摩根大通指，康方生物(09926.HK) 去年收入略低于该行预期，但该行认为市场对其去年销售期望本就不高，因公司重点在于确保AK104和AK112被纳入国家医保药品目录，而非去年下半年的商业化。更重要的是，市场焦点仍集中在关键催化剂上：即HARMONi-2试验（AK112对比Keytruda）的潜在初步总生存期数据，今年中AK112在全球首个三期HARMONi试验的无进展生存期及总生存期数据，HARMONi-6试验(AK112+化疗对比替雷利珠单抗+化疗，用于一线鳞状非小细胞肺癌)的数据解读，以及AK112和AK104在纳入国家医保药品目录后的今年销售表现。
该行表示，虽因去年下半年销售低于预期而下调对公司今年的销售预估，但该行相信AK112和AK104高度差异化的疗效和安全性，将有助于扩展适应症并推动销售增长。该行对康方生物目标价由76元上调至88元，重申“增持”评级。(fc/w)(港股报价延迟最少十五分钟。沽空资料截至 2025-04-02 12:25。)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.