KEYMED BIO-B (02162) gained nearly 6% again, rising 5.97% to HK$71 by the time of writing, with a turnover of HK$415 million. On the news front, KEYMED BIO's 2025 results showed the company achieved annual revenue of 720 million yuan. Among this, revenue from CMG313 sales was approximately 315 million yuan, while collaboration revenue amounted to 402 million yuan. Earlier, KEYMED BIO announced that its collaboration entity, Ouro Medicines, had signed a merger agreement with Gilead Sciences. Gilead will acquire Ouro Medicines via the merger, with the transaction including an upfront payment of $1.675 billion and up to $500 million in milestone payments, bringing the total potential deal value to $2.175 billion. Huatai Securities noted that, considering the inclusion of its three major indications in the national reimbursement drug list, favorable pricing, and rapid hospital adoption, it expects a significant sales surge in 2026. Meanwhile, the pathway for realizing the company's global value has become clearer. Kaiyuan Securities pointed out that KEYMED BIO has achieved rapid revenue growth driven by the swift sales expansion of its flagship product CMG313 and the recognition of upfront payments from out-licensed products. Given that its partner Ouro Medicines, in which KEYMED BIO holds a 15% stake, has been acquired by Gilead, the company is set to receive approximately $250 million in upfront payments upon deal completion, which will bolster its future performance.