FAST NEWS: So-Young Feels Pain from Pandemic Disruptions

The latest: Cosmetic surgery app operator So-Young International Inc. (SY.US) said its revenue fell 16.5% year-on-year in the first quarter to 300 million yuan ($45 million), while its net loss widened to 66.8 million yuan from 45 million yuan over the same period, according to its latest results published on Monday. Looking Up: The number of paying medical service providers on So-Young’s platform rose 11.7% to 5,254 in the first quarter from 4,702 a year earlier. Take Note: Most of the company’s other indicators were down for the quarter, including a nearly 50% decline in…

Read More »

FAST NEWS: Junshi Biosciences Oral Covid Drug Wraps Up Trials, to Seek Sales Approval

The latest: Drug developer Shanghai Junshi Biosciences Co. Ltd. (1877.HK; 688180.SH) announced late Monday that VV116, an oral drug developed by its JunTop Biosciences unit for the early treatment of Covid-19, has reached the main endpoint of clinical studies. Looking up: The company said it will communicate with China’s National Medical Products Administration (NMPA) on submitting a new drug application in the near future. If approved, sales of the drug could provide a major new revenue source. Take Note: The NMPA has approved the import of the oral Covid drug Paxlovid from Pfizer (PFE.US), which has been conditionally included on the National Reimbursement…

Read More »

FAST NEWS: Connect Biopharma Plunges on Poor Results for Colitis Drug

The latest: Connect Biopharma (CNTB.US) said late on Tuesday that results from a Phase 2 trial for its CBP-307 drug for treatment of patients with moderate to severe ulcerative colitis “did not achieve statistical significance.” Looking Up: Despite failing to achieve statistical significance, the new data still “demonstrate the potential for CBP-307 to provide benefit to patients living with moderate to severe ulcerative colitis,” CEO Zheng Wei said in a statement. That indicates the company believes the drug may still have commercial potential. Take Note: Connect Biopharma said it intends…

Read More »

FAST NEWS: HutchMed Shares Plunge on U.S. Cancer Drug Rejection

The latest: HutchMed (China) Ltd. (HCM.US; 0013.HK) announced late Monday that its Surufatinib drug for the treatment of advanced neuroendocrine tumors was denied approval by the U.S. Food and Drug Administration (FDA). Looking up: The FDA indicated its denial was not related to any safety issues, but instead said that additional multi-regional clinical trials (MRCTs) more representative of the U.S. patient population would be needed to support a U.S. approval. Take Note: The FDA determined that the current data package, based on two positive Phase 3 trials in China and…

Read More »

FAST NEWS: Covid Vaccine Boosts CanSino to Profitability

The latest: CanSino Biologics Inc. (6185.HK; 688185.SH) said late Thursday its revenue rose 7% year-on-year to about 500 million yuan ($75.5 million) in the first quarter of this year, as it turned from a loss to a profit of 121 yuan million for the period. Looking up: The return to profitability was mainly due to the continued commercialization of products, most notably the company’s updated Covid-19 vaccine. Take Note: The company’s net cash flow from operating activities decreased 25.9% to 159 million yuan in the first quarter, mainly due to…

Read More »

FAST NEWS: WuXi AppTec Q1 Profit Doubles on Strong Chemical Business

The latest: Pharmaceutical services outsourcing company WuXi AppTec Co. Ltd. (2359.HK; 603259.SH) reported its revenue rose 71.2% to 8.47 billion yuan ($1.29 billion) in the first quarter, while its operating profit rose 106% to 1.71 billion yuan, according to an announcement late on Monday. Looking up: The company’s chemistry business was particularly strong for the quarter, with revenue up 102% to 6.12 billion yuan, accounting for 72% of its total, mainly due to an increase in customer volume and the addition of new capacity. Take Note: Net cash flow from operating activities…

Read More »

FAST NEWS: WuXi AppTec’s Operating Profit Doubles in First Quarter

The latest: Pharmaceutical services outsourcing company WuXi AppTec Co. Ltd. (2359.HK; 603259.SH) forecast it will post a net profit of about 1.64 billion yuan ($258 million) in the first quarter, up about 9.54% from the same period in 2021, according to an announcement on Sunday. Looking up: The company said it avoided major Covid disruptions during the quarter by activating its business continuity plan in a timely manner to ensure stable production and operations, enabling it to maintain timely delivery of orders. As a result, its first-quarter net profit, excluding non-recurring…

Read More »

FAST NEWS: Kintor Pharma Soars on Good Results for Covid Drug

The latest: Kintor Pharmaceutical Ltd. (9939.HK) on Wednesday announced positive results from a Phase 3 clinical trial for its drug Proxalutamide for the treatment of mild-to-moderate ambulatory Covid-19 patients, saying top-line data showed the drug was effective in reducing hospitalization and mortality rates, particularly in middle-aged and elderly people with high risk factors. Looking up: The company said that throughout the trial, the incidence of treatment-emergent adverse events in the two groups of subjects was only 7.9% and 9.6%, most of which were mild reactions such as dizziness. It added…

Read More »

FAST NEWS: CanSino’s Covid mRNA Vaccine Approved for Clinical Trials in China

The latest: A new Covid-19 mRNA vaccine developed by CanSino Biologics Inc. (6185.HK) has been approved by China’s National Medical Products Administration to begin clinical trials in the country, the company announced on Monday. Looking up: The announcement cites preclinical studies showing the new vaccine can induce high-titer neutralizing antibodies against multiple Covid variants recognized by the World Health Organization as important variants, including the current dominant strain. Compared with the current original strain-based Covid vaccines, the company stated that its new mRNA vaccine can elicit neutralizing antibodies with better…

Read More »

FAST NEWS: Vaccine Maker Jiangsu Recbio Gets Little Boost on Listing Day

The latest: Jiangsu Recbio Technology Co. Ltd (2179.HK), a producer of human papillomavirus (HPV) vaccines, received a muted reception as it made its trading debut in Hong Kong on Thursday. According to the allotment results, its offer of 3.055 million shares received orders from 7,853 subscribers, equating to an over-subscription rate of 9.65 times. Successful subscribers purchased shares at an IPO price of HK$24.80 per share. Looking up: The share sale raised a net HK$670 million ($85.9 million), of which 47.3% will be used for the development, production and commercialization…

Read More »