According to a research report published by Goldman Sachs, Nuochengjianhua's product sales increased 37% year-on-year in the second quarter, which was roughly in line with expectations, due to continued strong growth in the core product obutinib and initial contributions of newly launched tamxitumab and Zurletrectinib. The autoimmune product portfolio is gradually becoming the second growth pillar after hematoma. Looking forward to many catalysts over the next 12 to 18 months, including regulatory milestones such as the approval of obutinib ITP, ICP-332's submission of a new drug marketing application for atopic dermatitis, and the publication of key mesutoclax data. Goldman Sachs raised Nochengjianhua's 2026 to 2028 earnings forecast per share from $0.15, 0.05 and 0.32 to $0.16, 0.08 and 0.37, raised the probability of successful development of ICP-332 and ICP-488 from 70% to 100%, and raised the target price from HK$20.54 to HK$22.71, maintaining a “buy” rating.

According to a research report published by Goldman Sachs, Nuochengjianhua's product sales increased 37% year-on-year in the second quarter, which was roughly in line with expectations, due to continued strong growth in the core product obutinib and initial contributions of newly launched tamxitumab and Zurletrectinib. The autoimmune product portfolio is gradually becoming the second growth pillar after hematoma. Looking forward to many catalysts over the next 12 to 18 months, including regulatory milestones such as the approval of obutinib ITP, ICP-332's submission of a new drug marketing application for atopic dermatitis, and the publication of key mesutoclax data. Goldman Sachs raised Nochengjianhua's 2026 to 2028 earnings forecast per share from $0.15, 0.05 and 0.32 to $0.16, 0.08 and 0.37, raised the probability of successful development of ICP-332 and ICP-488 from 70% to 100%, and raised the target price from HK$20.54 to HK$22.71, maintaining a “buy” rating.