On June 29, Kelun-Biotech rose 7.18% in regular trading, trading at HK$446.6/share, with turnover of HK$334 million. The rally was driven by continued catalysis from the company's landmark Phase III clinical data presented at ASCO 2026, combined with broad-based strength in the biotech sector.

The company's core product sac-TMT demonstrated significant progression-free survival improvement in the OptiTROP-Lung05 study when combined with pembrolizumab for first-line treatment of PD-L1 positive NSCLC, representing the first ADC plus immunotherapy combination to achieve a positive Phase III result in this setting. Multiple brokerages have issued bullish calls: Nomura raised its target price to HK$544.42 maintaining a Buy rating based on improved sales prospects, while Industrial Securities initiated coverage with an Overweight rating, projecting revenues of RMB 3.587 billion to RMB 6.712 billion from 2026 to 2028. The broader biotech sector rallied in tandem, with AKESO up 10.5%, Innovent Bio up 6.52%, and TransThera-B up 30.66%.

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