Stock Track | PegBio Plummets 6.96% Intraday Amid Lock-Up Expiry Concerns Following Partnership Rally

Stock Track

05/21

PegBio Co-B (02565.HK) experienced a significant intraday plummet of 6.96%, continuing its recent pullback after an explosive rally earlier in the week.

The decline is attributed to investor concerns over a share lock-up expiry period. This comes after the stock had surged over 100% following the company's announcement of a strategic commercialization partnership with Tengrui Pharma for its GLP-1 drug Paidakang (Vipeptanate Injection) targeting the Chinese mainland market.

Under the agreement with Tengrui Pharma, PegBio is set to receive approximately HK$140 million in licensing fees, with both parties targeting cumulative sales exceeding RMB 10 billion. The current retreat contrasts with gains in the broader biotechnology sector during the session.

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