科伦博泰生物(06990)今日盘中出现大跌，跌幅达5.02%。
消息面上，此次下跌主要源于市场对科伦系公司基本面的重新审视。此前，科伦博泰因ASCO年会临床数据利好及机构上调目标价等因素连续上涨，积累了较多获利盘。然而，近期披露的财务数据显示，科伦博泰2025年虽营收增长6.5%，但净亏损扩大至3.82亿元，主要因授权及里程碑收入大幅减少、研发与商业化投入高企所致。同时，其母公司科伦药业及关联公司川宁生物的核心盈利指标也出现全线大幅下滑。
这种“增收不增利”的财务现实，与市场此前对其研发管线的乐观预期形成落差，导致部分资金选择获利了结，从而对股价形成压力。
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