CStone Revs Up for Big Growth With New Drug Approval

Company says China has approved its latest cancer drug, which it is commercializing with global pharmaceutical giant Pfizer Key takeaways: CStone announced its monoclonal antibody drug Cejemly has been approved by China’s drug regulator for treatment of certain lung cancers The company is valued relatively low compared with its peers, and is expected by Morgan Stanley to turn a profit in 2023 By Wut Yee Biomedical company CStone Pharmaceuticals (2616.HK) has been cleared in China to sell its first cancer drug, which it is commercializing with the global pharmaceutical giant…

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FAST NEWS: SenseTime Shrugs Off U.S. Sanctions, Jumps in HK Debut

The latest: Chinese artificial intelligence (AI) company SenseTime Group Inc. (0020.HK) debuted strongly in Hong Kong on its first day of trade. The stock opened at HK$3.91 ($0.50), up 1.6% from its IPO price of HK$3.85, and continued to rise from there through the morning. It was up 11.4% at HK$4.29 at the midday break. Looking up: The company enjoyed a large transaction volume of about HK$1 billion as of 2:30 p.m., 43% of which were block trades that often reflect interest from institutional investors. Take Note: The offering was only oversubscribed…

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I-Mab Founder Retakes Reins in Latest Shakeup Ahead of Commercialization Phase

Drug maker announces latest senior appointments as investors anticipate regulatory approval for some of its products as early as 2023 Key takeaways Four-year company veteran and CEO Joan Shen to depart I-Mab as chairman and founder Zang Jingwu gets set to resume the role Analysts upbeat as company earmarks 2023 for regulatory approval of key drugs and launch of production facility By Richard Barbarossa In a twist on an old adage, it appears to be a case of “out with the old and in with the not-so-new,” at drug developer…

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