UBS: First corning Jereh Pharma-B (9966.HK) buy rating with a target price of HK$29.6

UBS published a research report giving Corning Jereh Pharma-B (9966.HK) a buy rating with a price target of HK$29.6. According to the report, the company has four candidate innovative antibody drugs in the clinical or near-commercial stage, and has a global forerunner advantage in the development of bispecific antibodies (bsAbs). Its KN046 and KN026 products are in the final testing phase and are expected to be launched in 2023 and 2024 respectively.

According to the report, the company's KN046 may be the world's first subcutaneous injection of PD-L1 monoclonal antibody, which is more convenient than intravenous (IV) PD-(L) 1 - on the market, and has submitted a new drug application, which is expected to debut in the fourth quarter of this year. The bank expects its risk-adjusted peak sales to reach RMB7.5 billion, and its risk-adjusted market value is expected to be 1.8 times higher than its peers' risk-adjusted market value, which does not reflect the value of its assets and its strong independent research and development capabilities.

This article originated from Grand Gateway