Core Viewpoint - The stock of Pagoda Biopharmaceuticals-B (02565.HK) opened over 7% higher on November 27, closing at HKD 70.00 per share, an increase of 7.03% due to the announcement of an extended lock-up period by cornerstone investor Yizhe Kangrui Pharmaceutical (Hong Kong) Co., Ltd. [2] Group 1: Lock-up Period Extension - Yizhe Kangrui has agreed not to reduce its holdings of H-shares from the original lock-up expiration date until December 31, 2025, extending the lock-up period by 35 days [3] - The extension reflects Yizhe Kangrui's confidence in Pagoda Biopharmaceuticals' technological advancements and significant progress in major clinical milestones [2][3] - Yizhe Kangrui currently holds 9.5845 million H-shares, representing approximately 3.43% of the total issued H-shares of the company [3] Group 2: Company Background and Recent Developments - Pagoda Biopharmaceuticals, established in 2008, focuses on the research and development of innovative therapies for chronic diseases, particularly in the field of metabolic disorders [5] - The company recently received approval for its first product, PB-119 (Vepidna Injection), aimed at improving blood sugar control in adults with type 2 diabetes [6] - Since its listing, Pagoda Biopharmaceuticals has seen a stock price increase of 438.46% over 129 trading days from May 27 to the present [6] Group 3: Financial Performance and Market Outlook - Pagoda Biopharmaceuticals has reported losses of CNY 279 million, CNY 283 million, and CNY 93.62 million for the years 2023, 2024, and the first half of 2025, respectively [6] - A recent report from Softbank China has given Pagoda Biopharmaceuticals a strong buy rating with a target price of HKD 101.80, citing the clinical advantages of PB-119 and potential revenue growth from 2026 to 2029 [6]