UBS released a research report stating that AKESO's (09926) core product AK112 (ivonescimab) demonstrates significant potential in indications beyond non-small cell lung cancer (NSCLC). In addition to the 6 indications for NSCLC, the company has initiated 6 additional Phase III clinical trials covering first-line treatment areas including cholangiocarcinoma, triple-negative breast cancer, and pancreatic cancer, making it the broadest indication coverage among similar drugs. UBS reiterated its "Buy" rating and significantly raised the target price from HK$112.1 to HK$197.5. UBS noted that the drug has experienced rapid sales growth since its inclusion in the national reimbursement catalog in January this year, and received approval for a new NSCLC first-line treatment indication in May. The drug is expected to contribute additional revenue growth through the 2025 reimbursement negotiations. UBS has raised AK112's peak sales projections in China and globally to $1.2 billion and $14.6 billion, respectively.