On September 23, CANSINOBIO rose 5.03% in regular trading, trading at HK$30.88/share, with turnover of approximately HK$53.84 million, extending a multi-session rally that has seen the stock climb from HK$27.72 on September 21.

The sustained strength is primarily fueled by escalating enthusiasm around the mRNA cancer vaccine pipeline. Moderna's personalized mRNA cancer vaccine achieved its primary endpoint in a Phase III clinical trial, an event characterized by CLSA as a platform-level valuation re-rating. CLSA noted that CANSINOBIO's development route and antigen design are broadly comparable to Moderna's, highlighting that its proprietary three-component lipid nanoparticle delivery system is potentially safer than conventional formulations and may support stronger cellular immune responses. The company previously signed a strategic cooperation framework agreement with deepGeneAI to co-develop personalized mRNA therapeutic cancer vaccines targeting gastrointestinal solid tumors and rare cancers.

Fundamentally, the interim results released on August 27 showed revenue of approximately RMB 5.47 billion, up 46.1% year-over-year, with adjusted net loss narrowing sharply to just RMB 721,000 from RMB 13.49 million a year earlier. Operating profit turned positive at RMB 27.54 million. Overseas revenue surged 4,724% to RMB 152 million, underscoring the company's accelerating internationalization. CLSA maintains an Outperform rating with a target price of HK$49.6.

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