mRNA 平台开发稳步推进，可逆 BTK 膜性肾病数据优异；上调目标价 | 买入 | | | | --- | --- | --- | | 1 | 年股价表现 | | | 250% | 1952 HK | 恒生指数 | | 200% | | | | 150% | | | | 100% | | | | 50% | | | | 0% -50% | | | 股份资料 交银国际研究 公司更新 | 医药 | 收盘价 | 目标价 | 潜在涨幅 | 2025 年 7 月 2 日 | | --- | --- | --- | --- | --- | | 62.20 | 港元 | 港元 72.50↑ | +16.6% | | | 云顶新耀 (1952 HK) | | | | | | 52周高位 (港元) | 65.15 | | --- | --- | | 52周低位 (港元) | 18.28 | | 市值 (百万港元) | 20,198.83 | | 日均成交量 (百万) | 13.36 | | 年初至今变化 (%) | 28.51 | | 200天平均价 (港元) | 47.94 | | 资料来源 : FactSet | | 丁 ...

Core Viewpoint - CICC maintains the profit forecast for CloudTop New Horizon (01952) for 2025 and 2026, adjusting the target price by 14.3% to HKD 80.0, indicating a potential upside of 28.6% from the current stock price [1] Company Status - On June 27, CloudTop New Horizon held an mRNA innovation technology platform R&D day, showcasing three core product lines: the universal on-demand therapeutic vaccine EVM14, the personalized therapeutic vaccine EVM16, and the autologous CAR-T project. The company has established extensive contacts with global top 20 pharmaceutical companies, focusing on leveraging international partnerships to promote the global layout of innovative drugs [2] Complete mRNA R&D and Production Platform - The company has successfully built a comprehensive mRNA platform covering antigen design, algorithm optimization, LNP delivery systems, CMC process development, and GMP industrial production. Key patents include: 1) self-developed third-generation AI algorithm optimization, significantly enhancing target protein expression; 2) proprietary LNP delivery platform with over 500 internal lipid types, capable of liver and extrahepatic delivery, supporting both "passive" and "active" targeting strategies; 3) two major bases in Zhangjiang and Jiashan ensuring process development and industrial production [3] Project Progress - EVM16: Utilizes the company's self-developed EVER-NEO-01 "MiaoSuan" AI algorithm system to identify patient-specific tumor cell mutations and design mRNA vaccines encoding dozens of new tumor antigens. Preclinical data indicates good safety and strong immunogenicity, with IIT research completing the first patient dosing in March this year [4] - EVM14: A universal on-demand therapeutic bivalent vaccine targeting five tumor-related antigens, intended for squamous cell carcinoma, including non-small cell lung cancer and head and neck cancer. Preclinical data shows EVM14 can induce a strong immune response and can be combined with IO drugs to enhance anti-tumor activity, with FDA approval for clinical trials obtained in March [4] - Autologous CAR-T: Developed based on the proprietary LNP (tLNP) system, demonstrating efficient T cell transfection, CAR expression, and B cell clearance effects in monkey models [4]

每经记者｜许立波 每经编辑｜董兴生 6月30日，云顶新耀（HK01952，股价62.2港元，市值203亿港元）股价上涨8.74%，近7个交易日累计上涨28.6%。 在近日举行的mRNA创新技术平台研发日活动上，云顶新耀展示了mRNA（信使核糖核酸）技术平台和自身免疫疾病领域的三款产品，分别是通用型现货肿 瘤治疗性疫苗EVM14、个性化肿瘤治疗性疫苗EVM16，以及自体生成CAR-T（嵌合抗原受体T细胞免疫疗法）项目。 "我们已与全球Top 20药企广泛建立接洽，BD（商务拓展）策略聚焦通过国际伙伴资源推动创新药全球布局。"云顶新耀首席执行官罗永庆表示，公司在BD 方面"有选择权"，能够等待一个好的时间点以追求最大的回报。 据云顶新耀透露，EVM14全球多中心I期临床试验（EVM14 C101）即将启动，预计于2025年第三季度完成首例患者入组。云顶新耀嘉善工厂已于今年6月9 日顺利放行首批GMP临床试验样品，预计将于8月中旬运抵美国各临床研究中心。 mRNA平台已成国际药企关注焦点 云顶新耀曾是mRNA新冠疫苗大军中的一员。2021年9月，云顶新耀与Providence签订许可协议，引进了mRNA新冠疫苗，但 ...