Major Developments - Inhibrx announced positive results from the Phase II clinical trial of ozekibart for treating sarcoma, with plans to submit a Biologics License Application (BLA) by 2026 [1] - Junsheng Pharmaceutical-B completed Phase III clinical research for the innovative anti-inflammatory metabolic regulator HTD1801, demonstrating sustained benefits and safety over 52 weeks for type 2 diabetes [1] - China Railway Construction plans to invest 11 billion yuan to acquire stakes in several subsidiaries, including approximately 18.38% in China Railway 11th Bureau and 14.36% in China Railway Construction [1] - Ruifeng New Energy plans to deploy around 340,000 improved clean stoves in Laos, expecting a total carbon dioxide equivalent reduction of approximately 2.7 million tons over ten years [1] - Tanmu Carpenter is shifting its strategy from single product sales to a comprehensive output of cultural communication and brand value in Beijing [1] - China Tongru's breakthrough in key raw material technology for breath diagnostics positions it as a leader in the complete industrial chain of breath testing products [1] - Empire Technology Group signed a memorandum of understanding with Guanghe Xingyun to collaborate on developing AI comic dramas that reflect esports IP spirit [1] Financial Performance - AIA Group reported a 25% year-on-year increase in new business value for Q3, reaching 1.476 billion USD, with double-digit growth in 11 markets [1] - Eagle Precision achieved approximately 1.361 billion HKD in revenue for Q3, marking a 16.8% year-on-year growth [1] - Chery Automobile reported a profit attributable to shareholders of 14.365 billion yuan for the first three quarters, up 28.01% year-on-year [1] - Dongfeng Group recorded a net loss attributable to shareholders of approximately 1.882 billion yuan for Q3, a year-on-year increase of about 2.68 times [1] - Bohai Bank reported a net profit of 4.988 billion yuan for the first three quarters, an increase of 4.66% year-on-year [1] - Zhejiang Huhangyong reported a profit attributable to shareholders of 4.19 billion yuan for Q3, reflecting a 1.5% year-on-year growth [1] - BYD's sales of new energy vehicles reached approximately 3.7019 million units in the first ten months, representing a year-on-year growth of 13.88% [1]

Core Insights - The biotech sector is experiencing significant momentum, with many clinical-stage and commercial biopharma stocks reaching new 52-week highs due to breakthrough trial data, strategic deals, and earnings surprises [1] Company Summaries - **Metsera Inc. (MTSR)**: A clinical-stage biopharmaceutical company focused on developing hormone analog peptides for obesity and related metabolic diseases. Recently, Novo Nordisk made a $9 billion unsolicited acquisition proposal, which Metsera's board considers superior to its existing agreement with Pfizer [2][3]. Metsera announced positive Phase 2b results for its GLP-1 receptor agonist MET-097i, showing up to 14.1% weight loss after 28 weeks, supporting Phase 3 initiation in late 2025 [4]. The stock rose from $32.35 to a 52-week high of $66.10, a gain of 104.3% [5]. - **Indivior Plc (INDV)**: Develops buprenorphine-based therapies for opioid dependence. The company reported Q3 net income of $42 million, up from $22 million a year ago, with adjusted earnings of $93 million, exceeding Wall Street's expectations [6][7]. The stock increased from $20.86 to a 52-week high of $30.55, reflecting a 46.5% gain [7]. - **Insmed Inc. (INSM)**: Focused on therapies for serious and rare diseases, Insmed reported a Q3 net loss of $370 million but saw net product revenue rise to $142.3 million from $93.4 million last year [8][9]. The company raised its full-year 2025 revenue guidance for ARIKAYCE to $420 million - $430 million, indicating 15% - 18% growth year-over-year [10]. The stock surged from $76.54 to a 52-week high of $194.70, marking a 154.4% gain [10]. - **Ventyx Biosciences Inc. (VTYX)**: A clinical-stage biotech company developing therapies for autoimmune and neurodegenerative diseases. Ventyx reported positive Phase 2 results for its NLRP3 inhibitor VTX3232, showing strong safety and tolerability [11][13]. The stock rose from $3.01 to a 52-week high of $8.52, a gain of over 183% [14]. - **Inhibrx Biosciences Inc. (INBX)**: Focuses on oncology and rare diseases, announcing positive topline results from its ChonDRAgon study for ozekibart in chondrosarcoma [15]. The stock increased from $18.35 to a 52-week high of $83.78, representing a gain of 356.6% [16]. - **ABIVAX Société Anonyme (ABVX)**: Developing therapies for chronic inflammatory diseases, ABIVAX presented positive Phase 3 data for obefazimod in ulcerative colitis [17]. The stock rose from $7.83 to an all-time high of $106.73, marking a significant gain of 1263% [18]. - **Arrowhead Pharmaceuticals Inc. (ARWR)**: Developing RNAi-based therapies, Arrowhead finalized a licensing agreement with Novartis for ARO-SNCA, with financial terms including a $200 million upfront payment [19][20][21]. The stock increased from $29.70 to a 52-week high of $43.33, representing a gain of over 45% [21]. - **Kodiak Sciences Inc. (KOD)**: Focused on retinal diseases, Kodiak announced positive Phase 1b data for KSI-101, showing significant vision improvements [22][23][24]. The stock climbed from $8.98 to a 52-week high of $21.17, delivering a 135.7% gain [22]. - **Arcutis Biotherapeutics Inc. (ARQT)**: Focused on dermatological treatments, Arcutis reported Q3 net income of $7.4 million, a turnaround from a net loss last year, with revenue up 122% year-over-year [25][26]. The stock rose from $14.99 to a 52-week high of $27.08, representing a gain of over 80% [27]. - **Maze Therapeutics Inc. (MAZE)**: Developing precision therapies for various diseases, Maze announced positive Phase 1 results for MZE782 and secured $150 million in a private placement [28][29]. The stock rose from $11.21 to a new 52-week high of $34.29, returning a gain of 206% [29]. - **Supernus Pharmaceuticals Inc. (SUPN)**: Focused on CNS disorders, Supernus is expected to report Q3 earnings of $0.82 per share and revenue of $180.22 million [30][31]. The stock increased from $38.21 to a 52-week high of $57.65, representing a gain of over 50% [31].

Core Viewpoint - Chuangsheng Group-B (06628) experienced a significant stock price increase following positive clinical trial results for its partner Inhibrx Biosciences, Inc.'s (INBX.US) DR5-targeting antibody, ozekibart, in treating advanced or metastatic, unresectable sarcoma patients [1] Company Summary - Chuangsheng Group's stock rose nearly 10% during trading, closing up 4.75% at HKD 3.09, with a trading volume of HKD 4.006 million [1] - The company holds exclusive development and commercialization rights for ozekibart in China, Hong Kong, Macau, and Taiwan [1] Industry Summary - Inhibrx Biosciences announced positive primary results from a registrational clinical study evaluating the efficacy of ozekibart compared to placebo in patients with advanced or metastatic, unresectable soft tissue sarcoma [1] - Inhibrx plans to submit a marketing application for ozekibart for soft tissue sarcoma indications to U.S. regulatory authorities by the end of June 2026 [1]

Core Viewpoint - Chuangsheng Group-B (06628) experienced a significant stock price increase following positive clinical trial results for its partner Inhibrx Biosciences, Inc.'s drug ozekibart, which is aimed at treating advanced or metastatic, unresectable soft tissue sarcoma [1] Group 1: Stock Performance - Chuangsheng Group-B's stock rose nearly 10% during trading, closing up 4.75% at HKD 3.09, with a trading volume of HKD 4.006 million [1] Group 2: Clinical Research Results - Inhibrx Biosciences, Inc. announced positive primary results from a registrational clinical study of ozekibart, a DR5 agonistic antibody, comparing its efficacy against a placebo in patients with advanced or metastatic, unresectable soft tissue sarcoma [1] - Based on these results, Inhibrx plans to submit a marketing application for the soft tissue sarcoma indication to U.S. regulatory authorities by the end of June 2026 [1] Group 3: Development Rights - Chuangsheng Group holds exclusive development and commercialization rights for ozekibart in China, Hong Kong, Macau, and Taiwan [1]

Core Viewpoint - Chuangsheng Group-B (06628) experienced a significant intraday increase of nearly 10%, currently up 4.75% at HKD 3.09, with a trading volume of HKD 4.006 million [1] Group 1: Company Developments - Chuangsheng Group announced that its partner Inhibrx Biosciences, Inc. (INBX.US) reported positive primary results from the registration clinical study of the DR5 agonistic antibody ozekibart [1] - The study evaluated the efficacy of ozekibart as a monotherapy compared to a placebo in patients with advanced or metastatic, unresectable chondrosarcoma [1] - Based on these results, Inhibrx plans to submit a marketing application for the chondrosarcoma indication to U.S. regulatory authorities by the end of June 2026 [1] Group 2: Market Position - Chuangsheng Group holds exclusive development and commercialization rights for ozekibart in China, Hong Kong, Macau, and Taiwan [1]

Market Overview - U.S. stocks experienced a significant rally, with major indices reaching all-time highs, driven by a softer-than-expected inflation reading that bolstered expectations for a 25 basis point interest rate cut by the Federal Reserve at its upcoming meeting on October 30 [1][4] Inflation Data - The annual headline inflation for September 2025 was reported at 3%, a slight increase from August's 2.9% but below the anticipated 3.1%. Core inflation, excluding food and energy, decreased from 3.1% to 3% year-over-year, indicating a cooler inflation environment [2] Company Performance - Ford Motor Co. emerged as the top-performing large-cap stock, surging 12% following the release of stronger-than-expected third-quarter earnings, marking its best session since 2022 [2] - In the small-cap sector, Inhibrx Biosciences Inc. saw a remarkable 102% increase in stock price after announcing positive trial results for its cancer drug ozekibart [3] Sector Performance - Most sectors within the S&P 500 closed positively, with information technology, communication services, and utilities showing the largest gains. Conversely, energy and materials sectors underperformed, closing lower [3] Index Readings - The CNN Money Fear and Greed Index recorded a reading of 33.1, remaining in the "Fear" zone, which indicates a slight increase from the previous reading of 28.6. This index reflects current market sentiment, with higher fear typically exerting downward pressure on stock prices [5]

Market Overview - U.S. stocks experienced a significant rally, with major indices reaching all-time highs, driven by a softer-than-expected inflation reading that bolstered expectations for a 25 basis point interest rate cut by the Federal Reserve at its upcoming meeting on October 30 [1][4] Inflation Data - The annual headline inflation for September 2025 was reported at 3%, a slight increase from August's 2.9% but below the anticipated 3.1%. Core inflation, excluding food and energy, decreased from 3.1% to 3% year-over-year, indicating a cooler inflation environment [2] Company Performance - Ford Motor Co. emerged as the top-performing large-cap stock, surging 12% following the release of stronger-than-expected third-quarter earnings, marking its best session since 2022 [2] - In the small-cap sector, Inhibrx Biosciences Inc. saw a remarkable 102% increase in stock price after announcing positive trial results for its cancer drug ozekibart [3] Sector Performance - Most sectors within the S&P 500 closed positively, with information technology, communication services, and utilities showing the largest gains. Conversely, energy and materials sectors underperformed, closing lower [3] Index Readings - The CNN Money Fear and Greed Index recorded a reading of 33.1, remaining in the "Fear" zone, which indicates a slight increase from the previous reading of 28.6. This index reflects current market sentiment, with higher fear typically exerting downward pressure on stock prices [5]