Catalyst Preview: What‘s Ahead?

研报英文原文证据摘录

Catalyst Preview: What‘s Ahead?

IdeaAlphaSignalsMCatalyst Event Preview

Company / Catalyst Date Importance Surprise

Abbisko Cayman Ltd 2256.HK

ABSK043 (oral PD-L1) China Ph2 data in

3Q26 Neutral In-line

EGFRm/PD-L1+ NSCLC (+firmonertinib)

Takeaways:

• For the primary use case in PD-L1-high (TPS ≥50%), we see the benchmark to beat as ORR of 67-70%

and PFS of c.10-12mo per osimertinib monotherapy studies...

• ...where a clean safety profile with limited ILD would be a targeted edge; prior pretreated patient data

suggested no DLT/ILD/Gr4-5 TEAE; could compare favorably against osimertinib (mono/combo).

• PD-L1-high patients constitute c. 16% of EGFRm disease and competitive data could define a

biomarker-led segment.

• Key caveat remains likely limited follow-up and small sample size and durability signal to substantiate

PoC; expectation thus is likely lower for this data print.

Duality Biotherapeutics Inc 9606.HK

DB-1303/BNT323 (HER2 ADC) Ph1/2

combo data in 1L HER2+ BC (+BNT327)

• Efficacy: We look to compare early efficacy against 1L benchmark DB09 with ORR of 85% and PFS of

40.7mo.

• Safety: DB09 T-DXd+pertuzumab Gr3+ TRAE/disc. rate/ILD was 55%/21%/12%; we also look to

examine toxicity load from ADC-specific and VEGF-driven AEs.

• Caveat: We expect the data cut to be early and response- and safety-led, with PFS, CNS and subgroup

durability likely immature.

• Opportunity set: Lower ILD or discontinuation could support a 1L subset while validating HER2 ADC

+PD-L1/VEGF combinations as a broader multi-tumor backbone.

• Expectation: We see measured expectations; synergistic ORR/CR and balanced ADC/VEGF safety are

more likely to be assessable than comparative durability.

HUTCHMED (China) Ltd 0013.HK

Savolitinib (cMET) Ph3 global SAFFRON