HK Stock Market Move | HENLIUS (02696) surged more than 9% during trading, it is rumored that the company is in negotiations with Johnson & Johnson and Roche regarding the authorization of HLX43.

HENLIUS (02696) rose more than 9% intraday, as of the time of writing, it increased by 3.89% to 82.75 Hong Kong dollars, with a turnover of 1.14 billion Hong Kong dollars. On the news front, it was reported recently that HENLIUS is in negotiations with multinational pharmaceutical companies such as Johnson & Johnson and Roche to sell the rights related to the PD-L1 antibody-drug conjugate HLX43. According to the report, under the agreement, HENLIUS may receive at least several hundred million dollars in upfront payment, and will also receive milestone payments based on the performance of the drug. The negotiations are still ongoing, and as more data on HLX43 is released, HENLIUS may request a higher price. It is worth noting that Morgan Stanley recently released a research report, upgrading the ratings of both the A-shares and H-shares of Shanghai Fosun Pharmaceutical to "neutral," with a target price of 42 yuan for the A-shares and 33 Hong Kong dollars for the H-shares. Morgan Stanley valued HENLIUS, a subsidiary of Shanghai Fosun Pharmaceutical, at 72 billion yuan (current market value is about 44 billion yuan), which is equivalent to 143-145 Hong Kong dollars per share, with 73% of the valuation coming from the global potential of its core candidate drugs - HLX43 (PD-L1 ADC), HLX22 (HER2 mAb) and serplulimab (PD-1).