HK Stock Market Move | SKB BIO-B(06990) rose by nearly 5% in the morning session. SKB264 Phase III clinical trial data are positive. JP Morgan has raised its revenue forecast.

SKB BIO-B (06990) rose by nearly 5% in the morning session, as of the time of writing, it is up by 4.31% at HK$469.6, with a turnover of HK$1.58 billion. On the news front, Kunbo Tai Biotech recently announced data from the third phase clinical trial of SKB264 (sac-TMT), reflecting positive progress. JPMorgan released a research report stating that this is not only the first successful phase three clinical trial of sac-TMT in first-line treatment of non-small cell lung cancer, but also the world's first phase three trial confirming that the combination therapy of ADC+PD-1 is superior to PD-1 monotherapy in the first-line treatment of non-small cell lung cancer. Based on the results, the company plans to submit a supplemental new drug application (sNDA) for sac-TMT for the relevant indications in the domestic market. JP Morgan stated that their view on the company is more positive, raising revenue forecasts for 2025 to 2033 by 1% to 10%, and increasing the target price from HK$499 to HK$545. Due to the anticipation of multiple catalysts in 2026, the firm continues to list the company as a preferred target in the Chinese biopharmaceutical sector, reiterating a "neutral" rating.