On June 10, Kelun-Biotech rose 3.25% in regular trading, trading at 398.8 HKD/share, with trading volume of 138 million HKD.

On the news front, multiple brokerages recently issued bullish coverage on the company. Nomura maintained its Buy rating and raised its target price to 544.42 HKD, while CITIC Construction Investment also maintained its Buy rating. The core catalyst centers on the companys flagship product sac-TMT (Sacituzumab) III phase OptiTROP-Lung05 study data presented at the ASCO annual meeting, which showed a PFS hazard ratio of 0.35 in PD-L1 positive non-small cell lung cancer patients receiving combination therapy versus pembrolizumab monotherapy, with a 12-month PFS rate of 62.4% vs 29.0%. This marks the first ADC drug globally to demonstrate PFS improvement in PD-L1 positive NSCLC in a Phase III trial. The results were simultaneously published in The Lancet. Nomura raised its terminal growth rate assumption from 4% to 4.5%, reflecting improved sales prospects.

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