3SBIO's stock surged 11.66% during intraday trading on Wednesday, following the release of a positive research report from CICC.
CICC maintained its Outperform rating on 3SBIO with a target price of HK$36.5, implying a 61% upside potential from current levels. The investment bank highlighted the smooth progress of the company's 707 collaboration with Pfizer, which is rapidly advancing overseas clinical trials, including global Phase III trials for NSCLC and CRC. CICC also noted the company's robust R&D pipeline, covering both oncology and autoimmune indications.
While CICC adjusted its 2026 net profit forecast due to timing changes in financial statement recognition for out-licensing revenue, the firm remains optimistic about 707's potential to become a cornerstone next-generation I/O therapy. The report also mentioned recent product approvals and new drug applications that are expected to contribute to future revenue growth.
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