TRANSCENTA-B

Transcenta staged a recovery after morning weakness, hitting an intraday low of HKD 1.17 before rebounding to close at HKD 1.29, up 2.4% from yesterday's close of HKD 1.26. The rebound was driven by positive clinical data for Ozekibart, which targets a rare cancer treatment gap, and strengthened market confidence following Inhibrx's data supporting an FDA filing. Despite a 26.3% YoY decline in Q4 revenue to HKD 2.63 million, net loss narrowed 37.3% with EPS improving from -HKD 0.206 to -HKD 0.124. The stock remains 77.8% below its 52-week high of HKD 5.80 and trades below both the 20-day MA (HKD 1.35) and 60-day MA (HKD 1.92), with a YTD decline of 42.7%. However, recent share placements raising approximately HKD 59.34 million and grants of 451,500 employee share awards have alleviated liquidity concerns.