HK Stock Movement | SKB BIO-B (06990) Rises Nearly 5% in Early Trading as SKB264 Phase III Trial Data Shows Positive Results; JPMorgan Raises Revenue Forecast

Stock News11-25

SKB BIO-B (06990) surged nearly 5% in early trading, reaching HK$469.6 with a turnover of HK$158 million by the time of reporting. The company recently released positive Phase III clinical trial data for SKB264 (sac-TMT).

JPMorgan noted in a research report that this marks not only the first successful Phase III trial of sac-TMT as a first-line treatment for non-small cell lung cancer (NSCLC) but also the first global Phase III trial demonstrating that an ADC+PD-1 combination therapy outperforms PD-1 monotherapy in NSCLC.

Based on the results, the company plans to submit a supplemental New Drug Application (sNDA) for sac-TMT in China. JPMorgan expressed increased optimism, raising its revenue forecasts for 2025–2033 by 1%–10% and lifting the target price from HK$499 to HK$545.

With multiple catalysts expected in 2026, the bank continues to rank SKB BIO-B as a top pick in China's biopharmaceutical sector, reiterating an "Overweight" rating.

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