Investor Presentation: Friday New Economy Webcast: Biopharma Moonshot #1 – The Underappreciated RAS Portfolio; May China Healthcare Trip; ASCO Preview and Catalysts

Research evidence excerpt

Investor Presentation: Friday New Economy Webcast: Biopharma Moonshot #1 – The Underappreciated RAS Portfolio; May China Healthcare Trip; ASCO Preview and Catalysts

UpdateM

ASCO 2026 – Key Catalysts to Watch

• Kelun's OptiTROP-Lung05 represents one of the most-important catalysts with potential to establish TROP2 ADC combos as new

standard of care.

• CSPC/Alphamab's KN026 Phase III readout and B7H3 ADC data offer dual catalysts that could give us more confidence in domestic

sales recovery from 2027 and incremental BD potentials.

• 3SBio benefits from read-across of Akeso/Summit's HARMONI-6 plenary data for PD-1/VEGF bispecific. We also watch for its Phase II

data in its monotherapy study for NSCLC.

• Hengrui's HRS-4642 KRAS G12D poster provides first clinical validation for Chinese RAS assets versus global peers.

• Fosun/Henlius’s HLX43 will have updated Phase I/II NSCLC data with PFS data for squamous, non-squamous and EGFR wild-type

and mutant subgroups, from a near-200 patient databased.

• SBP will have data readout for PD-L1+anlotinib in 1L NSCLC (LBA) and EGFR/c-MET ADC in FIH trials.

Key Pharma Catalysts to Watch

Company Asset Presentation type Indication Importance Surprise

3SBio HARMONI-6 read-across Plenary 1L nsq NSCLC w/chemo vs. tislelizumab+chemo Very High Modest Upside

3SBio SSGJ-707 (PD-1/VEGF) Oral 1L monotherapy NSCLC High In-line

CSPC SYS6043 B7H3 ADC Oral FIH data in solid tumors High Modest Upside

CSPC KN026 HER2 bsab LBA Ph3 HER2+ BC High Modest Upside

Fosun/Henlius HLX43 (PD-L1 ADC) Oral NSCLC High In-line

Combo with adebrelimab (PD-L1) in previously

Hengrui HRS-4642 KRAS G12D Poster High In-line

treated patients with metastatic PDAC

Kelun/Kelun Biotech Sac-TMT+Keytruda Oral OptiTROP-LUNG05 - 1L PD-L1-positive NSCLC Very High Modest Upside