CMB Securities: First Giving Three Pharmaceuticals(01530) a "Strong Buy" Rating PD-1/VEGF Bispecific Antibodies Lead to Value Reevaluation.

According to the Wisdom Finance app, CMB Securities released a research report stating that it gives a "strong recommendation" rating to Three Lives Pharmaceuticals (01530) for the first time. PD-(L)1/VEGF dual antibody is the core drug of the next generation of IO therapy, and the SSGJ-707 molecule design is unique with early clinical data showing BIC potential. Pfizer's $1.4 billion upfront payment + up to $4.8 billion milestone payments + $100 million in share subscription to obtain global rights, fully recognize the potential of the 707 molecule and the company's research and development capabilities. With Pfizer's rapid progress in multiple global clinical trials and the opening of more ADC combination clinical trials in the future, the company's valuation space is expected to continue to expand. The company's performance base is stable, and the product pipeline is orderly with ample long-term growth momentum.