HK Stock Market Move | DUALITYBIO-B (09606) surged over 6% in the afternoon, with the total scale of BD cooperative transactions exceeding $7 billion. The company is exploring a shift to joint development in the U.S.

DUALITYBIO-B (09606) surged over 6% in the afternoon. As of the time of writing, it has risen by 5.74%, trading at HKD 186.1, with a transaction volume of HKD 143 million. Huachuang Securities released a research report stating that Yingen has reached cooperation/disclosure agreements worth over USD 7 billion with seven global pharmaceutical companies and innovative drug companies for six molecules and the DUPAC innovative payload platform. Currently, it has only received approximately USD 550 million in upfront and milestone payments, with over USD 6.5 billion in unconfirmed milestone revenues and low double-digit to high single-digit sales royalties expected to provide a solid foundation for continuous cash flow in the future. In addition, Yingen has chosen to exercise the most certain B7-H3ADC, and will fully share the development costs of DB-1311/BNT324 in the U.S. market with BioNTech, as well as share the profits and losses post-commercialization. Compared to the single-digit to low double-digit sales royalties in typical BD transactions, this is expected to further realize the commercial value in the U.S. market. The report pointed out that the companys product pipeline is gradually moving towards the later stages, with 2027 being the year of commercialization.