On August 21, XTALPI fell 5.59% in regular trading, trading at HKD 7.64/share, with turnover of HKD 108 million.
The decline was driven by a combination of disappointing interim results and profit-taking following the prior session's 11.27% surge triggered by an mRNA cancer vaccine breakthrough. The company reported H1 revenue of RMB 394 million, down 23.9% year-over-year, and swung to a net loss of RMB 225 million from a profit of RMB 75.6 million a year earlier. R&D expenses surged 66% to RMB 368 million as the company ramped up investment in autonomous laboratories and pipeline programs. The company noted the revenue decline was largely attributable to a high base from a USD 51 million upfront pipeline licensing payment recognized in the prior-year period; excluding this factor, core business revenue grew 73.8%. Nevertheless, the confirmed loss combined with concentrated selling from short-term gains accumulated during the previous day's sector-wide rally weighed on the stock.
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