Kangfang Biotech (09926) is now up more than 5%. As of press release, it has risen 4.45% to HK$42.25, with a turnover of HK$0.132 billion.
The Zhitong Finance App learned that Kangfang Biotech (09926) is now up more than 5%. As of press release, it has risen 4.45% to HK$42.25, with a turnover of HK$0.132 billion.
According to the news, Kang Fang Biotech announced that the company's application to independently develop the world's first bispecific antibody Edafang (PD-1/VEGF) as a single-line first-line treatment for locally advanced or metastatic non-small cell lung cancer with positive PD-L1 expression has been officially accepted by the China Drug Administration. Currently, Evosi has been approved for 1 indication in the mainland, and 5 phase III clinical studies are ongoing.
Debon Securities previously stated that AK112 was approved for listing in May 2024 to treat locally advanced or metastatic nsQnsCLC for the treatment of EGFR-TKI progression. The overall review took less than 10 months, exceeding expectations. The superposition and readout of K-drug head-to-head data greatly improved AK112's commercialization prospects and the certainty of overseas success. The bank raised the domestic peak forecast by 6 billion yuan and the overseas peak forecast by 3 billion US dollars. The bank believes that the company has the potential to evolve into a first-class biopharma pharmaceutical company in China with international competitiveness, and its current market value is seriously undervalued.