On May 21, PegBio Co Ltd (02565.HK) fell 5.14% in regular trading, trading at HK$14.38/share with trading volume of HK$29.44 million, extending a multi-day pullback after its explosive rally earlier in the week.
The decline follows concerns over a share lock-up expiry period. The stock had surged over 100% on May 18 after the company announced a strategic commercialization partnership with Tengrui Pharma for its GLP-1 drug Paidakang (Vipeptanate Injection) targeting the Chinese mainland market. Under the agreement, Tengrui will pay approximately HK$140 million in licensing fees, with both parties targeting cumulative sales exceeding RMB 10 billion. The stock continued climbing on May 19 and May 20 before reversing course.
The current retreat contrasts with the broader Biotechnology sector, where peers including AKESO (+7.13%), REMEGEN (+5.13%), INNOVENT BIO (+3.97%), BEIGENE (+3.04%), and 3SBIO (+2.44%) posted gains during the session.
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