JA International: Maintain a "buy" rating on Kangfang Bio (09926) with a target price of HK$115.

Wisdom Finance APP learned that CICC International released a research report stating that it is optimistic about Kang Fang Biological (09926) and maintains a "buy" rating with a target price of HKD 115. The bank maintains its forecast of peak sales of RMB 6.1 billion for Envoys in mainland China and overseas. The company announced that the mainland China listing application for Envoys' monoclonal antibody treatment of 1L PD-L1-positive NSCLC has been approved, earlier than expected. At the same time, the first interim analysis results of the Phase III AK112-303/HARMONi-2 study were announced: HR value of 0.777, reducing the risk of death by 22.3%.