗重複接種在老年人群的 I 期臨床試驗均獲得積極數據 本公司欣然宣佈兩項正在進行的臨床試驗的積極初步數據，基於公司自研獨有已获全面驗證的 Trimer-Tag （ 白質三聚體化）疫苗研發平台 ，於於估公公司的 PreF 呼吸道聯合疫苗候選產品（RSV+hMPV±PIV3），包括： 呼吸道聯合疫苗候選產品 RSV+hMPV±PIV3 I 期臨床試驗(澳大利亞)：完整初步數據 在澳大利亞進行的一項 I 期臨床試驗中，老年人群受試者（60-85 歲）入組後被隨機分配接種 SCB-1022 （RSV+hMPV）、SCB-1033 （RSV+ ...

Core Viewpoint - 百克生物 has received approval for its trivalent influenza virus split vaccine (BK-01 adjuvant) from the National Medical Products Administration, which is expected to enhance immune response in the elderly population, marking a significant step in flu prevention for this vulnerable group [1][2]. Group 1: Vaccine Development - The trivalent influenza virus split vaccine (BK-01 adjuvant) is specifically designed for individuals aged 60 and above, aiming to stimulate a stronger immune response compared to traditional vaccines [2]. - The company has developed a product matrix for adjuvanted influenza vaccines, including both trivalent and quadrivalent options, with the quadrivalent vaccine already receiving clinical trial approval [1][2]. - The World Health Organization has recommended the removal of the B/Yamagata strain from the Northern Hemisphere flu vaccine components, highlighting the importance of the trivalent vaccine in flu epidemic control [1]. Group 2: Impact on Company - If the trivalent vaccine successfully completes clinical trials and receives market approval, it will enhance the company's vaccine development pipeline and provide new vaccination options for the elderly, thereby expanding its market reach [2]. - The company reported a significant increase in R&D investment, amounting to 98.2 million yuan, which represents 34.47% of its revenue, compared to 85.5 million yuan and 13.83% in the same period last year [4]. - The company is focusing on a diverse pipeline of 13 vaccine products and 3 monoclonal antibodies for infectious disease prevention, with strategies including upgrades, filling domestic gaps, and technological breakthroughs [4].

Core Viewpoint - The Phase I clinical trial of LZ901 vaccine conducted in the United States has been successfully completed, demonstrating good safety and immunogenicity in both high-dose and low-dose groups compared to the placebo group, laying the foundation for subsequent clinical research [1] Group 1: Clinical Trial Results - The Phase I clinical trial primarily aimed to verify the safety of the vaccine, with only the low-dose group showing mild adverse reactions related to the vaccine at a rate of 4.35%, while no adverse reactions were reported in the high-dose and placebo groups [1] - Both high-dose and low-dose groups of the LZ901 vaccine exhibited good safety and immunogenicity compared to the placebo group [1] Group 2: Product Development - LZ901 is a self-developed recombinant shingles vaccine by the company, targeting the prevention of shingles and related complications in adults aged 40 and above [1] - The Phase III clinical trial of LZ901 in China has met its clinical preset goals and achieved expected clinical results [1] - As of the announcement date, the biological product license application for LZ901 has been accepted by the National Medical Products Administration of China and is currently under evaluation [1]

Group 1 - The core product LZ901 is a recombinant vaccine developed by the company to prevent shingles and related complications in adults aged 40 and above [2] - The Phase I clinical trial of LZ901 in the United States was successfully completed in September 2025, demonstrating good safety and immunogenicity in both high-dose and low-dose groups compared to the placebo group [1] - The Phase I clinical trial began in February 2023, involving 66 healthy participants aged 50 to 70, and was designed as a randomized, double-blind, placebo-controlled, and dose-escalation study [1] Group 2 - The primary objective of the Phase I clinical trial was to verify the vaccine's safety, with only the low-dose group showing mild adverse reactions (4.35%), while no adverse reactions were reported in the high-dose and placebo groups [1] - LZ901 has achieved its clinical preset goals in the Phase III clinical trial in China and has received acceptance for its biological product license application from the National Medical Products Administration of China, which is currently under evaluation [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不會就因本公告全部或任何部分內容而產生或因 依賴該等內容而引致的任何損失承擔任何責任。 Beijing Luzhu Biotechnology Co., Ltd. 北京綠竹生物技術股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2480） 香港聯合交易所有限公司證券上市規則第18A.05條規定的警示聲明：本公司無法 保證LZ901最終將成功開發及營銷。本公司股東及有意投資者於買賣本公司股份 時務請審慎行事。 關於於美國進行的I期臨床試驗 於美國進行的LZ901的I期臨床試驗於2023年2月開始，為一項隨機、雙盲、安慰 劑對照及劑量遞增研究，旨在評估LZ901在50至70歲健康受試者中的安全性及耐 受性。於美國進行的LZ901的I期臨床試驗合共招募66名受試者。 根據於美國進行的LZ901的I期臨床試驗結果，LZ901疫苗高劑量組和低劑量組較 安慰劑組而言，均表現出良好的安全性和免疫原性。本次臨床試驗主要研究目標 為驗證疫苗的安全性，其中僅LZ901疫苗低劑量組出現與 ...

Group 1 - The core point of the article is that Kang Le Wei Zhi (康乐卫士) has experienced a significant decline in its stock price since its listing on the Beijing Stock Exchange, indicating a lack of investor confidence [1] - The stock was listed on March 15, 2023, with an initial price of 42.00 yuan, but it opened lower on the first day and closed at 35.52 yuan, reflecting a drop of 15.43% [1] - As of October 9, 2023, the stock price is reported at 12.27 yuan, with a further decline of 5.54%, indicating ongoing challenges for the company [1] Group 2 - Kang Le Wei Zhi issued a total of 7,000,000 shares, with an option for an additional 8,050,000 shares if the over-allotment option is fully exercised [1] - The total funds raised before the exercise of the over-allotment option amounted to 29,400,000 yuan, with a net amount of 26,662,410 yuan after deducting issuance costs of 2,737,590 yuan [1] - The company planned to raise 30,000,000 yuan for HPV vaccine research and a construction repurchase project for its Kunming production base [1] Group 3 - The total issuance costs for Kang Le Wei Zhi were 2,737,590 yuan before the exercise of the over-allotment option, and 3,008,020 yuan if the option was fully exercised [2] - The underwriting fees for the lead underwriters, CITIC Securities and Guosen Securities, were 1,902,830 yuan before the over-allotment option and 2,173,250 yuan if the option was fully exercised [2] Group 4 - On May 17, 2023, Kang Le Wei Zhi announced a dividend plan, proposing a stock bonus of 10 shares for every 10 shares held, with the ex-dividend date set for May 26, 2023 [3]