MICOT PHARMA-B

After a cluster of updates — including multiple drug development announcements, completion of treatment and follow-up for all MT1013 Phase III participants, ethics approval and RMB960,000 in government funding for MT200605, and an H-share buyback mandate — Micot Pharma (2335.HK) surged in the morning to an intraday high of HK$25.16 but reversed in the afternoon to close at HK$20.68, down 4.6% from the previous close of HK$21.68. The stock opened at HK$21.70, rose from HK$21.80 in the morning session to HK$24.80 by 11:59 BJ time, then hit a session low of HK$19.55 at 15:19 BJ time, producing a 25.9% intraday range on 10.59 million shares and HK$240.3 million turnover. The close was 17.8% below the day's high, effectively erasing the morning gain. Latest financial and valuation data were unavailable, so the HK$20.68 close can only be positioned near the lower end of the day's HK$19.55–HK$25.16 range. Though turnover of HK$240.3 million points to clear disagreement between buyers and sellers, the next move still depends on how those announcements translate into execution.

Micot Pharma-B rose 1.78% to HK$21.70, rebounding from a low open of HK$20.80, as news that all participants had completed treatment and follow-up in the MT1013 Phase III trial drove an intraday surge of as much as 12% to HK$23.92 before the stock retreated into the close; the intraday range ran from HK$20.62 to HK$23.92, leaving the close below the afternoon peak but above the session low. The company also received RMB960,000 in government funding for MT200605 research and disclosed an H-share buyback mandate, but Q2 2026 net loss widened 397.61% year on year to HK$133.3 million, EPS was -HK$0.5089, operating loss reached HK$92.8 million and revenue was not disclosed, tempering the advance. At HK$21.70 the stock is 41.19% lower YTD, 51.82% below its 52-week high of HK$45.04 and 100.93% above its 52-week low of HK$10.80; it sits above MA20 of HK$17.08 but just below MA60 of HK$21.82, with market value around HK$7.20 billion, PB 6.61 and turnover rate 4.07%. Though the Phase III completion is a milestone, the timing of registration and commercialization remains to be seen.

Micot Pharma-B reversed early strength, opening at the 23.32 HKD session high before sliding one-way to a 21.20 HKD afternoon low and closing at 21.30 HKD, roughly 7.9% below the prior close of 23.12 HKD on 87.98 million HKD turnover, as investors booked profits on a two-day run of about 18% (including single-day gains of 12% and 6%) driven by news that all participants had completed treatment and follow-up in the MT1013 Phase III trial. At 21.22 HKD the shares still hold above the 20-day average of 16.80 HKD but have lost the 60-day line at 21.99 HKD, sit 52.9% below the 52-week high of 45.04 HKD, are down 42.5% year-to-date yet remain 96.5% above the 1 November low of 10.80 HKD, while a PB of 6.47 and negative PE of -16.78 reflect a still loss-making profile. Though a RMB 960,000 government grant for MT200605 research and an H-share buyback mandate remain in the background.

Micot Pharma-B spiked to HK$25.52 in the morning session after the company said all enrolled participants had completed treatment and follow-up in the MT1013 Phase III trial, but the stock gave back the entire gain to close at the day's low of HK$23.02, down 5.73% from HK$24.42 on 7.90 million shares worth HK$191.7 million, a clear spike-and-fade pattern. The move extends a run driven earlier by ethics approval from the lead site for the MT200605 Phase III trial and a RMB960,000 first tranche from the National Key S&T Program, which contrasts with a Q2 2026 net loss of HK$133.3 million, 397.61% wider year on year, EPS of -HK$0.5089 and ROE of -48.83%. At HK$23.02 the shares sit above the MA20 of HK$16.69 and the MA60 of HK$22.14, yet remain 37.62% lower year to date and 48.89% below the July 15 52-week high of HK$45.04. Though the rebound from the November 1 low of HK$10.80 has already more than doubled, leaving room for short-term profit-taking.

2335.HK opened at HK$18.59 and advanced in a one-way afternoon run to a latest HK$24.40, up about 29.7% from the prior close of HK$18.81, after the company said all enrolled participants completed treatment and follow-up in the Phase III trial of MT1013; the stock bottomed at HK$18.53 at 09:33 and peaked at HK$24.32 at 15:53, with HK$273 million of turnover and a 4.88% turnover rate. This week's ethics approval from the lead site for the MT200605 Phase III trial and a first RMB 960,000 tranche from a national science programme added further catalysts. Despite the move, the price sits 45.83% below its 52-week high of HK$45.04 set on 15 July and is down 33.88% year to date, though it now stands above both MA20 of HK$16.61 and MA60 of HK$22.24, with market value back at HK$8.09 billion. The company still records no revenue, posted a Q2 net loss of HK$133.3 million (yoy -397.61%) and trades at 7.44x PB, so support rests on trial progress rather than earnings.