Goldman Sachs: Upgraded Ascletis Pharma-B (06996.HK) target price to HK$2.99, ATG-022 competitiveness strengthened.

Wisdom Financial APP learned that Goldman Sachs released a research report stating that Deqi Pharmaceuticals-B (06996.HK) had updated phase II data in unresectable or metastatic gastric cancer (GC) that was encouraging. The company's ATG-022 has been granted breakthrough therapy designation by the National Medical Products Administration Drug Evaluation Center for use in patients with CLDN18.2-positive, HER2-negative unresectable or metastatic gastric cancer or gastroesophageal junction adenocarcinoma (GC/GEJ) for two treatments. Goldman Sachs has raised Deqi Pharmaceuticals' target price from HK$2.61 to HK$2.99 to reflect the strengthened competitive position of ATG-022 in the treatment of gastric cancer, leading to an increase in sales forecasts in the coming years.