HK-listed HBM jumps on H1 profit expectations

HBM Holdings

14/07/2023 04:33

** Shares of immuno-oncology antibody therapeutics developer
HBM Holdings Ltd  2142.HK  jump as much as 33.8% to HK$1.98,
their highest since June 16, and on course for the second
session of gains
    ** Stock set for biggest one-day pct rise since December 23
if gains hold; second biggest pct gainer on the Hong Kong bourse
    ** Company expects to post $2 mln-4 mln profit for H1 2023,
as compared to $73.1 mln loss in H1 2022, with total revenue up
44.9% YoY to ~$40 mln on the back of improved cost control and
contribution from out-licensing and collaboration of products   
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.6% and the healthcare index  .HSCIH  climbs 0.1%
    ** The Hang Seng Composite Index  .HSCI  adds 0.4% and the
Hang Seng Index  .HSI  up 0.5%
    ** As of last close, the stock had dropped 47.3% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))