郭思治: 半新股欧康维视(01477.HK)技术上或「跌过龙」 眼科药资产续商业化
香港股票分析师协会副主席郭思治称，半新股欧康维视(01477.HK)在上周五宣布，公司与绿叶制药(02186.HK)的附属公司博安生物合作，双方将携手推进OT-702(阿柏西普生物类似药)的研发及商业化，欧康维视将会获得OT-702在国内的独家推广及商业化的权利。OT-702目前已进入临床III期试验，这也是欧康维视第三款在中国开展III期临床的管线产品，其眼後段管线再获补强。
欧康维视是中国眼科医药平台公司，目前，该公司已拥有眼前及眼後段17种药物资产，建立了完整的眼科药物产品线，其中四种产品已进入中国的III期临床试验。中国有大量的眼科疾病患者，而且由於人口老龄化进程的加快以及糖尿病患者数量与日俱增，令到眼科疾病的患病率不断上升，市场对於相关眼疾药品有极大需求。而欧康维视目前管线当中的几款产品，针对的便是当前眼药市场中患者的痛点，产品上线之後能够对於病症进行有效的治疗。这次欧康维视和绿叶制药的合作，全力推动OT-702的III期临床研究及商业化，早日为中国中老年黄斑性病变患者带来国产好药。
欧康维视上市时期公司业绩处於亏损阶段，而今年上半年亏损及全面开支总额达17.4亿元，仔细研究之下，亏损的增长主要是因与优先股相关的转换期权及购股权公平值的变动，17.4亿的亏损里其实有15亿是来自优先股公允价值的一次性损失。实际公司的经调整亏损及全面开支总额(剔除优先股的公允价值变动损失以及以股份为基础的酬金开支)仅为6,118.5万(其中包含超4,000万的上市费用)。虽然欧康维视生物现阶段的盈利能力尚需时体现，但旗下眼科药物资产正持续迈向商业化阶段，盈利潜力有望在中长线释放，增长憧憬有利支持股价，业务前景乐观。
欧康维视股价走势虽仍疲弱，惟自7月10日上市後之高位43元开始之下跌，至10月30日低位17.9元止计，累积跌幅已达25.1元或58.3%，技术上确有「跌过龙」之感，故只要买盘稍主动，股票该有机会重越20元，不妨适量部署，但以中线持有最可取。
(笔者为证监会持牌人)~
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