Goldman Sachs: Maintaining Hanson Pharmaceuticals's (03692) “Buy” rating with a 12-month target price of HK$52.7

The Zhitong Finance App learned that Goldman Sachs released a research report saying that Hanson Pharmaceuticals (03692) recently published data from the China Phase III study of the B7-H3 antibody-conjugated drug (ADC), showing statistically significant and clinically significant overall survival (OS) benefits in treating recurrent small cell lung cancer (SCLC). The median OS was 18.5 months versus 10.3 months, and the risk ratio (HR) was 0.46. The bank maintained a “buy” rating for Hanson Pharmaceuticals, with a target price of HK$52.7 for 12 months.

Goldman Sachs pointed out that the results are encouraging. It is expected that the best OS benefits recorded in second-line SCLC standard treatments and competitive drug candidates so far, will support its regulatory approval in China, and have strong reference significance for GSK's global research. The bank believes that future discussions in the market will shift from whether Ris-Rez is effective to the extent that its benefits can be extended to the widest extent, and that the expansion of first-line treatments and additional indications will be the key to influencing the potential for eventual commercialization.