On July 6, Kelun-Biotech rose 3.31% in regular trading, trading at 514.5 HKD/share, with turnover of approximately 190 million HKD.

The rally was driven by continued institutional endorsement following the company's landmark ASCO data presentation. Nomura raised its target price to 544.42 HKD and maintained a Buy rating, citing improved sales outlook and raising its terminal growth rate assumption to 4.5%. Industrial Securities initiated coverage with an Overweight rating, while CITIC Construction Investment and China Post Securities both assigned Buy ratings. The company's annual general meeting also approved a share buyback authorization of up to 10% of issued H shares, providing additional price support.

The catalysts trace back to the OptiTROP-Lung05 Phase III study results presented at ASCO, showing sac-TMT combined with pembrolizumab significantly improved progression-free survival versus pembrolizumab monotherapy in PD-L1 positive NSCLC patients, with a PFS hazard ratio of 0.35 and 12-month PFS rate of 62.4% versus 29.0%. The broader biotech sector also showed strength, with peers including Remegen up 3.82% and 3SBio up 2.92%.

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