Damo: Upgraded the rating of Lizhi Bo (09887) to “increase your holdings”, and the target price was raised to HK$93

The Zhitong Finance App learned that Morgan Stanley released a research report saying that the six-month progression-free survival (PFS) ratio announced by WCLC for first-line non-small cell lung cancer (NSCLC), the core asset LBL-024 (PD-L1/4-1BB) for first-line non-small cell lung cancer (NSCLC) is positive, indicating that the early objective response rate (ORR) can be transformed into durability, which is an important clinical milestone for the company. The bank believes that risk-return is now biased positively, and raised the rating from “synchronizing with the market” to “increasing holdings”, and the target price was raised from HK$85 to HK$93.

Next, we will focus on ESMO's October data on LBL-024 in EP-NEC, biliary tract cancer, small cell lung cancer, and LBL-034, as well as the National Drug Administration's approval of LBL-024 at the frontline EP-NEC and above (expected in the first half of 2027), and potential business development progress.