HBM HOLDINGS-B

HBM Holdings opened higher and maintained upward momentum in the morning session, closing at HK$12.95, up 5.1%, driven by a positive profit alert forecasting the seventh consecutive profitable half-year for its 2026 interim results, underpinned by pharma partnership income. Recent catalysts include China IND approval for asthma therapy SKB575/HBM7575 in collaboration with Kelun-Biotech and first patient dosing in the Phase 2 SIRIUS COPD study of HBM9378, bolstering pipeline confidence. The company posted 2025 annual revenue growth of ~294% YoY and a net profit surge of over 13x, with a net margin of 34.6%. At HK$12.98, the stock trades 27.8% below its 52-week high of HK$17.98 but has reclaimed both the 20-day (HK$11.60) and 60-day (HK$11.61) moving averages, though daily volume of 251,000 shares remains thin.

HBM Holdings-B opened higher in the morning session and climbed to close at HK$12.56, up 5.02% from the previous close of HK$11.96, making a new intraday high; the day's low was HK$11.96, matching the opening price. The primary catalyst was the China NMPA's IND approval for SKB575/HBM7575, an asthma therapy co-developed with Kelun-Biotech, announced earlier this week, following the previous IND clearance for atopic dermatitis. Its strong FY2025 performance also underpinned the move: revenue surged 2.9x YoY to HK$220.4 million, net profit skyrocketed 13.5x to HK$76.3 million, and net profit margin reached 34.6%. The stock remains 30% below its 52-week high of HK$17.98, but has reclaimed both its 20-day (HK$11.34) and 60-day (HK$11.65) moving averages, with a YTD gain of 4%. However, trading volume was modest at 717,000 shares, with turnover of HK$8.73 million.

Harbour BioMed (2142.HK) opened lower and continued to decline, reaching an intraday low of HKD 11.21 in the afternoon session before recovering to close at HKD 11.64, down approximately 5.8% from the morning session's opening price of HKD 12.36, forming a 'decline then recovery' pattern. The drop was driven by profit-taking following the positive news of China IND approval for the asthma therapy SKB575/HBM7575 developed with Kelun-Biotech (news id:292890846), alongside market caution regarding the company's recent string of scientific advisor appointments. Financially, FY2025 net profit surged over 13 times YoY to approximately HKD 76.3 million, with revenue tripling, reflecting strong fundamental improvement. However, the stock remains 35.4% below its 52-week high of HKD 17.98 and trades below its 60-day moving average (HKD 11.76) but above the 20-day MA (HKD 11.13), suggesting near-term support but mid-term weakness. The recent USD 20.2 million patent lawsuit victory against Amgen (news id:289640289) provides a financial buffer for future R&D.

Harbour BioMed rallied steadily in the morning session, closing up 5.12% at HKD 12.33, boosted by a USD 20.19 million patent infringement verdict against Amgen, NMPA IND approval for HBM7004, first patient dosing in the Phase 2 SIRIUS COPD study for HBM9378, and two new scientific advisor appointments. The stock trades at a PE of ~15x and PB of ~3.75x, with FY2025 net profit surging over 13x YoY and revenue nearly 3x YoY. It has now breached both its 20-day (HKD 10.988) and 60-day (HKD 11.848) moving averages, yet remains 31.42% below its 52-week high of HKD 17.98. However, session volume was only 960,000 shares (turnover rate 0.11%), indicating muted follow-through buying.

Harbour BioMed surged in the morning session, reaching HKD 11.84 by 10:04 BJ time, up 5.24% from previous close. The rally was driven by recent favorable patent verdict awarding USD 20.2 million in damages (id:289640289), NMPA's IND acceptance for HBM7004 (id:289275448), and first patient dosing in Phase 2 COPD study for HBM9378 (id:289191793). Financially, Q4 2025 revenue surged 294.23% YoY to HKD 220.4 million, with net profit soaring 1351.36% YoY and net profit margin at 34.62%. Despite strong fundamentals, the stock's price remains below its 52-week high, suggesting cautious optimism.