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On the evening of April 9th, Kanghong Pharmaceutical issued an announcement stating that the global multi-center clinical trial of Conbercept ophthalmic injection was stopped, which means that its core product, Conbercept, which was highly anticipated by the market, failed to “go out to sea”.
The announcement mentioned that its wholly-owned subsidiary, Chengdu Kanghong Biotechnology Co.
On September 25, 2020, the PANDA trial completed the 36th week primary endpoint visit for all subjects.
However, progress has not been smooth since then.
The announcement stated that since the beginning of 2020, unfavorable factors such as global public health emergencies and changes in the external environment have caused great difficulties and impacts on clinical research.
On April 9, 2021, the PANDA Experimental Science Steering Committee held a special meeting to conduct a mid-term review based on the data generated in the above environment.
Kanghong Pharmaceutical said that after research, it has decided to respect the professional evaluation and recommendations of the Scientific Steering Committee and stop the global PANDA trial.
On March 28 not long ago, Kanghong Pharmaceutical announced that the second trial (KHB-1802) of the Conbercept overseas clinical trial project was suspended in France.
Compaqecept is the core product of Kanghong Pharmaceutical.
In addition to competing for market share, Kanghong Pharmaceutical is eager to explore overseas markets, which also stems from the pressure of medical insurance to cut prices.
In order to promote the progress of overseas trials, since last year, Kanghong Pharmaceutical has also strengthened international multi-center phase III clinical trials through fixed increase.
However, after the French project was suspended, Kanghong Pharmaceutical's stock price fell continuously, and now that global clinical trials have stopped, I don't know how Kanghong Pharmaceutical will perform in the capital market next.
Of course, this year, Kanghong Pharmaceutical has worried more than this.
On March 2, Zhong Jianjun, the vice president, chief financial officer and secretary of the board of directors of Kanghong Pharmaceutical, received a supervisory letter from the Shenzhen Stock Exchange.
It is reported that Zhong Jianjun's illegal operations occurred on February 18 and 19, and the stocks he bought illegally exceeded 470,000 yuan.
After a series of events, I don't know how Kang Hong will spend this eventful spring.
