On May 28, Kelun-Biotech Biopharmaceutical fell 3.21% in regular trading, trading at 456.6 HKD/share, with trading volume of approximately 117 million HKD.

On the news front, the stock had rallied sharply over the preceding sessions driven by positive ASCO annual meeting clinical data and Nomura raising its target price to 544.42 HKD. However, recent reports highlighting the full deceleration across the Kelun group triggered a reassessment of fundamentals and profit-taking. Specifically, Kelun-Biotech reported 2025 revenue of 2.058 billion yuan, up 6.5% year-over-year, but net losses widened to 382 million yuan from 267 million yuan in the prior year, as authorization and milestone income declined significantly while R&D expenses and commercialization costs remained elevated. The broader biotechnology sector also traded weak, with peers including Akeso down 3.82%, BeiGene down 2.55%, and Innovent Bio down 2.28%.

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