Understanding the Market | Canoea-B Soars Over 6% Again, CM310 Has Submitted an IPO Application, Company Embraces a New Commercialization Cycle

Zhitong
2024.04.23 03:27
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Kanoya-B's stock price rose by over 6% to HKD 30.95, with a turnover of HKD 8.9888 million. The company owns a 70% stake in its non-wholly-owned subsidiary KYM and has reached a global exclusive licensing agreement with AstraZeneca to jointly develop and commercialize the product CMG901 (AZD0901). The company's core product CM310 has submitted an application for listing, with its treatment areas continuously expanding. CM310 is the fastest domestically developed IL-4Rα monoclonal antibody, having completed Phase III clinical trials for adult atopic dermatitis (AD). In addition, Phase III clinical studies for adolescent AD and seasonal allergic rhinitis have also been initiated for CM310. Furthermore, CMG901 (Claudin18.2-ADC) has made breakthroughs in the treatment of gastric cancer and gastroesophageal junction adenocarcinoma (G/GEJ). Kanoya-B's products demonstrate significant commercial potential

According to the Wise Finance APP, Kangnuoya-B (02162) rose by over 6% again, with a 6.17% increase as of the time of publication, reaching HKD 30.95 with a turnover of HKD 8.9888 million.

On the news front, Kangnuoya-B announced that its 70% equity-owned non-wholly-owned subsidiary KYM has entered into a global exclusive license agreement with the biopharmaceutical company AstraZeneca (AZN.US) in February to develop and commercialize the company's pipeline product CMG901 (AZD0901). As of now, AstraZeneca has conducted multiple clinical studies on CMG901 (AZD0901) for the treatment of advanced solid tumors.

Changjiang Securities released a research report stating that the company's core product CM310 has submitted an application for listing, continuously expanding the indications and opening up the growth ceiling. CM310 is the domestically developed IL-4Rα monoclonal antibody with the fastest progress, and the Phase III clinical trial for the treatment of moderate to severe atopic dermatitis (AD) in adults in 2023 has been completed. In addition, in 2023, CM310 initiated Phase III clinical studies for moderate to severe AD in adolescents and seasonal allergic rhinitis in China, with the potential to further expand the future market potential of the product.

The report further points out that the company's product CMG901 has read out PFS data, demonstrating the potential for late-line G/GEJ treatment. Previously, CMG901 (Claudin18.2-ADC) for the treatment of gastric cancer and gastroesophageal junction adenocarcinoma (G/GEJ) has been granted orphan drug status and fast-track qualification by the FDA, as well as breakthrough therapy designation by the CDE in China, revealing the product's value. AstraZeneca has conducted multiple international multicenter clinical studies on CMG901/AZD0901 for the treatment of advanced solid tumors, further enhancing the commercial potential of the product

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