DUALITYBIO-B (09606) rose nearly 6% in afternoon trading, up 5.72% as of press time to HK$107.2, with turnover of HK$75,976,500.
On the news front, DUALITYBIO-B recently announced that its directors and senior management have full confidence in the company's long-term value and future development prospects. Based on this confidence, the board of directors has been informed that Dr. Zhu Zhongyuan, Chairman of the Board, Executive Director and Chief Executive Officer, Mr. Zhang Shaoren, Executive Director and Chief Financial Officer, and several other directors and senior management have made voluntary lock-up commitments, agreeing not to initiate or instruct others to conduct any sale or other disposal of shares directly or indirectly beneficially owned by them, including any shares obtained through the exercise of share options during the lock-up period, for a period of six months commencing from October 29, 2026 (i.e., from October 29, 2026 to April 28, 2027, inclusive of both dates).
According to a research report by China Merchants Bank International, the valuation of DUALITYBIO-B is still primarily driven by its B7-H3 ADC asset Elfe-D. The report noted that Elfe-D is expected to become a blockbuster product, supported by emerging efficacy, differentiated safety, and potential first-mover advantage in ADC + IO 2.0 combinations. The latest ESMO update, together with last month's WCLC data, further reinforces this investment thesis, showing encouraging early efficacy in lung cancer and non-lung cancer solid tumors (including SCLC, PROC, HCC and CC), with manageable tolerability.
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