HK Stock Market Move | CSTONE PHARMA-B (02616) rises over 6% in the afternoon; institution raises CS2009 asset valuation significantly and greatly increases company's target price.

CSTONE PHARMA-B (02616) rose over 6% in the afternoon, with an increase of 6.73% as of the time of writing, reaching 10.15 Hong Kong dollars, with a turnover of 1.2 billion Hong Kong dollars. On the news front, Foundation Medicine announced at the end of last month that the preliminary efficacy data of CS2009 monotherapy for lung cancer in Phase I/II was positive. The company plans to initiate the first Phase III global multicenter clinical trial (MRCT) of CS2009 by the end of 2026, focusing on indications such as NSCLC, CRC, and SCLC. CMSC International released a research report, raising Foundation Medicine's target price by 131.5%, from 7.3 Hong Kong dollars to 16.9 Hong Kong dollars, while maintaining a "hold" rating. The bank has increased the asset valuation of CS2009, and although there is uncertainty in the future clinical development of this asset, the bank believes that the company's management has a clear research direction and strategic clarity, and there is also potential for deep cooperation with large overseas pharmaceutical companies. CS2009 triple antibodies are expected to break through obstacles.