CICC International: Raised target price of Kangnaoya to HK$78, accelerated market penetration of core products in the first half of the year.

Guangfa International released a research report stating that in the first half of the year, Canyoma's core product market penetration has accelerated with a differentiated layout. The commercial performance of its Sirp monoclonal antibody in the first complete half-year was excellent, and the TSLP/IL-13 dual antibody is expected to become the next heavyweight single product in the field of immune-oncology, focusing on nasal indications. The bank also pointed out that Canyoma, leveraging its strong clinical development execution capability and significantly differentiated multiple technology platforms, is gradually forming a diversified product matrix across technology paths and disease areas, expanding from immune-oncology and oncology to more high-potential therapeutic areas.