REMEGEN (09995) rose more than 5% in today's trading session. At the time of writing, the stock was up 4.41% to HK$90, with a turnover of HK$152 million. The increase follows recent news that the marketing application for REMEGEN's RC288 injection has been accepted by the National Medical Products Administration (NMPA). RC288 is a PSMA/B7H3 antibody-drug conjugate (ADC) independently developed by REMEGEN. In pre-clinical studies, the drug candidate demonstrated excellent anti-tumor activity and a favorable safety profile.

Analysis from Guotai Haitong Securities suggests that REMEGEN is poised to enter a new phase of growth starting in 2026. This growth is expected to be driven by the approval and inclusion in China's national reimbursement drug list (NRDL) of new indications for RC18, RC48, and RC28. Overseas approvals for RC48 and RC18 are anticipated to commence from 2027, generating sales royalties for the company. Additionally, beginning in 2025, REMEGEN is projected to secure multiple out-licensing deals for its assets, with upfront and milestone payments expected to be recognized in subsequent years, thereby strengthening its financial statements. The company's newly initiated global first-in-class pipelines, including the CDCP1 ADC RC278 and the B7H3/PSMA ADC RC288, possess significant global potential and are likely to create further out-licensing opportunities.