On July 20, Kelun-Biotech rose 3.41% in regular trading, trading at HK$514.0/share, with turnover of approximately HK$102 million. The rebound was driven by multiple investment banks raising their target prices and a broad recovery across the biotech sector.

On the news front, JPMorgan raised its target price from HK$535 to HK$648, maintaining an Overweight rating, citing significantly reduced clinical risk following the successful OptiTROP-Lung06 Phase III trial. Goldman Sachs also raised its target to HK$582.95, maintaining a Buy rating, and increased the probability of success for the Lung06 study from 81% to 90%. The stock had previously pulled back for two consecutive sessions following a clinical data-driven 11% surge on July 15, when its TROP2 ADC sac-TMT combined with Keytruda met the primary endpoint in first-line PD-L1-negative NSCLC treatment.

Sector-wide, biotech stocks rallied collectively, with Remegen up 5.84%, Akeso up 3.68%, BeiGene up 3.56%, 3SBio up 3.28%, and Innovent Bio up 3.15%, reflecting improved market sentiment supporting the stock's stabilization.

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