According to the Shanghai Securities Report, the innovative drug circuit, which was affected by the siphon effect in the technology sector, has finally ushered in its own “summer.” “The previous pessimism had brought many high-quality assets to the 'floor price', but after visiting first-tier industries, investment confidence recovered little by little.” A publicly funded researcher in Shanghai told reporters. Compared to the previous round of blind “BD grabbing” investment logic, at this stage, institutions are more concerned about whether pharmaceutical companies' cash reserves can support multiple rounds of high clinical investment and whether the probability of reaching pipeline milestones is sufficient. Industry insiders believe that in the past, pricing methods that emphasized BD down payment and “light back end, heavy down payment” may be rewritten. In the future, more continuous cash flow may become an important engine driving the revaluation of China's innovative drug assets.

According to the Shanghai Securities Report, the innovative drug circuit, which was affected by the siphon effect in the technology sector, has finally ushered in its own “summer.” “The previous pessimism had brought many high-quality assets to the 'floor price', but after visiting first-tier industries, investment confidence recovered little by little.” A publicly funded researcher in Shanghai told reporters. Compared to the previous round of blind “BD grabbing” investment logic, at this stage, institutions are more concerned about whether pharmaceutical companies' cash reserves can support multiple rounds of high clinical investment and whether the probability of reaching pipeline milestones is sufficient. Industry insiders believe that in the past, pricing methods that emphasized BD down payment and “light back end, heavy down payment” may be rewritten. In the future, more continuous cash flow may become an important engine driving the revaluation of China's innovative drug assets.