ASCENTAGE

Ascentage Pharma fell sharply in the afternoon session, closing down 5.05% at HK$35.32, matching an intraday low, as the market reacted to its plan to set up a US$200 million at-the-market (ATM) offering on Nasdaq via an SEC shelf filing, raising dilution concerns. Despite positive news flow, including updated clinical data from EHA2026 and ASCO 2026 for olverembatinib and lisaftoclax, and Q4 2025 revenue surging 126.79% YoY to HK$189 million, net loss widened to HK$363 million with EPS of -HK$0.978. The stock now trades below both its 20-day (HK$35.872) and 60-day (HK$37.21) moving averages, down 63% from its 52-week high of HK$95.35 and 30.61% YTD. Morgan Stanley, however, reiterated an 'Overweight' rating, lowering its target price to 89 yuan (from 89 yuan, the original did not specify a change).

Ascentage Pharma opened at HK$36.40 before tumbling to an intraday low of HK$34.52, eventually closing at HK$35.30, down 2.92% for the morning session. The decline was driven by the announcement of a US$200 million Nasdaq ATM offering program, raising concerns over near-term dilution. Despite positive clinical data for olverembatinib and lisaftoclax presented at EHA2026 and ASCO 2026, and Q4 2025 revenue surging 126.79% YoY to HK$189.3 million, the net loss widened 19.9% YoY to HK$362.5 million, with a net profit margin of -191.53%. The stock at HK$35.30 remains 62.98% below its 52-week high of HK$95.35 and below the 60-day MA of HK$37.67, though it has edged above the 20-day MA of HK$35.02, suggesting a tentative short-term floor.

Ascentage Pharma opened the morning session at 39.78 HKD and quickly dropped to 37.36 HKD within 10 minutes, a 5.0% decline from the previous close of 39.34 HKD. The selloff was driven by light volume (591,200 shares, turnover rate 0.16%), indicating limited supply but weak demand. Recent news flow includes multiple clinical data presentations at EHA2026, ASCO2026, and AACR2026 covering olverembatinib, lisaftoclax (APG-2575), and alrizomadlin (APG-115), yet these have not sparked price momentum. At 37.36 HKD, the stock is 60.82% below its 52-week high of 95.35 HKD, above its 20-day MA (34.728 HKD) but below the 60-day MA (38.183 HKD), showing a medium-term resistance. YTD decline stands at 26.6%, with a P/B of 9.52x and a negative P/E, reflecting ongoing losses. Morgan Stanley previously lowered the target price to 89 HKD? (data missing), while CICC maintains a Buy rating, signaling mixed institutional views.

Ascentage Pharma Group opened low in the morning session but surged rapidly, with the closing price at HKD 38.60, representing a 5.01% gain from the previous close of HKD 36.76. The rally was primarily driven by market optimism over clinical data for olverembatinib and lisaftoclax presented at the EHA2026 and ASCO 2026 congresses, while the recent grant of RSUs to 453 employees also signaled internal confidence. Financially, Q4 2025 operating revenue surged 126.79% YoY to HKD 189.28 million, but net loss widened to HKD 362.52 million, with EPS of -HKD 0.978. The stock hit an intraday high of HKD 38.60, reflecting a significant move from the opening of HKD 36.22, though it remains below its 52-week high. The PB ratio stands at 9.83x, typical for a high-growth biotech, while the PE ratio remains negative. However, the net profit margin stayed deeply negative, underscoring the company's ongoing investment phase before reaching profitability.

Ascentage Pharma Group opened sharply lower by 4.99% in the morning session, quickly dropping to an intraday low of HKD 35.500 before closing at HKD 35.520, down 5.02% with an intraday range of 3.14%. The opening decline was likely driven by a series of recent correction announcements regarding equity incentive plans, which adjusted the AGM dates for 2021/2022 RSU awards and post-IPO option grants from May 19, 2025 to 2026, raising uncertainty over potential equity dilution. Despite positive academic developments—including broad leukemia data for Olverembatinib and Lisaftoclax (APG-2575) at EHA2026, and the first dataset on MDM2-p53 inhibitor Alrizomadlin (APG-115) in pediatric solid tumors at ASCO 2026—persistent earnings losses pressured valuation: Q4 2025 net loss widened 19.9% YoY to HKD 362.5 million, even as revenue surged 126.79% YoY to HKD 189.3 million, with net profit margin still at -191.53%. The stock is now 62.75% below its 52-week high of HKD 95.35, trading above its 20-day MA of HKD 33.849 but below the 60-day MA of HKD 38.863, with a YTD decline of 30.22%. Morgan Stanley maintained an Overweight rating with a target price of HKD 89, however, which may provide medium-term support.