Global Healthcare Analyst

Tina Banerjee

Equity research analyst having 15+ years of experience, with an interest on fundamentally strong global healthcare companies. I have been helping investors to find future winners in healthcare space to grow their wealth by focusing on the strength and potential of the business models of the companies. My initiating coverage reports and pitch help investors to know ‘what to buy’, ‘why to buy’, and ‘when to buy’. My clients always remain on top of the sector with the help of my timely and detailed notes on earnings or any news update. I also provide broader view on the entire healthcare sector through periodic thematic reports.

CStone Pharma (2616 HK): Placement to Fund R&D; Sugemalimab Changes Fortune For Now, What Lies Next?

Equity Bottom-Up

CStone Pharmaceuticals / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/cstone-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:27882:1" rel="noopener">CStone Pharmaceuticals (2616 HK)</a> reported 80.5% YoY decrease in revenue to RMB 49.4M as sales of pralsetinib decreased substantially due to price adjustments in preparation for the NRDL negotiation.</li>
<li>R&amp;D expenses surged 59% YoY to RMB 105M primarily attributable to ongoing clinical trials. In 1H25, the company’s loss stood at RMB 270M vs profit of RMB 15.7M in 1H24.</li>
<li>Expanded indications of sugemalimab, the successive data readouts, approvals and continuous commercialization expansion efforts into global markets are near term triggers, but concerns remain.</li>
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CStone Pharmaceuticals (2616 HK) reported 80.5% YoY decrease in revenue to RMB 49.4M as sales of pralsetinib decreased substantially due to price adjustments in preparation for the NRDL negotiation.
R&amp;D expenses surged 59% YoY to RMB 105M primarily attributable to ongoing clinical trials. In 1H25, the company’s loss stood at RMB 270M vs profit of RMB 15.7M in 1H24.
Expanded indications of sugemalimab, the successive data readouts, approvals and continuous commercialization expansion efforts into global markets are near term triggers, but concerns remain.


CStone Pharma (2616 HK): 1H25 Revenue Drop Seems Temporary Hiccup; Sugemalimab Trigger Awaited