HK Stock Market Move | ALPHAMAB-B(09966) rose over 12% in the morning session. KN026 is nearing commercialization and is expected to contribute to additional volume.

ALPHAMAB-B (09966) rose more than 12% in early trading, rising 10.54% as of the time of writing, to HK$ 10.38, with a turnover of HK$ 27.9146 million. On the news front, ConnoGen recently announced that the Phase III clinical study of KN026, a humanized bispecific antibody targeting HER2-positive breast cancer, developed jointly with Jingxin Pharmaceutical, has met its primary endpoint. This signifies the first confirmation in a head-to-head Phase III study in China that the efficacy of the domestically developed HER2 bispecific antibody exceeds that of the "trastuzumab + pertuzumab" dual antibody combination. Soochow previously pointed out that ConnoGen's fastest progressing products, KN026 and JSKN003, have both reached domestic cooperation agreements with CSPC PHARMA. KN026, which was submitted for domestic marketing approval in September 2025 and has received priority review qualification, is intended for HER2-positive gastric cancer patients in the second line. We anticipate that this indication is likely to be approved for market entry in 2026. If approval is granted by June 30, there is a chance to participate in this year's medical insurance negotiations to expedite the volume release of KN026.