Changes in Hong Kong stocks | Kingsley Biotech (01548) extended its decline by more than 11% in the afternoon, the stock price of the joint venture Legend Biotech plummeted 7% overnight

The Zhitong Finance App learned that Kingsley Biotech (01548) increased its decline by more than 11% in the afternoon. As of press release, it fell 11.07% to HK$1,341, with a turnover of HK$307 million.

According to news, Kingsley Biotech's stock price plummeted by more than 7% overnight. According to media reports, at the 2025 American Society of Hematology (ASH) annual meeting, Gilead Sciences' Kite Pharma announced the latest clinical data for the next generation CAR-T therapy Anito-cel. This drug candidate for multiple myeloma showed an overall remission rate of 96% and a complete remission rate of 74%, while maintaining excellent safety.

A previous research report by Huatai Securities pointed out that Legendary Biotech's losses have narrowed, and the group's blueprint is clear. CARVYKTI achieved sales of US$1,332 million in the first three quarters, with Q3 sales of US$524 million; in the first three quarters, Legend Biotech achieved a net loss of US$266 million, of which Q3 had a net loss of US$40 million, a sharp year-over-year/month-on-month reduction. We are optimistic about the orderly growth of profits and reversal of losses in all business segments of Kingsley Biotech.