Caitong Securities: Leading small nucleic acid drug offering starts a racetrack or becomes the main pharmaceutical line for the whole year

The Zhitong Finance App learned that Caitong Securities released a research report saying that in the context of global pharmaceuticals upgrading to precision treatment, small nucleic acid drugs, as third-generation treatments, are expected to become the main line of the year in 2026. Overseas R&D breakthroughs will drive pipeline transactions and domestic mapping, and platform-based companies such as Ruibo Bio-B (06938) focus on RNAi chronic disease treatment. CDMOs and innovative pharmaceutical companies related to the industrial chain are worthy of attention, and they need to be wary of commercialization and production capacity risks.

The main views of Caitong Securities are as follows:

In 2026, micronucleic acid drugs will become the main line of global medicine of the year

In the context of an era where the global pharmaceutical industry is shifting from traditional chemicals and biopharmaceuticals to precise targeted treatments, small nucleic acid drugs, as third-generation therapeutics that can interfere with disease progression at the genetic level, are becoming an important direction for disruptive innovation. 2026 is expected to be a big year for the small nucleic acid racetrack. Biotech leaders such as ArrowHead will contribute POC data for several siRNA pipelines with different targets, which will greatly stimulate the trade of small nucleic acid pipelines at various targets around the world. At the same time, well-known companies in the field such as Ruibo Biotech have also begun to go public intensively. Existing major varieties such as Inclisiran also continue to be released. Small nucleic acid has become the next generation therapy that MNC cannot miss. Looking at the large-scale market (ADC, GLP-1, second-generation IO market, etc.) in the field of innovative drugs in the past, everything was driven by industry trends. The rhythm behind each round of the market is reflected in overseas “breakthroughs in R&D - domestic mapping - breakthroughs in domestic enterprises - export to participate in global competition”. Micronucleic acids are expected to become the main line of medicine throughout the year in 2026.

Ruibo Biotech is a platform company focusing on RNAi chronic disease drug development

Ruibo Biotech was founded in 2007, focusing on the development of RNA interference (RNAi) technology and the industrialization of small nucleic acid drugs. The company has established a small nucleic acid drug research and development platform integrating the entire technology chain, and has built a globally integrated small nucleic acid drug development system. By building a rich siRNA drug pipeline, it covers various diseases such as cardiovascular, metabolic, kidney disease, liver disease, etc., especially in the treatment of chronic diseases.

Investment suggestions: Enter small nucleic acid CDMOs and key raw material manufacturers that meet FDA audit standards, focusing on Chengda Pharmaceutical, Lianhua Technology, Jiuzhou Pharmaceutical, Pharmaceutical Kangde, Gloria Ying, Lanxiao Technology, etc.; innovative pharmaceutical companies: Frontier Biology, Sunshine Novo, Junshi Biotech, Hengrui Pharmaceuticals, Fuyuan Pharmaceuticals, Xinlitai, Maiwei Biotech, etc.

Risk warning: risk of commercialization falling short of expectations; risk of trade friction; risk of production capacity growth falling short of expectations.