Core Viewpoint - 基石药业-B's stock price surged over 25% following the release of its interim financial results, despite reporting a significant decline in revenue and an increase in R&D expenses [1] Financial Performance - The company reported revenue of RMB 49.451 million, a year-on-year decrease of 80.54% [1] - R&D expenses amounted to RMB 105 million, reflecting a year-on-year increase of 58.75% [1] - The net loss for the period was RMB 270 million [1] - As of June 30, the company had cash and cash equivalents totaling RMB 652.8 million [1] - The net proceeds from a placement completed in July 2025 were approximately RMB 425.79 million [1] Strategic Developments - The company is adjusting the price of its drug, Pralsetinib, in preparation for negotiations regarding inclusion in the national medical insurance drug list [1] - If included, the sales growth from Pralsetinib in 2026 and beyond is expected to offset the short-term negative impact on revenue [1] - The company is expanding its strategic focus into non-oncology areas, disclosing new dual antibodies for autoimmune and inflammatory diseases, CS2013 (BAFF/APRIL) and CS2015 (OX40L/TSLP) [1] - Plans are in place to initiate the clinical trial application (IND) preparation for these new drugs in the second half of 2025 [1]

Core Viewpoint - The stock of Basilea Pharmaceutica (02616) saw a significant increase of over 25% in late trading, with a current rise of 24.43% to HKD 9.27, and a trading volume of HKD 612 million [1] Financial Performance - The company reported a revenue of RMB 49.451 million, representing a year-on-year decrease of 80.54% [1] - Research and development expenses amounted to RMB 105 million, an increase of 58.75% year-on-year [1] - The net loss for the period was RMB 270 million [1] - As of June 30, the company had cash and cash equivalents plus time deposits totaling RMB 652.8 million [1] Fundraising and Financial Strategy - The company completed a placement in July 2025, raising a net amount of approximately RMB 425.79 million [1] Product and Market Strategy - The company is preparing for negotiations regarding the inclusion of its drug, Pralsetinib, in the national medical insurance drug list, which may lead to a price adjustment [1] - If Pralsetinib is included in the national medical insurance list, the expected sales growth from 2026 onwards is anticipated to offset the short-term negative impact on revenue [1] - The company is expanding its strategic focus into non-oncology areas, revealing new dual antibodies for autoimmune and inflammatory diseases, CS2013 (BAFF/APRIL) and CS2015 (OX40L/TSLP), with plans to initiate new drug clinical trial application preparations in the second half of 2025 [1]