Baili Tianheng (688506) opened low on the 14th, and fell more than 10% intraday. As of press time, the stock fell about 9%, with a turnover of more than 200 million yuan.
Yesterday, the stock hit a record high intraday limit,**167%, up about 40% in two days (12th-13th).
The company issued a reminder yesterday evening that after self-inspection, the company's current production and operation activities are normal, and the company's market environment and industry policies have not undergone major adjustments. The company's deviation from the increase in the last three consecutive trading days has accumulated more than 30%, and the stock price has accumulated more profit adjustment risks. The company specifically reminds investors that the company's share price may be at risk.
On December 11, Systimmune, a wholly-owned subsidiary of the company, reached a cooperation agreement with Bristol-Myers Squibb on the BL-B01D1 (EGFR HER3 bispecific antibody ADC) project. The company is concerned that after the company disclosed the cooperation agreement between Systimmune and Bristol-Myers Squibb, a number of ** reported on this. As of the disclosure date of this report, the company is actively promoting the cooperation agreement in accordance with relevant regulations.
The company said that the final entry into force of the cooperation agreement between Systimmune and Bristol-Myers Squibb is subject to the necessary approvals from antitrust regulators, and there is uncertainty as to whether the cooperation agreement will finally take effect. At the same time, the milestone payment agreed in the cooperation agreement needs to meet certain conditions, and the final milestone payment is still uncertain.
In addition, as of September 30, 2023, the company's net profit attributable to owners of the parent company was negative. At present, the company's innovative biological drugs have not yet been approved for marketing and require continuous high R&D investment, so the company will not be able to achieve profitability and profit distribution in 2023.