The Zhitong Finance App learned that the volume of McPharmaceutical-B (02335) surged 166% on the last trading day, closed up 64% on the same day, and today's stock price fell more than 20%. As of press release, it decreased by 17.50% to HK$19.8, with a turnover of HK$87.3738 million.

According to the news, McPharmaceuticals plans to request the shareholders' meeting to approve a 10-year H share incentive plan to bind the core R&D team, and request the shareholders' meeting to grant general authorization to repurchase no more than 10% of the total number of H shares issued. The board of directors believes that the current market price of H shares does not fully reflect the company's fundamentals and long-term growth potential, and that the current capital is sufficient to support the company's long-term R&D investment in the future.

According to the data, the company's R&D expenditure increased from 107 million yuan in 2024 to 130 million yuan in 2025, an increase of 21.6%, mainly for clinical trials of the core product MT1013 and the key product MT200605. At the same time, McPharma expects its net loss to expand further in 2026 due to the continued burning of money on R&D and increased share payment expenses.

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