The shares of Baiji Shenzhou soared in the early hours of trading today. By the end of the afternoon, the company had risen nearly 30%.
Amgens $2.7 billion strategic investment
It is understood that Baiji Shenzhou is a global biopharmaceutical company, which is committed to the research and development of new molecular targeted drugs and tumor immune drugs. It is mainly engaged in the research and development of molecular targeted drugs, the creation of immunotumor therapy, and the optimization of joint drug use programs. The company was listed on NASDAQ in 2016.
In addition, Baiji Shenzhou and Amgen have established a global cancer strategic partnership in the pharmaceutical business.
The company said on official wechat that it mainly includes: cooperation between the two sides on the commercialization of Agave? (xgeva?) desumab injection, kyprolis? Kafzomib for injection and blincyto? Belindormib for injection in China; the two sides will jointly develop 20 anti-tumor pipeline drugs, and Baiji Shenzhou will be responsible for the development and commercialization in China as part of its global development plan Part.
Its a great pleasure to work with Amgen to develop and commercialize its extensive anti-tumor pipeline, said Ou Lei Qiang, co-founder, chairman and CEO of Baiji Shenzhou, on the official micro blog. In addition, the conclusion of the strategic alliance will further broaden the product portfolio of the Chinese commercialization team led by Dr. Wu Xiaobin. By the end of 2020, we will probably bring up to eight innovative products independently developed and authorized to be introduced for cancer patients.
Short by institutions
It is worth mentioning that Baiji Shenzhou, known as the leader in the field of cancer innovative drug development in the industry, was also bullied by short selling institutions two months ago.
On September 5, jcapital research, a short selling agency, issued a short selling report against Baiji in Shenzhou, questioning the companys unreasonable establishment of a factory in Guangzhou and the existence of interest transmission in connected transactions, and accusing the company of counterfeiting sales. It is estimated that the actual sales data is 57% less than the financial report.
In the two days after the short report was released, the stock prices of NASDAQ and Hong Kong stocks in Baiji Prefecture fell more than 10% in total.
On September 6, Baiji Shenzhou issued a notice denouncing short selling reports for fabricating facts. Then on September 9, Baiji held a conference call with investors to refute the allegations in the short report about the companys false increase of 60% in sales, related interest transmission, and uncontrolled R & D expenses.
Source: e company editor in charge: Yang bin_nf4368