Hong Kong Stock Market News | Sinopharm Biotech Surges Over 7% to Reach a 4-Month High, Marsdutinide Peptide is the Fastest Domestic GLP1 Dual-target Drug in Development.
Sinopharm Group's stock rose more than 7%, reaching a four-month high of HKD 41.1. As of the time of writing, it has increased by 7.46% to HKD 41.05, with a trading volume of HKD 377 million.
According to the latest update from the Zhitong Finance APP, Xinda Biotechnology (01801) has surged over 7%, reaching a new four-month high of HKD 41.1. As of the time of writing, the stock has risen by 7.46% to HKD 41.05, with a trading volume of HKD 377 million.
A recent research report from Dongwu Securities pointed out that with the increasing number of obese people and the growing awareness of weight management and health, the demand for weight loss products will continue to rise. The market share of Novo Nordisk's GLP-1 class drugs in the international market (based on revenue) is steadily increasing. Xinda Biotechnology's Masidupeptide (GLP1/GCGR) is the domestically developed GLP1 dual-target drug with the fastest progress, excellent weight loss effect, and obvious first-mover advantage. Xinda Biotechnology is worth paying attention to.
Xinda Biotechnology previously announced that it will raise approximately HKD 2.357 billion through a rights issue to accelerate multiple clinical research and development programs and product commercialization. Approximately 30% (approximately HKD 707 million) of the funds raised will be used for the development, marketing, and commercialization of IBI362 (Masidupeptide), a GLP-1R/GCGR dual agonist for the treatment of diabetes and obesity and a potential best candidate drug in the clinical stage.
