<div id="readability-page-1"><div><ul> <li>CStone Pharmaceuticals announced on 8 December 2025 that its targeted therapy GAVRETO (pralsetinib, 100 mg) has been included in China’s latest National Reimbursement Drug List, which will take effect on 1 January 2026 and broaden reimbursed access for RET-altered lung and thyroid cancer patients.</li> <li>The NRDL inclusion, combined with CStone’s existing commercialization partnership with Shanghai Allist in Mainland China, underscores how alliance-driven distribution is central to expanding GAVRETO’s reach across Greater China.</li> <li>We’ll now examine how GAVRETO’s NRDL inclusion, alongside the Allist commercialization partnership, shapes CStone Pharmaceuticals’ broader investment narrative.</li> </ul><p>Find companies with promising cash flow potential yet trading below their fair value.</p><h2>What Is CStone Pharmaceuticals' Investment Narrative?</h2><p>For CStone, you really have to believe in its transition from a pure R&amp;D story to a commercial-stage oncology player, with sugemalimab and now GAVRETO as key proof points. The NRDL listing for GAVRETO looks like a supportive short term catalyst because it should help convert a niche, high-cost targeted therapy into a more broadly reimbursed option, especially when paired with the Allist commercialization deal in Mainland China. That said, the share price already had a very large run-up this year and the stock still trades on a rich sales multiple, so expectations are not low. The company is loss-making, has raised fresh equity twice in 2025, and consensus profitability is still years away, so execution risk on both commercialization and cost control remains front and center.   But against that optimism sits one issue many shareholders might be underestimating.</p><p> Despite retreating, CStone Pharmaceuticals' shares might still be trading above their fair value and there could be some more downside. Discover how much.</p><h2>Exploring Other Perspectives</h2><figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/56778cc3-6de7-42ae-9dbc-9e00c5b208ed/chart/quote-price?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/56778cc3-6de7-42ae-9dbc-9e00c5b208ed/chart/quote-price"/><figcaption>SEHK:2616 1-Year Stock Price Chart</figcaption></figure> <p>The Simply Wall St Community’s two fair value estimates for CStone span roughly HK$6.92 to HK$21.50, reflecting sharply different views on upside. Set that against the recent NRDL boost for GAVRETO and a history of equity raises, and you start to see why opinions on how sustainable CStone’s progress will be are so far apart. With such dispersion, it pays to weigh several contrasting viewpoints before deciding where you stand.</p><p>Explore 2 other fair value estimates on CStone Pharmaceuticals - why the stock might be worth over 3x more than the current price!</p><h2>Build Your Own CStone Pharmaceuticals Narrative</h2><p>Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.</p><ul><li>A great starting point for your CStone Pharmaceuticals research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.</li><li>Our free CStone Pharmaceuticals research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate CStone Pharmaceuticals' overall financial health at a glance.</li></ul><h2>Searching For A Fresh Perspective?</h2><p>Markets shift fast. These stocks won't stay hidden for long. 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Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><p>Mobile Infrastructure for Defense and Disaster</p><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p><p>Get the investor briefing before the next round of contracts</p><p><span>Sponsored On Behalf of CiTech</span></p></div></div></div>

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<p>CStone Pharmaceuticals announced that its drug GAVRETO has been included in China's National Reimbursement Drug List, effective January 2026, enhancing access for cancer patients. This inclusion, along with a partnership with Shanghai Allist, is seen as a catalyst for CStone's transition to a commercial-stage oncology company. However, despite recent stock gains, concerns about overvaluation and execution risks remain, with differing opinions on the stock's fair value.</p>

GAVRETO’s NRDL Inclusion And China Alliance Network Might Change The Case For Investing In CStone Pharmaceuticals (SEHK:2616)