Hansoh Pharma - H: Ris-Rez delivers first Ph3 OS win for B7-H3 ADC class

Research evidence excerpt

Hansoh Pharma - H: Ris-Rez delivers first Ph3 OS win for B7-H3 ADC class

J P M O R G A N Asia Pacific Equity Research

12 July 2026

Hansoh Pharma - H Overweight

3692.HK, 3692 HK

Ris-Rez delivers first Ph3 OS win for B7-H3 ADC class Price (10 Jul 26):HK$31.94

Price Target (Dec-26):HK$45.00

The Ph3 OS success of Risvutatug rezetecan (Ris-Rez, HS-20093) is a major Healthcare

ACpipeline de-risking event for Hansoh and, in our view, one of the company’s most Yang Huang

important clinical achievements year to date. Hansoh announced that Ris-Rez, its (852) 2800 3812

B7-H3-targeted ADC, achieved a statistically significant and clinically yang.huang@jpmorgan.com

meaningful improvement in overall survival (OS) versus topotecan at a J.P.MorganMorganBrokingSecurities(Hong (AsiaKong)Pacific)LimitedLimited/ J.P.

prespecified interim analysis of the pivotal ARTEMIS-008 trial in patients with

Eric Zhao, CFA

advanced or relapsed small-cell lung cancer (SCLC) after platinum-based therapy. (86-21) 6106 6256

Consistent PFS benefit was also observed, with no new safety signals. This eric.zhao@jpmorgan.com

represents the first positive Ph3 study to demonstrate an OS benefit for a B7-H3 SAC Registration Number: S1730524050001

ADC in any tumor type in the world. Hansoh plans near-term discussions with the J.P. Morgan Securities (China) Company Limited

CDE to prepare for a China NDA submission. The validation of Ris-Rez to Derek Choi

demonstrate a hard survival benefit in 2L SCLC will increase its chance to (852) 2800-8744

become a global oncology franchise, given GSK (covered by our EU Pharma derek.c.choi@jpmorgan.com

J.P. Morgan Securities (Asia Pacific) Limited/ J.P.

analyst Zain Ebrahim) in-licensed the ex-China rights to Ris-Rez from Hansoh and Morgan Broking (Hong Kong) Limited