TENNOR THERAP-B

TenNor Therapeutics-B opened lower and continued its decline, hitting an intraday high of HK$197.9 before closing at HK$186.4, down 5.05% from the previous close of HK$196.3, with further weakness in the afternoon session. The company reported a first-half FY26 net loss narrowed 17.81% to RMB 64.25 million, but operating loss widened approximately 47% YoY, highlighting rising R&D spending. The stock now trades below both its 20-day MA (HK$192.03) and 60-day MA (HK$205.005), down 35.05% from its 52-week high of HK$287, with a YTD decline of 11.66%. Despite the narrowed net loss, the magnitude of operating profit deterioration exceeded market expectations, triggering profit-taking after the stock's volatile post-IPO rally of nearly 100% from its 52-week low of HK$145. Turnover was a thin HK$6.24 million with a 0.07% turnover rate, reflecting subdued trading interest.

TenNor Therapeutics-B opened flat at HK$198.1 in Hong Kong's morning session before plunging, hitting an intraday low of HK$187.4, representing a 5.5% drop from the previous close. The stock traded at HK$187.4 at lunch, with a meager 300 shares changing hands, reflecting extremely thin liquidity. The price has retreated 34.7% from its 52-week high of HK$287 set on June 23, and now sits below the 60-day moving average of HK$205.3 but above the 20-day MA of HK$185.6, indicating near-term technical support. The stock has lost 4.48% over the past week amid fading sentiment, as investors await the upcoming interim results. The company remains loss-making, with a negative P/E of 57.8x and an elevated P/B of 57.6x, underscoring ongoing valuation concerns.

TenNor Therapeutics-B opened sharply lower and continued to weaken in early trading, falling 6.0% to HKD 180.5 by 09:32 BJ, hitting the intraday low, while the opening price of HKD 192.5 marked the intraday high, forming a clear one-way decline pattern. On the news front, the company announced after yesterday's close that it would convene a board meeting to review interim results, fueling market uncertainty about the upcoming financial data and prompting profit-taking. In terms of price positioning, the stock has broken below its MA20 (HKD 183.83) and is down 37.11% from its 52-week high of HKD 287.0, with a YTD decline of 14.45%, indicating near-term technical weakness. However, the stock remains 24.48% above its 52-week low of HKD 145.0, and the market potential of its novel Helicobacter pylori drug Rifasutenizole continues to provide support for some long-term investors.

丹诺医药-B（6872.HK）上午盘高开高走，收涨 5.44% 报 189.6 港元，因资金回流小盘生物科技且公司核心产品利福特尼唑（TNP-2198）和利福喹酮（TNP-2092）临床进展预期受关注。盘中最低触及开盘价 180.0 港元后快速拉升，午前创日内高点 189.6 港元，成交额 939.7 万港元，换手率仅 0.1%。当前股价较 52 周高点 287.0 港元回撤 33.94%，低于 MA60（205.935 港元），但站上 MA20（183.105 港元），显示短期动能修复。不过，市盈率（-58.48 倍）与市净率（58.24 倍）均处于高位，盈利前景仍存不确定性。

TenNor Therapeutics-B fell in the morning session, trading at HKD 180.4 as of 11:22 BJ, down 5.05% from the previous close, extending a post-IPO pullback amid profit-taking and market concerns over its earnings outlook. The stock hit an intraday low of HKD 180.4, below its 20-day MA (HKD 182.07) and 60-day MA (HKD 206.71), and is now 37.14% off its 52-week high of HKD 287, with a YTD decline of 14.5%. The biotech firm, known for its novel gastric drug TNP-2198 for H. pylori, surged over 98% on its debut on May 22 but has since faced selling pressure. With a turnover of only 24,450 shares and a 0.05% turnover rate, the stock lacks fresh catalysts. While the company remains unprofitable (PE -55.64), its high PB of 55.42 suggests long-term optimism about its pipeline.