CICC maintains a target price of HK$177 for Kangfang Biotechnology (09926.HK) and rates it as "outperform".

Zhixin Finance APP learned that CICC released a research report stating that it maintains a target price of HK$177 for Kangfang Biotechnology (09926.HK) and a "outperform" rating. On September 7th, Kangfang Biotechnology and its partner Summit Therapeutics announced the global Phase III Harmoni study data on ivonescimab for the treatment of EGFR+ non-small cell lung cancer (NSCLC) at the 2025 World Lung Cancer Congress (WCLC), showing a gradually positive trend. The risk trend for overall survival (OS) improved from 0.79 to 0.78, with risk ratios reported in subgroups in North America and Asia of 0.7 and 0.76 respectively, showing good performance. The next catalyst to watch is the results of the Phase II/III head-to-head clinical trial of Harmoni-6 and tislelizumab to be presented at the 2025 European Society for Medical Oncology (ESMO) Congress.