UBS released a research report, saying that after a channel survey, it is believed that the development of CAR-T cancer immunotherapy in China is still in an early stage, and the main treatments are concentrated in first-to second-tier cities with higher affordability.

The bank quoted a doctor who pointed out that in addition to reimbursement, the average cost of patients before receiving CAR-T third-line treatment had reached 200000 yuan, and sales could only increase significantly if the average sales price of 02126.HK CAR-T dropped to between 150000 and 200000 yuan. The bank adjusted its peak sales forecast, lowering its target price from 34.6 yuan to 22 yuan, pointing out that the current valuation was undervalued and reiterating its "buy" rating.