Cailianshe (Shanghai, editor Muzi) reported that the total market value of is close to 90 billion, and it has two major vaccines, Watson Bio , which has a roller coaster of in the past two days. It fell by more than 7% yesterday and rose all the way to the opening today, rose by more than 17% at the highest. Looking at the long run, the company's stock price has been at a high rate of 39.49 yuan since the low of 39.49 yuan on March 9 this year, and the highest rebound rate of has reached 55%, far exceeding , ChiNext .
news, yesterday WHO published a document saying that for the prevention of cervical cancer caused by human papillomavirus (HPV), the effect of vaccination with one dose of HPV vaccine is comparable to the effect of vaccination with two doses. With the expectation of the "shrink" of the vaccine market, the stock prices of Zhifei Bio, Wantai Bio and Watson Bio fell in response to "panic".
Today, regarding the rumors that new crown mRNA vaccine is specially approved for in the stock bar, Watson Bio responded that "has no such thing."
The progress of Watson Bio's new crown mRNA vaccine can be said to have made the capital market "concerned". The mRNA vaccine developed by the company , Aibo Biologics and the Academy of Military Sciences is the fastest-progress in China.
Company stated at the performance briefing on April 6 this year that at present, the on-site work of the domestic Phase III clinical trial of the new crown mRNA vaccine has basically ended, and data collation and continuous serum testing are being carried out. The international multi-center Phase III clinical trial has also made phased progress. The vaccine has not been approved for production yet.
Public information shows that Watson Bio has built a 200 million dose per year COVID-19 mRNA vaccine production workshop in Yuxi ; the company is building a production base for recombinant COVID-19 vaccine (CHO cells) in Daxing, Beijing.
Currently, no mRNA vaccine has been approved for marketing in China, but has made continuous progress in the development of mRNA vaccines recently. In April this year, Shiyao Group and CanSino announced that their clinical trials of the new coronavirus mRNA vaccine were approved. Previously, companies such as Aibo Biologics, Si Microbiology, and Aimei Vaccine were also entering the clinical trial stage.
Academician of the Chinese Academy of Engineering Zhong Nanshan mentioned in a live broadcast online that according to my country's " dynamic zeroing " strategy, it is recommended to use xenomic vaccines as sequential vaccination. According to real-world data on heterologous vaccination carried out in Brazil , after receiving two doses of Sinovac vaccine, will be strengthened with mRNA vaccine for 14-30 days after is given the mRNA vaccine, the prevention infection rate can be as high as 92.7% and the prevention of severe illness reaches 97.3%.
Northeast Securities Liu Yuteng and other analysts said in a research report released on December 17, 2021 that public research and development paths for sequential vaccination can effectively improve the level of neutralizing antibodies, and Watson Bio- simultaneously promotes three new crown vaccine development paths: the new crown mRNA vaccine has entered the phase III clinical stage; the recombinant new crown vaccine (chimp adenovirus vector) and the recombinant new crown vaccine (CHO cells) are in the phase II clinical stage; if the mRNA vaccine is excellent in the phase III results, it is expected to bring high elastic growth to the company.
But behind the rapid advancement of the vaccine, Watson Bio seems to be in the dilemma of "increasing revenue but not increasing profits" . According to the company's previous annual report, in 2021, the company achieved operating income of 3.463 billion yuan, a year-on-year increase of 18%; the net profit of was 2.428 billion yuan, and the year-on-year decrease of 57.36%.
In response to the Shenzhen Stock Exchange's annual report inquiry letter, the priority of COVID-19 vaccination has squeezed the vaccination of routine vaccines in a short period of time, such as vaccination doctors' work energy guarantee, storage and distribution of cold storage at the vaccination terminal.
, while operating income increased, net profit dropped sharply , mainly affected by two factors: the increase in R&D expenses and the decline in financial asset prices. Company has increased its efforts in the research and development and clinical trials of new products, new projects, especially mRNA COVID-19 vaccines, resulting in a R&D expense of 621 million yuan during the reporting period, an increase of 252.13% year-on-year.
annual report shows that Watson Bio spent 326 million yuan on for research and development on mRNA vaccine, accounting for 52% of the total R&D expenses in 2021.
Everbright Securities Lin Xiaowei and other analysts said in a research report released on March 22 that Watson Bio signed an agreement with Shengnuo Bio in April 2021 to cooperate in the development of siRNA drugs against the general influenza virus ; in August 2021, it signed an agreement with Lanque Bio to cooperate in the development of influenza virus mRNA vaccine and respiratory syncytial virus mRNA vaccine. The layout of global cutting-edge siRNA and mRNA vaccine technologies will further enrich the company's R&D technology route and lay a solid foundation for long-term development.
According to profit forecasts and valuation estimates, the year-on-year growth rate of the company's net profit this year is 180.23% , and the year-on-year growth rate of the net profit next year will drop to 56.34%.
