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股價反彈超61%!衆生藥業創新藥研發迎來“收穫期”

近期,創新藥走出一波大牛市,資金正在挖掘更多低位補漲個股。

今日,衆生藥業股價全天漲9.99%,但未封住板,最新報16.84元/股,總市值143.3億元。

盤後,衆生藥業發佈股票交易異常波動公告,稱公司股價6月9日、10日連續2個交易日內漲幅偏離值累計超20%。

多管線並行

市場非常關注衆生藥業在創新藥研發管線上的佈局。

據介紹,衆生藥業目前已有2個創新藥項目獲批上市,多個項目處於臨牀試驗階段。

其中,在研產品RAY1225注射液屬於長效GLP-1類藥物,具有GLP-1受體和GIP受體雙重激動活性,臨牀上擬用於2型糖尿病及超重/肥胖等患者的治療。

衆生藥業透露,目前,RAY1225注射液治療超重/肥胖患者的III期臨牀試驗以及用於2型糖尿病患者的兩項III期臨牀試驗已獲得臨牀試驗倫理批件。

不過,衆生藥業也提示風險,該藥物的臨牀試驗進度、審評和審批的結果以及未來產品市場競爭格局都具有一定的不確定性。 

用於治療甲型流感的小分子創新藥昂拉地韋片(商品名:安睿威®)已獲得國家藥品監督管理局批準上市。

值得關注的是,昂拉地韋是由鍾南山院士掛帥研發,爲全球首個針對PB2新靶點的新藥,相關成果發佈會今日舉行。

對此,衆生藥業在最新的公告中提示,未來昂拉地韋片的商業化和銷售情況存在不確定性。

治療代謝功能障礙相關脂肪性肝炎(MASH)的一類創新藥ZSP1601片已完成Ib/IIa 期臨牀試驗,結果顯示其具有改善肝臟炎症、 壞死的潛力及抗纖維化的作用。

該管線正在開展IIb期臨牀試驗,參與者入組工作已完成。

此外,衆生藥業的口服單藥抗新冠病毒3CL蛋白酶抑制劑來瑞特韋片(商品名:樂睿靈®)已於2023年3月獲得批上市,並已納入2023年國家醫保目錄。

股價一度下跌70%

回顧來看,衆生藥業的股價在2022年11月創下歷史新高40.7元/股後一路走低,經歷長達兩年多的下跌,跌幅超70%,最低觸及9.65元/股。

近3個月纔有所企穩反彈,自4月9日以來,衆生藥業股價累計漲超61%。

業績上,衆生藥業2024年實現營收24.67億元,同比下滑5.48%;淨利潤爲-2.99億元,同比下滑213.63%。

今年一季度實現營收6.34億元,同比下滑1.03%;淨利潤爲8261.18萬元,同比增長61.06%。

展望未來,廣發證券預計,衆生藥業2025-2027年EPS分別爲0.36、0.45、0.54元/股,持續看好其核心業務長期穩健性以及在研創新藥的高效進展。

參考可比公司,廣發證券給予衆生藥業2025年45xPE,合理價值爲16.22元/股,維持“買入”評級。

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