HK Stock Market Move | HBM HOLDINGS-B(02142) rose by over 7% again, recently reaching a $1 billion overseas cooperation agreement and announcing a HK$40 million share buyback plan at the beginning of the month.

HBM HOLDINGS-B (02142) rose more than 7%, hitting a high of 3.06 Hong Kong dollars, the highest since February 2023. The stock price has nearly doubled in the past month. As of the filing, it rose 7.04%, to 3.04 Hong Kong dollars, with a trading volume of 7.5789 million Hong Kong dollars. On the news front, HBM Pharmaceuticals recently announced a exclusive licensing agreement with Windward Bio for the global exclusive license of the monoclonal antibody HBM9378/SKB378, jointly developed by HBM Pharmaceuticals and Corontabio, as the licensing party, to develop anti-thymus stromal lymphopoietin (TSLP) in the Greater China region and certain countries in Southeast Asia and West Asia production, development, use, promotion, sales, sales commitments, imports, and other commercialization methods. The licensing party is entitled to receive up to a total of 970 million US dollars in upfront and milestone payments, as well as single-digit to double-digit percentage of net sales as tiered royalty fees. In addition, HBM Pharmaceuticals announced earlier this month that the company has decided to exercise the repurchase authorization and repurchase shares on the open market from time to time based on market conditions using up to 40 million Hong Kong dollars to repurchase proposed shares. In addition, the company may further repurchase within the authorized range based on market conditions. The board of directors unanimously believes that the current market trading price of the company's stock significantly undervalues the company's intrinsic value and business prospects.