歌礼制药-B(1672.HK):全年经营符合市场预期 代谢性疾病管线进展喜人

中信建投证券
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核心观点公司全年收入0.01 亿元,符合市场预期。研发支出3.02 亿元,同比增加39.5%,2024 年研发加大力度表明公司整体向创新研发转型侧重。ASC30 在口服试验数据中疗效和安全性良好,产品具备BIC 潜质,期待后续临床开展以及产品国际化发展;ASC47海外临床持续推进,后续将开展和司美格鲁肽的验证实验,值得期待。整体看,公司核心产品表现亮眼,2025 年管线规划清晰,看好公司后续发展。...

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