Changes in Hong Kong stocks | Genting Xinyao (01952) rose more than 7% to introduce two former Modena core scientists' independent mRNA platform, global clinical development is expected to accelerate

The Zhitong Finance App learned that Genting Xinyao (01952) rose more than 7%. As of press release, it had risen 6.21% to HK$32.52, with a turnover of HK$288 million.

According to the news, the pharmaceutical sector bucked the trend and strengthened when most of the US technology stocks fell cold overnight. Among them, Modena's stock price, the “first cancer vaccine stock,” hit a new high since January 4, 2022. In August of this year, Modena and MSD's personalized mRNA cancer vaccine achieved positive clinical results in phase III clinical trials, proving the viability of mRNA in tumor treatment and driving the capital market to re-evaluate the value of the racetrack. Fangzheng Securities believes that Genting Xinyao's self-developed pipeline is the closest to Modena's R&D path, and that the self-developed mRNA-related pipelines all hold global interests and are scarce and comparable.

Notably, on October 9 this year, Genting Xinyao announced the appointment of two former senior Modena tumor vaccine scientists, Dr. Lakshmi Srinivasan, as senior vice president and head of translational medicine, and Dr. Brandon Coder as vice president of translational science and early research. Both are core members of intismeran (mRNA-4157/v940), and the global clinical development of the company's own mRNA platform is expected to accelerate.