SKB BIO-B (06990) saw its stock price surge 5.06% during Thursday's trading session, following a bullish report from CICC. The investment bank maintained its "outperform industry" rating for the biotech company and significantly raised its target price by 57.1% to HK$550, citing strong licensing revenue recognition, effective cost management, and promising R&D progress.

The company's recent performance has been impressive, with 1H25 results exceeding expectations. Revenue reached 950 million yuan, with its flagship product Sac-TMT (TROP2 ADC) accounting for 97.6% of the 310 million yuan commercial revenue. SKB BIO-B has rapidly expanded its marketing efforts, now covering 30 provinces and over 1,000 hospitals in China, demonstrating strong market penetration for Sac-TMT in its approved indications of triple-negative breast cancer (TNBC) and third-line non-small cell lung cancer (NSCLC).

Investors are particularly excited about SKB BIO-B's near-term catalysts, including potential approval for Sac-TMT in second-line NSCLC later this year and upcoming data presentations at the ESMO conference in October. The company's pipeline also shows promise, with ongoing trials for first-line NSCLC, second-line HR+/HER2- breast cancer, and several early-stage candidates like SKB315 (CLDN18.2 ADC) and SKB410 (Nectin-4 ADC). These developments, coupled with the possibility of inclusion in medical insurance coverage by 2026, suggest strong growth potential for SKB BIO-B, supporting the significant stock price increase observed in the market.