ANTENGENE-B (06996) surged nearly 14% in early trading. As of press time, the stock was up 14.18% to HK$6.28, with a turnover of HK$21.1499 million.

On the news front, ANTENGENE-B's ATG-022 recently received breakthrough therapy designation from China's National Medical Products Administration (NMPA) Center for Drug Evaluation for the treatment of CLDN18.2-positive, HER2-negative unresectable or metastatic gastric cancer or gastroesophageal junction adenocarcinoma (GC/GEJ) patients who have received two prior therapies.

BOCOM International issued a research report stating that it has raised ATG-022's mid-to-long term and peak sales forecasts by nearly 30%, upgrading the company's DCF target price to HK$8.8, corresponding to a target market capitalization of approximately HK$6 billion and 2.1 times peak price-to-sales ratio, maintaining a "Buy" rating.

Goldman Sachs indicated that ANTENGENE-B's Phase II data update for unresectable or metastatic gastric cancer (GC) is encouraging. Due to the increased number of patients and extended follow-up time, the firm believes the efficacy/safety profile remains competitive. The firm continues to view median progression-free survival (mPFS) as the main focus for future updates, which could directly impact competitor comparisons and visibility of potential accelerated approval pathways.