HK Stock Market Move | DUALITYBIO-B(09606) rises over 9% as DB-1311 combined with Pumitamig WCLC abstract disclosed, first-line SCLC ORR reaches 92.3%

DUALITYBIO-B(09606) rose over 9%, up 8.48% as of press time, at HK$183, with a turnover of HK$165 million. On the news front, the World Conference on Lung Cancer (WCLC) updated Phase Ib/II data for B7-H3 ADC BNT324/DB-1311, jointly developed by DualityBio and BioNTech, in combination with the PD-L1VEGF-A bispecific antibody Pumitamig for the treatment of advanced lung cancer: as of July 7, 2026, among 71 evaluable small cell lung cancer (SCLC) patients, the overall objective response rate (ORR) was 70.4%, including 92.3% in first-line, 77.3% in second-line, and 52.4% in third-line and beyond. UBS previously noted that DB-1311 (B7-H3 ADC) is expected to become the main valuation DRIVE, forecasting peak sales of RMB 38.3 billion, above the market consensus of RMB 28.6 billion. The bank believes the market has not fully priced in upcoming key data, including proof-of-concept data for DB-1311 in combination with PD-L1/VEGF bispecific antibody in lung cancer (2026 WCLC) and non-lung cancer (2026 ESMO), as well as the global Biologics License Application (BLA) submission for HER2 ADC (DB-1303).