Stock Track | PegBio Soars 28.96% Intraday on Exclusive GLP-1 Drug Commercialization Deal

Stock Track

May 19

PegBio Co-B's stock soared 28.96% during intraday trading on Tuesday, marking a significant price movement for the biopharmaceutical company.

The surge appears driven by the company's recently announced strategic commercialization partnership with Tengrui Pharmaceutical for the exclusive rights to commercialize Paidakang (Weipeinatide injection), PegBio's innovative GLP-1 receptor agonist, in mainland China. The agreement sets a core target of achieving cumulative sales exceeding RMB 10 billion, with Tengrui Pharmaceutical to make an equity payment of approximately HK$140 million to PegBio. Furthermore, Tengrui has signed a strategic cooperation with Fangzhou Jianke to launch Paidakang on its internet hospital platform for a nationwide debut, expanding the drug's market access.

Analysts have noted that PegBio's valuation could see further upside potential, considering this commercialization deal alongside the potential future approval of its drug PegBin for the functional cure of chronic hepatitis B and expansion in its growth hormone business.

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