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《大行》招銀國際升科倫博泰(06990.HK)目標價至498.55元續籲買入
阿思達克 08-22 11:49
招銀國際研究報告指,科倫博泰生物-B(06990.HK)上半年收入9.5億元人民幣(下同),淨虧損1.45億元。期內產品銷售額達3.1億元人民幣,當中SKB264貢獻3.02億元,相當於該行全年預測的34%。SKB264早前獲批用於治療後線三陰性乳腺癌(TNBC)和EGFR突變非小細胞肺癌(NSCLC),目前正處於加速增長的初期階段。管理層維持SKB264全年銷售額8至10億元的目標。該行預期SKB264兩個已獲批適應症將自明年初起納入國家醫保目錄。 上半年,公司合作收入及研發服務收入共錄6.41億元,包含對外授權SKB378(TSLP)予WindwardBio的首付款,以及來自默沙東的里程碑付款。銷售開支佔銷售額比例為58%,反映SKB264獲批後開展商業活動。現金及金融資產總值44.6億元,為商業化及研發發展提供充足資金。 該行對SKB264的全球發展保持信心,將目標價由299.93港元上調至498.55港元,此按現金流折現率作估值,維持「買入」評級。
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