Stock Track | ALPHAMAB-B Plunges Despite Positive Clinical Trial Results for Anti-Cancer Drug

Stock Track09-16

Shares of ALPHAMAB-B (09966) plummeted by 7.29% on Monday, September 16th, despite the company's announcement of promising clinical trial results for its anti-cancer drug JSKN003. The stock closed at HK$2.35, down 4.86% from the previous trading day.

Alphamab Oncology reported that the phase 1 study of JSKN003 in Australia showed encouraging efficacy in treating pretreated patients with platinum-resistant ovarian cancer, regardless of HER2 expression levels. Additionally, the phase 1 and phase 2 trials in China demonstrated a promising objective response rate in patients with high HER2 expressing gastrointestinal tumors.

However, investors appeared to have reservations about the drug's commercial prospects and potential competition in the crowded oncology market. Despite the positive clinical results, analysts have pointed out that JSKN003 faces significant hurdles in gaining regulatory approval and achieving widespread adoption, given the already established and highly effective treatments available for various cancer types.

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