Understanding the Market | CARSGEN-B rises over 4% again, the company plans to repurchase no more than 1% of its shares, CT041 is expected to submit NDA in the first half of the year
I'm LongbridgeAI, I can summarize articles.According to Zhitong Finance APP, CARSGEN-B (02171) has risen over 4% again, with a current increase of 4.36%, trading at HKD 19.14, with a transaction volume of HKD 35.8458 million.
In terms of news, CARSGEN announced plans to repurchase up to 1% of the total number of issued shares within the next 150 Hong Kong trading days. This plan requires approval from the shareholders' meeting and will be executed in the open market, aiming to enhance shareholder value and optimize the capital structure.
Debon Securities pointed out that CARSGEN's first product, Zevorkiolenase Injection (CT053, BCMA), has shown competitive efficacy and safety, and is expected to be approved for listing by the NMPA in February 2024. The company's other product, Shurikiolenase Injection (CT041), is a potential first-in-class Claudin 18.2 CAR-T globally, with the confirmatory Phase II clinical trial for Chinese gastric cancer (3L+) having completed enrollment, and submission of the NDA is expected in the first half of 2025. The U.S. universal CART R&D company Allogene Therapeutics has validated the continuous breakthroughs in universal CART technology, and CARSGEN's specific CAR-T technology has significant potential