Sunvozertinib Data at ASCO Reinforces FURVENT Setup; Control Lands in Line with Expectations

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Sunvozertinib Data at ASCO Reinforces FURVENT Setup; Control Lands in Line with Expectations

May 29, 2026 Arrivent Biopharma, Inc

(AVBP, Buy, $42 PT)

Jeet Mukherjee, Ph.D

Sunvozertinib Data at ASCO Reinforces FURVENT Setup; Control Lands (332) 400-5178 jmukherjee@btig.com

in Line with Expectations Blake Gitler

(212) 527-3540 bgitler@btig.com

WHAT YOU SHOULD KNOW: AVBP stock is up ~11% today following full ph 3 WU- Company DataBIOTECHNOLOGY KONG28 results for sunvozertinib in 1L ex20ins NSCLC presented in a late breaking Closing Price $26.97

abstract showing a 10.3-mo mPFS for sunvo vs. 7.5-mo mPFS for chemo. The key

Price Target $42.00 data point here is the chemo control arm performance, which provides a solid proxy

for the control arm for AVBP's FURVENT trial, mitigating some investor concerns Market Cap (M) $1,213.65

Shares Out (M) 45.00EQUITY around FURVENT's control arm out performance. Firmo's ph 1b FAVOUR efficacy

profile tracks above what sunvo showed in its ph 3, and sunvo's reasonably clean ph 2 Avg Daily Vol-3 Months (M) 0.5

to ph 3 translation gives us confidence in FURVENT's outcome. We maintain our high Revisions

expectations headed into the mid '26 readout.

Previous Current

■ Sunvo's Ph 3 Leaves Our FURVENT Bar Unchanged: Sunvozertinib (ZEGFROVY) Rating Buy Buy

is an oral, irreversible EGFR TKI approved in the US and China for platinum- Price Target $42.00 $42.00RESEARCH pretreated ex20ins NSCLC, and despite holding FDA approval, has remained broadly

CY26E REV 0.00 0.00 unavailable domestically. Pts have largely had to travel to China to access it, a

dynamic we flagged in our recent KOL call. In March, Dizal (688192.SH, Not Rated) CY27E REV 52.80 52.80

announced positive top line WU-KONG28 results, and today at ASCO presented CY26E EPS (3.91) (3.91)