Changes in Hong Kong stocks | Corning Jerry Pharmaceutical-B (09966) rose more than 4% and reached an overseas licensing agreement with Pathos to enable core assets to go overseas

The Zhitong Finance App learned that Corning Jerry Pharmaceutical-B (09966) rose by more than 4%. As of press release, it had risen 4.3% to HK$8.855, with a turnover of HK$8.2356 million.

According to the news, Corning Jerry has granted Pathos an exclusive global development and commercialization license outside of Greater China, and reserves all rights in Greater China. The transaction included a non-refundable down payment of $125 million, combined with a total milestone payment of up to $2,093 million, and high single-digit to double-digit royalty fees based on annual net sales. In addition, the company also obtained a warrant to subscribe for Pathos preferred shares, with a total subscription price of US$62.5 million. It is up to the company to decide whether or not to exercise the rights.

Dongwu Securities released a research report stating that the partner Pathos is an AI-driven precision oncology research and development company with strong capital and rising valuations. Pathos completed Series D financing of US$365 million in May 2025, with a post-investment valuation of about US$1.6 billion. Investors include leading institutions such as NEA and Revolution Growth, and have reached strategic cooperation with AstraZeneca and Tempus AI. The potential value-added space of this exchange, which includes preferred stock subscription warrants, is worth paying attention to.