CCB International published a report stating that it is more optimistic about overseas clinical trials of Kangfang Biotech AK112. On February 25, the company's US partner Summit Therapeutics announced that it will launch clinical trials of AK112 in the US. AK112 is a bispecific antibody approved by Kangfang Biotech for lung cancer. This trial will test a combination therapy with Pfizer's multiple antibody drug conjugates. Consistent with the information previously disclosed, Summit Therapeutics plans to release the results of the US phase III clinical trial of AK112 combined with chemotherapy to treat patients with non-small cell lung cancer who have received EGFR-TKI therapy. CCB International lowered its target price for the share from HK$86 to HK$85 to reflect a lower forecast of revenue and a higher forecast of net loss. However, the bank still regards this stock as the first choice and maintains a “outperforming market” rating. The reasons include that the first two key bispecific antibodies have been included in the national medical insurance drug catalogue, which is expected to drive sales growth; rich new drug development pipeline and good clinical progress; and progress in global phase III clinical trials in collaboration with AK112 and Summit Therapeutics.

CCB International published a report stating that it is more optimistic about overseas clinical trials of Kangfang Biotech AK112. On February 25, the company's US partner Summit Therapeutics announced that it will launch clinical trials of AK112 in the US. AK112 is a bispecific antibody approved by Kangfang Biotech for lung cancer. This trial will test a combination therapy with Pfizer's multiple antibody drug conjugates. Consistent with the information previously disclosed, Summit Therapeutics plans to release the results of the US phase III clinical trial of AK112 combined with chemotherapy to treat patients with non-small cell lung cancer who have received EGFR-TKI therapy. CCB International lowered its target price for the share from HK$86 to HK$85 to reflect a lower forecast of revenue and a higher forecast of net loss. However, the bank still regards this stock as the first choice and maintains a “outperforming market” rating. The reasons include that the first two key bispecific antibodies have been included in the national medical insurance drug catalogue, which is expected to drive sales growth; rich new drug development pipeline and good clinical progress; and progress in global phase III clinical trials in collaboration with AK112 and Summit Therapeutics.