Iza-bren 是全球首创（First-in-class）、新概念（New concept）且唯一进入 III 期临床阶段的 EGFR×HER3 双抗 ADC。近日，iza-bren 用于铂耐药复发上皮性卵 巢癌的临床研究已进入 III 期临床试验阶段并完成首例受试者入组。 截至目前，iza-bren 正在中国和美国进行 40 余项针对多种肿瘤类型的临床试 验，除本次新入组的临床试验外，iza-bren 在非小细胞肺癌、小细胞肺癌、乳腺癌、 鼻咽癌、食管鳞癌、尿路上皮癌等 9 项国内 III 期注册临床试验也处于受试者入组 的阶段。 证券代码：688506 证券简称：百利天恒 公告编号：2025-051 四川百利天恒药业股份有限公司 自愿披露关于 iza-bren（EGFR×HER3 双抗 ADC） 用于铂耐药复发上皮性卵巢癌 III 期临床试验 完成首例受试者入组的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 四川百利天恒药业股份有限公司（以下简称"公司"）自主研发的全球首创 （First-in-class）、 ...

Core Viewpoint - The company, Baili Tianheng, has announced the completion of the first patient enrollment in a Phase III clinical trial for its first-in-class EGFR×HER3 dual-targeted antibody-drug conjugate (ADC), iza-bren, aimed at platinum-resistant recurrent epithelial ovarian cancer patients [1] Group 1 - The Phase III clinical trial for iza-bren is the only one of its kind that has entered this stage globally [1] - Currently, iza-bren is involved in over 40 clinical trials targeting various tumor types in both China and the United States [1] - In addition to the newly enrolled trial, iza-bren is also in the patient enrollment phase for nine domestic Phase III registration clinical trials, including those for non-small cell lung cancer, small cell lung cancer, breast cancer, nasopharyngeal carcinoma, esophageal squamous cell carcinoma, and urothelial carcinoma [1]

本文源自：金融界AI电报 百利天恒公告，全资子公司SystImmune与合作伙伴百时美施贵宝宣布，美国食品药品监督管理局已授 予izalontamab brengitecan（iza-bren）突破性疗法认定，用于既往EGFR-TKI及含铂化疗治疗失败后的 EGFR19外显子缺失或21外显子L858R置换突变的局部晚期或转移性非小细胞肺癌。本次突破性疗法认 定的授予基于公司在中国和美国进行的多项临床试验数据。 ...

Group 1 - The A-share market experienced a strong upward trend on August 18, with the Shanghai Composite Index reaching a nearly 10-year high [1] - The STAR Market Composite Index ETF by Huatai-PB rose by 1.94%, indicating positive market sentiment [1] - The STAR Market Composite Index itself surged by 2.08%, with notable gains from constituent stocks such as Nanxin Pharmaceutical and Shunlian Bio, both increasing by over 20% [1] Group 2 - As of August 18, 2025, the top ten constituent stocks of the STAR Market ETF include companies like Saiwei Technology and Haiguang Information, with varying performance in terms of price changes and trading volumes [2] - The semiconductor industry in China saw a total investment of 455 billion yuan in the first half of 2025, reflecting a 9.8% year-on-year decline, while semiconductor equipment investment grew by 53.4%, highlighting a strategic focus on supply chain autonomy [3] - Major global tech companies are significantly increasing their capital expenditures for AI infrastructure, with Microsoft planning to spend $88.2 billion in the 2025 fiscal year, followed by Google and Meta with substantial increases as well [3][4]

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry [1] Core Insights - The upcoming World Conference on Lung Cancer (WCLC) is expected to showcase significant advancements in innovative drugs, generating new business development expectations [1] - The A-share pharmaceutical index has increased by 3% this week and 25% year-to-date, outperforming the CSI 300 by 0.7% and 18.2% respectively [4][9] - The report highlights the strong performance of the pharmaceutical sector, particularly in innovative drugs, research services, and CXO [10][11] Industry Trends - The WCLC will take place from September 6 to September 9, 2025, in Barcelona, featuring over 1,500 presentations, with a significant number from Chinese researchers [17][18] - Chinese innovation is prominently represented, with over 400 submissions, indicating a shift towards the commercialization of innovative drugs [18][19] Stock Performance - Notable stock performances include a 69% increase for Sainuo Medical and a 94% increase for Paig Biological in the H-share market [4][9] - The report provides a detailed overview of stock performance, highlighting both top gainers and losers in the pharmaceutical sector [9][13] Recommendations - The report suggests a focus on specific sub-sectors, ranking them as follows: innovative drugs > research services > CXO > traditional Chinese medicine > medical devices > pharmacies [10] - Specific stock recommendations include companies like Bory Pharmaceutical, Singlera Genomics, and Innovent Biologics based on various therapeutic angles [11][12]

Core Insights - The core viewpoint of the news is the performance and holdings of the E Fund Healthcare Industry Mixed A Fund, highlighting its recent returns and key stock positions [1]. Fund Performance - The latest net value of E Fund Healthcare Industry Mixed A is 4.7830 yuan [1]. - The fund has achieved a weekly return of 3.57% [1]. - Over the past three months, the fund's return is 44.07% [1]. - Year-to-date, the fund has generated a return of 57.03% [1]. Fund Details - E Fund Healthcare Industry Mixed A was established on January 28, 2011 [1]. - As of June 30, 2025, the fund's total assets amount to 3.944 billion yuan [1]. - The fund is managed by Yang Zhenshao [1]. Top Holdings - The top ten stock holdings of the fund include: - Heng Rui Medicine - Hotgen Biotech - Xinlitai - BeiGene-U - Haizhi Science - Nocren Health-U - Yipinhong - Kelun Pharmaceutical - Shutaishen - Baili Tianheng [1]. - The combined proportion of the top ten holdings is 58.14% [1].

Group 1 - The core viewpoint of the news is the performance and holdings of the Zhongyin Innovation Medical Mixed Fund C, which has shown significant growth in recent months and has a strong portfolio in the healthcare sector [1][3]. - As of August 13, 2025, the latest net value of Zhongyin Innovation Medical Mixed Fund C is 2.1969 yuan, reflecting a growth of 3.87% [1]. - The fund has achieved a return of 15.09% over the past month, ranking 1008 out of 4699 in its category [1]. - Over the last six months, the fund's return is 86.76%, ranking 26 out of 4543 [1]. - Year-to-date, the fund has returned 85.33%, ranking 30 out of 4501 [1]. - The top ten stock holdings of the fund account for a total of 62.83%, with significant positions in companies such as Innovent Biologics (8.33%), Kelun-Biotech (8.15%), and Hengrui Medicine (8.08%) [1]. Group 2 - The Zhongyin Innovation Medical Mixed Fund C was established on October 30, 2020, and as of June 30, 2025, it has a total scale of 2.686 billion yuan [1]. - The fund manager, Zheng Ning, has a background in asset management and has held various positions in the investment industry, including roles at Taikang Asset Management and Zhonggeng Fund Management [2]. - Zheng Ning has been managing the Zhongyin Innovation Medical Mixed Fund C since July 1, 2022, and has also taken on management roles for other funds within the healthcare sector [2].

以最新收盘价计算，科创板平均股价为35.12元，其中股价超100元的有51只，股价最高的是寒武纪。 | 688332 | 中科蓝讯 | 102.74 | 0.07 | 5.27 | 电子 | | --- | --- | --- | --- | --- | --- | | 688084 | 晶品特装 | 102.31 | 3.56 | 7.39 | 国防军工 | | 688326 | 经纬恒润 | 102.01 | 2.32 | 1.26 | 计算机 | | 688167 | 炬光科技 | 100.20 | -3.65 | 6.95 | 电子 | 证券时报·数据宝统计显示，科创板股今日上涨的有394只，下跌的有184只，以收盘价为基准测算，科 创板平均股价为35.12元，其中，收盘价超过100元的有51只，股价在50元至100元之间的有145只，股价 在30元至50元的有162只。 科创板股中，收盘价最高的是寒武纪，今日报收860.00元，上涨1.31%，其次是茂莱光学、百利天恒 等，最新收盘价分别为346.65元、312.56元。 科创板百元股中，今日平均上涨1.54%，具体来看，今日上涨的有40只，涨幅居前 ...

Group 1 - The National Medical Insurance Administration has approved 534 drugs for the basic medical insurance drug list, a significant increase compared to 2024, and established a new commercial insurance innovative drug list with 121 drugs [4] - The biopharmaceutical ETF (159839) has seen a strong performance, with a 2.53% increase on August 13, 2025, and a 1-month cumulative increase of 8.26% [1][4] - Leveraged funds are actively investing in the biopharmaceutical sector, with the latest financing buy amount reaching 2.34 million yuan and a financing balance of 12.62 million yuan [4] Group 2 - The biopharmaceutical ETF has experienced a significant increase in shares, with a growth of 6 million shares over the past year, ranking in the top third among comparable funds [3] - The biopharmaceutical sector remains a key focus in the pharmaceutical industry, with ongoing significant business development (BD) transactions that enhance resource integration and project development [5] - Recent global transactions in innovative drugs indicate a vibrant market, with six key transactions reported, reflecting the active collaboration between domestic and international companies [4]

Group 1 - The core viewpoint is that the expectation of a Federal Reserve interest rate cut is boosting sentiment in the pharmaceutical sector, with the Medical Innovation ETF (516820.SH) rising by 1.04% [1] - Key stocks such as Haisco (002653), Baili Tianheng (688506), and Kanghong Pharmaceutical (002773) saw significant increases of 4.86%, 3.97%, and 3.91% respectively [1] - The U.S. July core CPI rose by 0.3%, slightly exceeding expectations, while inflation for tariff-sensitive goods remained moderate, reinforcing the expectation of a 25 basis point rate cut in September [1] Group 2 - Longjiang Securities noted that despite the typical vacation period for overseas pharmaceutical executives in July and August, there has been a notable acceleration in overseas expansion, with Chinese innovative drugs reaching $30 billion in exports in just one and a half months [2] - The acceleration in overseas expansion is attributed to pressures in the overseas industry and an increase in the "new" content of domestic innovative drugs [2] - The expectation of a weaker U.S. economy and employment data is likely to accelerate the pace of Federal Reserve rate cuts, enhancing global liquidity and benefiting technology stocks, which may provide an opportunity for investors to capitalize on the rebound in core pharmaceutical assets through the Medical Innovation ETF (516820) [2]