HK Stock Market Move | BAO PHARMA-B (02659) rose nearly 5% against the market trend. The company's drug Shengnuowa was previously approved for listing and has now submitted KJ017 NDA.

BAO PHARMA-B (02659) rose by nearly 5% against the market trend. As of the press release, it has risen by 3.79% to HK$68.45, with a turnover of HK$183.776 million. On the news front, BAO PHARMA-B recently officially listed on the main board of the Hong Kong Stock Exchange, with a first-day closing gain of 138.82%, and the total market value has now exceeded HK$20 billion. According to Baoji Pharmaceutical's prospectus, the company strategically focuses on four main areas: large capacity subcutaneous drug administration, antibody-mediated autoimmune diseases, assisted reproduction, and recombinant biopharmaceuticals. The company's pipeline mainly includes 12 independently developed investigational products, including three core products (KJ017, KJ103, and SJ02 (Shengnuowa)), four other clinical stage candidate drugs (BJ007, KJ015, SJ04, and KJ101), and five preclinical assets (BJ008, BJ009, BJ045, BJ047, and BJ044). In "The New 18A of 'Self-Blood Making', BAO PHARMA-B (02659) Creates Sustainable Growth Model with 'Three Carriages'," it pointed out that under the synergy of "scenario-driven" strategic choices, synthetic biology technological barriers, and "total cost leadership" industrial advantages, Baoji Pharmaceutical has formed its unique "pyramid" pipeline layout. As the foundation of cash flow, the "pyramid" pipeline base of Baoji Pharmaceutical is composed of products with short clinical cycles, low costs, and high market demand certainty, such as the already approved SJ02 and the NDA-submitted KJ017. These products, focusing on solving clear clinical scenario pain points and technological substitutions, can quickly generate stable sales and cash flow, providing the company with the ability of "self-blood making" and effectively eliminating the "financing anxiety" commonly faced by 18A companies.