The former king of biotechnology stocks, Adichem Biotech (4174), has announced that its cancer drug Adagloxad Simolenin (OBI-822)/OBI-821, developed over 15 years, will officially halt trials. This negative news has led to the stock price plummeting, with it hitting the trading limit again today (25), closing at 38 Yuan, marking a new low since its listing. Investors lament, saying, "What a dream purchase!"

Adichem's stock price soared to 755 Yuan in 2015, but following the failure of phase II clinical trials, the price has steadily declined, dropping below the 100 Yuan mark in 2022. The recent announcement of phase III trial failures has fueled investor panic, leading to consecutive two-day trading limits, pushing the stock to a new low. Regarding the phase III trial failure, CEO Wang Huijun stated that making this decision was not easy and acknowledged the inherent risks involved in drug development, which encompasses both successes and failures.