BATS:CNTB Connect Biopharma Holdings Limited
Here is a quick analysis of the CNTB chart and how it runs for whoever is interested in startup stocks. The advisory board of CNTB seems to be solid with Eli Lilly holding roughly 3.5% shares. This is not financial advice, please invest with care!
There was a new news release that Simcere obtained the licensing and collaboration agreement in Greater China. This means the CNTB would receive $21M-121M upfront upon this deal with Simcere and still retain the right to develop and commercialize rademikibart in all other markets (outside of China, HongKong, Macau, and Taiwan). this good news would effectively falsify the analysis I made yesterday. We may see a bullish run on it!
I guess what I predicted was pretty spot on the retracement. This means there are big whales that hold CNTB did spot on the timing with the news. We will continue to see how the market behaves in a couple of days.