On June 29, Insilico Medicine fell 5.7% in regular trading, trading at HK$37.88/share, with turnover of HK$75.63 million. The decline was driven by intensifying market concern over the imminent expiry of a massive lock-up period scheduled for June 30, with selling pressure concentrating on the last trading day before the unlock date.

The stock had accumulated gains of nearly 50% since mid-June, fueled by a series of positive catalysts including a $2.5 billion AI drug discovery collaboration with SK Biopharmaceuticals and the upcoming Phase III clinical trial of its lead candidate Rentosertib. However, the substantial short-term profit accumulation created significant overhead pressure. Fundamentally, the company reported a 34.48% year-over-year decline in revenue and a net loss attributable to shareholders of $352 million, with no earnings inflection point yet in sight. The convergence of lock-up expiry concerns and profit-taking from elevated levels formed a resonant selling force.

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