HK Stock Market Move | REMEGEN (09995) rose nearly 4% as institutions pointed out that the company's cooperation with AbbVie is expected to promote the research and development of RC148 and its global commercialization expansion.

REMEGEN (09995) rose nearly 4%, and as of the time of publication, it rose 2.96% to 92.3 Hong Kong dollars, with a trading volume of 2.06 billion Hong Kong dollars. UBS released a research report stating that they have a positive view on the cooperation between REMEGEN and AbbVie Group. This collaboration grants overseas rights for RC148 (PD-1/VEGF) and includes an initial payment of 650 million US dollars, milestone payments of up to 4.95 billion US dollars, and double-digit tiered royalties on net sales outside Greater China. The bank believes that as a multinational pharmaceutical company, AbbVie should be able to promote the global expansion of RC148 in terms of research and commercialization and have a positive outlook on REMEGEN's differentiated development strategy for RC148. They believe that the initial payment will help to reverse REMEGEN's net debt situation and anticipate that the approval of multiple new drugs in the future will allow the company to achieve a sustainable break-even point starting from 2026. The bank has upgraded REMEGEN's rating from "Neutral" to "Buy" and raised the target price from 63.8 Hong Kong dollars to 120 Hong Kong dollars.