JPMorgan has issued a research report noting that Hansoh Pharma (03692) recently unveiled updated study results for its B7-H3-targeting antibody-drug conjugate (ADC), Ris-Rez, in the treatment of second-line relapsed small cell lung cancer (2L SCLC). The overall survival (OS) outcomes were described as encouraging and comparable to Tam-Peli, a B7-H3-targeting ADC independently developed by MediLink Therapeutics.

Within the comparison, Ris-Rez demonstrated a notably longer median OS, while Tam-Peli may offer a more favorable safety profile. The bank has maintained an "Overweight" rating on Hansoh Pharma with a target price of HK$50. JPMorgan projects that the company's innovative drug sales and licensing revenue will drive a compound annual growth rate of 12% in revenue and 15% in earnings from 2020 to 2030.

Looking ahead, potential catalysts include commercial drug sales, key data readouts from late-stage assets, and additional out-licensing transactions.