Core Viewpoint - The company expects a reduction in net loss and adjusted net loss for the fiscal year ending December 31, 2025, primarily due to the commercialization of Zewokaiolun Injection and the acceptance of the NDA for Shurukiaolun Injection by the NMPA [1] Financial Performance - The net loss for the reporting period is projected to be no more than approximately RMB 120 million, compared to approximately RMB 798 million for the fiscal year ending December 31, 2024 [1] - The adjusted net loss, which excludes share-based compensation, is expected to be no more than approximately RMB 95 million, compared to approximately RMB 789 million for the fiscal year ending December 31, 2024 [1] Contributing Factors - The reduction in losses is attributed to several factors, including: - Increased commercialization revenue from Zewokaiolun Injection in mainland China [1] - Impact of foreign exchange fluctuations [1] - Significant reduction in R&D expenses for both Zewokaiolun Injection and Shurukiaolun Injection [1]

Core Viewpoint - The company Kintor Pharmaceutical (02171) anticipates a reduction in net loss and adjusted net loss for the fiscal year ending December 31, 2025, primarily due to the commercialization of its drug Zeworkiobulin and the acceptance of the new drug application for Shurikiobulin by the National Medical Products Administration (NMPA) [1] Financial Performance - The expected net loss for the reporting period is projected to be no more than approximately RMB 120 million, compared to approximately RMB 798 million for the fiscal year ending December 31, 2024 [1] - The adjusted net loss, which excludes share-based compensation, is expected to be no more than approximately RMB 95 million, compared to approximately RMB 789 million for the fiscal year ending December 31, 2024 [1] Factors Influencing Loss Reduction - The reduction in losses is attributed to several factors, including: - Increased commercialization revenue from Zeworkiobulin in mainland China [1] - Impact of foreign exchange fluctuations [1] - Significant reduction in research and development expenses for both Zeworkiobulin and Shurikiobulin [1]

Core Viewpoint - Kintor Pharmaceutical Co., Ltd. (02171.HK) expects a reduction in net loss and adjusted net loss for the fiscal year ending December 31, 2025, primarily due to the commercialization of its drug, Zeworkiobulin Injection, and the acceptance of the New Drug Application (NDA) for Shurikiobulin Injection by the National Medical Products Administration (NMPA) [1]. Financial Summary - The net loss for the fiscal year 2025 is projected to be no more than approximately RMB 120 million, a significant decrease from approximately RMB 798 million for the fiscal year ending December 31, 2024 [1]. - The adjusted net loss, which excludes share-based compensation, is expected to be no more than approximately RMB 95 million, down from approximately RMB 789 million for the fiscal year ending December 31, 2024 [1]. Contributing Factors - The reduction in losses is attributed to several factors, including: - Increased commercialization revenue from Zeworkiobulin Injection in mainland China [1]. - Impact of foreign exchange fluctuations [1]. - Significant reduction in research and development expenses for both Zeworkiobulin Injection and Shurikiobulin Injection [1].

每经AI快讯，九强生物1月26日晚间发布公告称，北京九强生物技术股份有限公司于近期收到美国专利 局颁发的1项专利证书。专利名称为"一种用于检测可溶性生长激素表达基因2蛋白的试剂盒"。 每日经济新闻 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每经头条（nbdtoutiao）——国际金价冲破5000美元！7年涨了280%，什么时候才见顶？专家：关键还 看美元，重点关注国际货币体系、降息和科技革命 （记者 曾健辉） ...

Core Viewpoint - CAR-T cell therapy, despite existing development bottlenecks, has shown excellent results and significant potential in tumor treatment, making it one of the fastest-growing segments in innovative drugs globally [1] Group 1: Industry Development and Challenges - CAR-T technology has demonstrated breakthrough therapeutic effects in hematological malignancies, but its industrialization faces challenges due to the small market size and high treatment costs associated with these indications [2] - Over 90% of new cancer cases globally in 2023 are expected to be solid tumors, indicating a vast potential market for CAR-T therapies if the technology can overcome the treatment bottlenecks for solid tumors [2] - Since 2020, more CAR-T solid tumor therapy projects have entered clinical research, with over 50% of the pipeline focusing on this area, making it a key competitive advantage for many Chinese innovative drug companies [2] Group 2: Company Strategy and Product Pipeline - The company has developed a pipeline that includes 4 autologous CAR-T and 6 universal CAR-T products, covering hematological malignancies, solid tumors, and autoimmune diseases [2] - The new drug application for CT041 (Shurike Aolun Sai Injection) has been accepted by the National Medical Products Administration of China, making it the first CAR-T cell product globally to enter the new drug application stage for solid tumors [2][3] Group 3: Cost and Accessibility - The high cost of CAR-T therapies, typically priced in the millions, poses a significant barrier to patient accessibility, necessitating solutions for affordability [5] - Universal CAR-T therapies, which can be produced in batches for multiple patients, have the potential to significantly reduce costs, with estimates showing a reduction in total material costs from $60,000 to $2,000 and production costs from $95,780 to $4,460 [5] - The company has developed innovative technologies to address the immune rejection of non-autologous cells, with patents granted in multiple regions, aiming for the first universal CAR-T product to be launched within five years [5] Group 4: Market Dynamics and Payment Solutions - The large patient base in China, especially as CAR-T therapies expand to solid tumors, presents a theoretical market space that is vast [7] - Since the approval of the first hematological CAR-T therapy, the company has received 154 valid orders across 23 provinces in 2024, indicating a growing commercial presence [7] - The introduction of the first version of the "Commercial Health Insurance Innovative Drug Directory" in 2025, which includes multiple CAR-T therapies, marks a breakthrough in addressing payment challenges and is expected to facilitate the commercial development of CAR-T therapies in China [7][8] Group 5: Policy Support and Industry Growth - The company has achieved a significant reduction in losses, with an adjusted net loss of approximately 75 million yuan in the first half of 2025, down 78.1% from the same period last year [10] - Policy support, particularly in expediting drug review and approval processes, is crucial for the successful development of the CAR-T industry in China [10] - Recent policies aimed at enhancing the review process for advanced therapies are expected to significantly shorten the R&D and commercialization cycles, improving cash flow for innovative drug companies [10][11]

Market Overview - The market experienced a downturn with the Shanghai Composite Index closing down 0.09%, the Shenzhen Component down 0.85%, and the ChiNext down 0.91% [1] - A total of 1,604 stocks rose while 3,771 stocks fell, indicating a broader market weakness [1] Precious Metals Sector - The precious metals sector saw significant gains, with gold prices surpassing $5,000 per ounce for the first time, and silver prices also rising sharply [2] - Notable stocks in this sector included Zhongjin Gold and Xibu Gold, which reached their daily limit [2] Pharmaceutical Sector - The pharmaceutical sector strengthened, with stocks like Cap Bio and Mike Bio hitting their daily limit due to concerns over a Nipah virus outbreak in India [2][4] - The outbreak has prompted increased monitoring in countries such as Thailand and Nepal [2] Oil and Gas Sector - Oil and gas stocks rallied, with Zhongman Petroleum hitting its daily limit and China National Offshore Oil Corporation (CNOOC) rising over 6% to reach a new high [5] Commercial Aerospace Sector - The commercial aerospace sector faced adjustments, with stocks like China Satellite and China Satcom hitting their daily limit [6] Large Sell Orders - Significant sell orders were noted in major stocks, with Zijin Mining seeing over 4.07 billion yuan in sell orders and China Ping An over 2.05 billion yuan [6] Market Sentiment and Policy - Analysts from CITIC Securities indicated that the current reduction in broad-based ETFs by institutional investors may be a strategy to realize profits rather than directly suppressing speculative trading [10] - The report suggests that increasing margin requirements or trading fees could be more effective in cooling market enthusiasm [10]

中国经济网北京1月26日讯 必贝特(688759.SH)近日发布2025年年度业绩预亏公告。 经财务部门初步测算，必贝特预计2025年年度实现归属于母公司所有者的净利润与上年同期（法定披露 数据）相比，将出现亏损，实现归属于母公司所有者的净利润为-16,600万元到-13,600万元；归属于母 公司所有者扣除非经常性损益后的净利润-18,800万元到-15,800万元。本次业绩预告情况未经注册会计 师审计。 2022年至2024年，必贝特均无营业收入，净利润/归属于普通股股东的净利润分别为-18,833.88万 元、-17,275.51万元、-5,599.83万元；扣除非经常性损益后归属于普通股股东的净利润分别为-20,749.04 万元、-18,776.76万元、-15,804.87万元；经营活动产生的现金流量净额分别为-12,766.89万 元、-12,737.30万元、-8,961.35万元。 必贝特于2025年10月28日在上交所科创板上市，发行股票数量9,000.0000万股，发行价格为17.78元/ 股，保荐机构（主承销商）为中信证券股份有限公司，保荐代表人为彭浏用、熊志兵，联席主承销商为 国信证 ...

【导读】压单又来了！ 中国基金报记者 泰勒 大家好，今天在一系列"降温"措施之下，市场震荡下跌，一起看看发生了什么事情。 1月26日，沪指全天横盘震荡，深成指、创业板指跌近1%。截至收盘， 沪指跌0.09%，深成 指跌0.85%，创业板指跌0.91%。 个股跌多涨少， 1604只个股上涨，77只个股涨停，3771只个股下跌。 | 880005 4 1 2 3 | | | | | | --- | --- | --- | --- | --- | | 草中 | 涨停 | | | | | 涨幅 | > 7% | | | 152 | | 涨幅 | 5-7% | 1 | | 100 | | 张幅 | 3-5% | | | 219 | | 涨幅 | 0-3% | | | 1133 | | 跌幅 | 0-3% | | | 2402 | | 跌幅 | 3-5% | | | 900 | | 跌幅 | 5-7% | | | 269 | | 跌幅 | > 7% | | | 200 | | 其中 跌停 | | | | 40 | | 上涨家数 下跌家数 | | | | 1604 | | | | | | 3771 | | | | | | ...

Group 1 - The Nipah virus outbreak has been reported in West Bengal, India, with 5 confirmed cases, including healthcare workers, and one patient in critical condition [2] - The local government is taking measures to contain the virus spread, including home isolation for nearly 100 individuals and testing bats in local zoos [2] - Thailand's Civil Aviation Authority announced comprehensive screening for flights from West Bengal starting January 26 to prevent the virus from entering Thailand [3] Group 2 - In the A-share market, stocks related to vaccines, influenza, and biotechnology surged, with companies like Maike Biological, Cap Bio, and others hitting a 20% limit up [4] - The Wind popular concept index shows significant increases in vaccine-related stocks, with a rise of 6.59% [5] - Investors are inquiring about listed companies with products related to the Nipah virus on platforms like Shenzhen Stock Exchange Interactive and Shanghai Stock Exchange Interactive [5] Group 3 - The World Health Organization describes the Nipah virus as a zoonotic virus that can be transmitted from infected animals to humans, with a mortality rate typically over 40% [8] - Symptoms of human infection include acute respiratory infections and potentially fatal encephalitis, with an incubation period ranging from 4 to 14 days, and up to 45 days in some cases [8]

Core Viewpoint - The announcement indicates that the subsidiary of the company, Shiyao Group Jushi Biopharmaceutical Co., Ltd., has received approval from the National Medical Products Administration for the clinical trial of SYS6090 injection, which will commence shortly [1] Group 1 - SYS6090 injection is a recombinant fully human anti-PD-1 fusion protein that incorporates IL-15, designed as an asymmetric structural bifunctional Fc [1] - The left arm of SYS6090 targets PD-1 positive tumor-infiltrating immune cells to block the immunosuppressive interaction between PD-1 and PD-L1 [1] - The right arm of SYS6090 binds to the IL-15 receptor, activating downstream signaling pathways to further promote the activation and proliferation of relevant immune cells [1]