JPMorgan Raises SKB BIO-B (06990) Target Price to HK$545, Reiterates "Overweight" Rating

Stock News11-25

JPMorgan has issued a research report expressing a more optimistic outlook on SKB BIO-B (06990), raising its revenue forecasts for 2025–2033 by 1%–10% and increasing the target price from HK$499 to HK$545. The bank continues to list the company as a top pick in China's biopharmaceutical sector, reiterating an "Overweight" rating, citing multiple expected catalysts in 2026.

SKB BIO-B recently released data from its Phase III clinical trial in mainland China for SKB264 (sac-TMT), showing positive progress. According to the report, this marks not only the first successful Phase III trial for sac-TMT in first-line non-small cell lung cancer (NSCLC) treatment but also the first global Phase III trial demonstrating that an ADC+PD-1 combination therapy outperforms PD-1 monotherapy in NSCLC. Based on these results, the company plans to submit a supplemental New Drug Application (sNDA) in China for sac-TMT targeting this indication.

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