Changes in Hong Kong stocks | China's antibody-B (03681) rose more than 12%, the self-exempt circuit continues to be booming, and the company is building a differentiated pipeline

The Zhitong Finance App learned that China Antibody-B (03681) rose by more than 12%. As of press release, it had risen 12.6% to HK$1.43, with a turnover of HK$16.661 million.

According to news, global autoimmune drugs are the second-largest innovative drug race after antineoplastic drugs, and the market size is steadily expanding. Huaxi Securities believes that the global market is led by MCN such as Sanofi and AbbVie, which relies on product iteration to cross the patent expiration cycle. Domestic companies have formed a differentiated competitive echelon. Comprehensive pharmaceutical companies have achieved a full target layout. Biotech, which focuses on the field of self-protection, entered the market with core products, and performance was accelerated after medical insurance was implemented; small oral molecule companies relied on a differentiated racetrack to establish competitive advantage. Furthermore, domestic free pipeline overseas BD transactions are frequent, further enhancing corporate valuation space.

According to reports, the Chinese antibody research and development team focused on global FIC and BIC pipeline development and external licensing, and built a highly differentiated pipeline in the field of autoimmune diseases. Currently, the phase II clinical trial of SM17 to treat moderate to severe atopic dermatitis completed the first patient administration in China on March 31 this year. Enrollment is expected to be completed in the second half of 2026, and top-line data will be read out in the first half of 2027. Furthermore, hC2 has excellent pre-clinical efficacy and safety data. The relevant findings were announced at the annual meeting of the American Academy of Dermatological Research in May this year, and it is planned to submit an IND application by the end of 2026.