LONGBIO-B

Tianchen Bio-B opened higher and rallied in the morning session, closing up 5.92% at HKD 87.70, climbing from the opening price of HKD 82.80 within a narrow intraday range. The main catalyst is the lingering effect of the FDA's approval of its clinical trial application for LP-003 targeting peanut allergy, a significant market opportunity that boosted the stock from its recent lows. However, the company remains loss-making, with a net loss of approximately HKD 42.27 million in Q4 2025, EPS of HKD -0.70, and no revenue. Its PE stands at -34.43x and PB at a high 43.02x, reflecting valuation pressure. The current price is 47.14% below the 52-week high of HKD 165.90 and trades below both the 20-day MA (91.57) and 60-day MA (115.36), indicating weak price positioning. Nonetheless, past volatility post-IPO stabilization period and dilution concerns from the greenshoe exercise warrant attention.

Tianchen BioPharma opened sharply lower and weakened throughout the session, closing down 6.42% at HKD 83, after briefly spiking to HKD 91.2 in the morning before heavy selling pressured it to a fresh intraday low of HKD 83 in the afternoon, for a roughly 9.6% daily range. The drag stemmed from lingering overhang from the greenshoe exercise: the company recently completed full exercise of 2,128,950 shares, and earlier dilution fears from the overallotment option had triggered a near-30% single-day plunge. No fresh positive catalysts emerged today, leaving short-side momentum intact. Financially, Q4 2025 net loss narrowed 11.69% YoY to HKD 42.27 million, but operating loss widened 14.79% YoY, signaling sustained R&D spending. On price positioning, the stock is now roughly 50% below its 52-week high of HKD 165.9, and trades below both its 20-day MA (HKD 92.5) and 60-day MA (HKD 116.1), with a YTD decline of 37%, all pointing to a fragile technical picture. Still, the FDA's recent clearance of its LP-003 clinical trial for peanut allergy may offer a potential catalyst for a rebound.

Tianchen Bio-B surged on its Hong Kong debut today, opening at HK$89.20 and initially plunging to an intraday low of HK$85.75 during the morning session, before staging a dramatic recovery. The stock rallied further in the afternoon, hitting a session high of HK$101.20 and closing at HK$99.75, up 11.89% from the IPO price of HK$89.15. The catalyst was the FDA's approval of a clinical trial application for LP-003 targeting peanut allergy, announced on the listing day, which added to the positive momentum from previous LP-003 trial data. However, the company remains unprofitable, with a Q4 2025 net loss of approximately HK$42.3 million and EPS of -HK$0.7039. The stock is trading at a PB of 48.94x, and while it has risen from its 52-week low of HK$72.65, it is still down 39.87% from its 52-week high of HK$165.90. The current price of HK$99.75 sits slightly above the 20-day MA (HK$99.41) but well below the 60-day MA (HK$118.35), reflecting a tension between near-term clinical catalysts and elevated valuation multiples.

LongBio Pharma-B opened low and rallied in the morning session, reaching HK$92.90 by 09:53 BJT, up 5.98% from its open of HK$87.65, though still 44% below the 52-week high of HK$165.9 with a YTD decline of 29.51%. The FDA recently cleared a clinical trial application for LP-003 in peanut allergy, along with prior positive Phase III results for LP-003 in seasonal allergic rhinitis, fueling a rebound from early lows. However, the company reported a Q4 2025 loss per share of -HK$0.7039 and a net loss of HK$42.27 million, while the stock trades well below its 20-day MA of HK$105.513 and 60-day MA of HK$119.911, underscoring ongoing valuation headwinds.

LongBio Pharma staged a morning session bounce-and-reversal, opening at HK$84.0 and briefly hitting a 52-week low of HK$83.0 before surging to an intraday high of HK$89.8, closing at HK$89.7, up 5.65% from the previous close of HK$84.9, but thin trading of only 6,000 shares (HK$0.51 million turnover). The rise was driven by recent FDA clearance of its LP-003 peanut allergy clinical trial and positive Phase III results for LP-003 in seasonal allergic rhinitis. However, prior dilution concerns from full greenshoe exercise and IPO stabilization period expiry had triggered a ~29% single-day crash, and the stock remains 45.93% below its 52-week high of HK$165.9, trading below both the 20-day MA (HK$108.5) and 60-day MA (HK$120.8). Q4 2025 net loss narrowed 11.69% YoY to HK$42.3 million, but the company remains pre-revenue.