资料显示，天演药业公司(纳斯达克股票代码:ADAG)是平台驱动并拥有自主平台产出的临床产品开发阶 段的生物制药公司,公司致力于发现并开发以原创抗体为基石的新型癌症免疫疗法。借助计算生物学和 人工智能相结合的强大平台,公司研制出高安全性和有效性的新型抗体,为更多癌症患者带来了福音。公 司的抗体发现引擎——"动态精准抗体库"(Dynamic Precision Library),正在推动天演药业的产品管线开发, 致力于打造潜在的全球创新或同类最佳型产品。 本文源自：金融界 8月5日，天演药业(ADAG)盘中上涨2.36%，截至21:52，报1.96美元/股，成交217.0美元，总市值9232.53 万美元。 财务数据显示，截至2024年12月31日，天演药业收入总额10.32万美元，同比减少99.43%；归母净利 润-3342.41万美元，同比减少76.41%。 作者：行情君 ...

7月30日，天演药业(ADAG)盘中上涨5.03%，截至22:06，报2.09美元/股，成交2.37万美元，总市值 9845.90万美元。 财务数据显示，截至2024年12月31日，天演药业收入总额10.32万美元，同比减少99.43%；归母净利 润-3342.41万美元，同比减少76.41%。 资料显示，天演药业公司(纳斯达克股票代码:ADAG)是平台驱动并拥有自主平台产出的临床产品开发阶 段的生物制药公司,公司致力于发现并开发以原创抗体为基石的新型癌症免疫疗法。借助计算生物学和 人工智能相结合的强大平台,公司研制出高安全性和有效性的新型抗体,为更多癌症患者带来了福音。公 司的抗体发现引擎——"动态精准抗体库"(Dynamic Precision Library),正在推动天演药业的产品管线开发, 致力于打造潜在的全球创新或同类最佳型产品。 本文源自：金融界 作者：行情君 ...

资料显示，天演药业公司(纳斯达克股票代码:ADAG)是平台驱动并拥有自主平台产出的临床产品开发阶 段的生物制药公司,公司致力于发现并开发以原创抗体为基石的新型癌症免疫疗法。借助计算生物学和 人工智能相结合的强大平台,公司研制出高安全性和有效性的新型抗体,为更多癌症患者带来了福音。公 司的抗体发现引擎——"动态精准抗体库"(Dynamic Precision Library),正在推动天演药业的产品管线开发, 致力于打造潜在的全球创新或同类最佳型产品。 本文源自：金融界 作者：行情君 7月30日，天演药业(ADAG)盘中上涨2.01%，截至21:41，报2.03美元/股，成交2230.0美元，总市值 9563.24万美元。 财务数据显示，截至2024年12月31日，天演药业收入总额10.32万美元，同比减少99.43%；归母净利 润-3342.41万美元，同比减少76.41%。 ...

7月29日，天演药业(ADAG)开盘上涨4.03%，截至21:30，报2.07美元/股，成交1.73万美元，总市值 9751.68万美元。 资料显示，天演药业公司(纳斯达克股票代码:ADAG)是平台驱动并拥有自主平台产出的临床产品开发阶 段的生物制药公司,公司致力于发现并开发以原创抗体为基石的新型癌症免疫疗法。借助计算生物学和 人工智能相结合的强大平台,公司研制出高安全性和有效性的新型抗体,为更多癌症患者带来了福音。公 司的抗体发现引擎——"动态精准抗体库"(Dynamic Precision Library),正在推动天演药业的产品管线开发, 致力于打造潜在的全球创新或同类最佳型产品。 本文源自：金融界 作者：行情君 财务数据显示，截至2024年12月31日，天演药业收入总额10.32万美元，同比减少99.43%；归母净利 润-3342.41万美元，同比减少76.41%。 ...

Core Insights - Adagene Inc. has received FDA feedback on its clinical development plan for ADG126 in combination with Merck's KEYTRUDA for treating microsatellite stable colorectal cancer [2][4] - The company plans to begin patient enrollment for Phase 2 trials in the second half of 2025 [1] Company Overview - Adagene is a clinical-stage biotechnology company focused on developing novel antibody-based cancer immunotherapies using its SAFEbody technology [7][10] - The company's lead program, ADG126, is designed to target regulatory T cells in the tumor microenvironment [10] Clinical Development - ADG126 is currently in Phase 1b/2 clinical studies, with over 150 patients enrolled to date [3][10] - The Phase 2 trial will randomize patients to receive either 10 mg/kg or 20 mg/kg of ADG126 in combination with pembrolizumab, without cycle limitations [7] - The primary endpoint for the Phase 2 trial is overall response rate (ORR), with secondary endpoints including duration of response (DOR), progression-free survival (PFS), and overall survival (OS) [7] FDA Interaction - The FDA has endorsed the exploration of ADG126 at doses significantly higher than other anti-CTLA-4 antibodies, showing a nearly two-fold increase in ORR from 17% at 10 mg/kg to 29% at 20 mg/kg [5][6] - The FDA has agreed with the proposed standard-of-care control arm for the Phase 3 trial, confirming that an ADG126 monotherapy arm is not required [7] Future Directions - The company aims to identify a single optimized dose for the Phase 3 trial, which is a critical step towards obtaining FDA approval [6][7] - Future trials will focus on late-line patients with MSS CRC without liver metastases [7]

Core Insights - Adagene has partnered with ConjugateBio to provide a proprietary antibody for the development of bispecific antibody-drug conjugates (ADCs) [1][2][3] - The ADC market is projected to exceed $30 billion by 2030, indicating significant growth potential in this sector [2] - Adagene will receive an undisclosed upfront payment along with milestone and royalty payments, while retaining all non-ADC rights to the partnered antibody [3] Company Overview: Adagene - Adagene Inc. is a clinical-stage biotechnology company focused on novel antibody-based cancer immunotherapies, utilizing computational biology and artificial intelligence [4] - The company employs its SAFEbody precision masking technology to enhance safety and tolerability in antibody therapeutics, allowing for targeted action in the tumor microenvironment [5] - Adagene's lead clinical program, ADG126, is currently in phase 1b/2 studies for metastatic microsatellite-stable colorectal cancer, showcasing the application of its SAFEbody platform [6] Company Overview: ConjugateBio - ConjugateBio is a privately held biotechnology company specializing in first-in-class bispecific ADCs targeting solid tumors, leveraging advanced linker-payload technologies [8] - The company aims to develop innovative therapeutics across a wide range of cancer indications, indicating a strong focus on addressing unmet medical needs in oncology [8]

Core Insights - Sanofi has made a strategic investment of up to US$25 million in Adagene to support the development of novel antibody-based therapies, particularly focusing on the clinical development of muzastotug (ADG126) for colorectal cancer [3][6] - Adagene will provide Sanofi with muzastotug for a phase 1/2 clinical trial involving over 100 patients to evaluate its safety and efficacy in combination with other anticancer therapies [4][6] - The partnership includes the exercise of an option for a third SAFEbody discovery program, which will utilize Adagene's proprietary technology [5][6] Financial Overview - The proceeds from Sanofi's investment, along with Adagene's existing cash and cash equivalents of US$85.2 million as of December 31, 2024, are expected to fund operations into 2027 [6] Clinical Development - Adagene's lead clinical program, ADG126, is currently in phase 1b/2 studies, targeting metastatic microsatellite-stable colorectal cancer [10] - The SAFEbody technology aims to enhance safety and tolerability in antibody therapeutics by using precision masking to minimize off-target toxicity [9][10] Strategic Collaboration - A representative from Sanofi will join Adagene's Scientific Advisory Board to provide strategic advice on scientific and clinical aspects [7] - The collaboration reinforces the shared vision of advancing ADG126's potential in treating advanced solid tumors [6]

Summary of Adagene (ADAG) Conference Call Company Overview - Adagene is focused on developing bio-better molecules, with its lead program being ADG-126, a masked anti-CTLA-4 therapy targeting microsatellite stable (MSS) colorectal cancer without liver metastasis [3][4] Key Data and Efficacy - At the ASCO conference, Adagene presented updated data showing a confirmed overall response rate (ORR) of 29% for ADG-126 at a dose of 20 mg/kg, with all responses ongoing [9] - The safety profile is reported as manageable, with no patients discontinuing due to adverse events, and less than 20% experiencing grade 3 adverse events [9][10] - In comparison, standard therapies for MSS colorectal cancer show a mid-single-digit response rate and a median overall survival (OS) of around 12 months [5][11] - Competitors like Agenus reported an ORR of 19% and a median OS of approximately 20 months, but with a 34% discontinuation rate due to adverse events [6][9] Safety Profile - The grade 3 adverse events reported were transient and involved immune-related adverse events, with only two cases out of twelve patients in the cohort [20][21] - The cohort also included patients with peritoneal involvement, which was previously excluded [23] Regulatory and Future Plans - Adagene plans to provide an update on regulatory interactions by Q3 2025 and is optimistic about the potential for a safe regimen with a high response rate [18][29] - The company is currently enrolling patients for a combination therapy involving ADG-126, pembrolizumab, and standard care, including patients with liver metastasis [25][26] Market Opportunities - The estimated incidence of MSS colorectal cancer without liver metastasis in the US is around 10,000 patients, while the neoadjuvant setting for stage II and III patients exceeds 100,000 [27] - Adagene is exploring the potential of ADG-126 in other tumor types, leveraging the efficacy of CTLA-4 in various indications [31][32] Pipeline and Future Catalysts - Adagene has preclinical assets, including a HER2 CD3 engager, which is IND ready and could enter clinical trials soon [34] - Upcoming catalysts include updates from the 20 mg/kg cohort, regulatory feedback, and preliminary data from a phase two trial in neoadjuvant colorectal cancer [36][37] Conclusion - Adagene is positioned to make significant advancements in the treatment of MSS colorectal cancer with its innovative therapies and is actively pursuing regulatory approvals and market expansion opportunities [38]

Core Insights - Adagene Inc. is participating in the Jefferies Global Healthcare Conference 2025, highlighting its commitment to investor engagement and communication [1][2]. Company Overview - Adagene Inc. is a clinical-stage biotechnology company focused on developing novel antibody-based cancer immunotherapies, utilizing computational biology and artificial intelligence [3]. - The company has established strategic collaborations with global partners to enhance its SAFEbody precision masking technology, which is at the forefront of scientific innovation [3]. Technology and Pipeline - Adagene's proprietary Dynamic Precision Library (DPL) platform includes NEObody™, SAFEbody, and POWERbody™ technologies, which are designed to improve the safety and tolerability of antibody therapeutics [4]. - The SAFEbody technology specifically addresses safety challenges by masking the binding domain of biologic therapies, allowing for targeted action in the tumor microenvironment while reducing toxicity to healthy tissues [4]. Clinical Programs - The lead clinical program, ADG126 (muzastotug), is a masked anti-CTLA-4 SAFEbody targeting regulatory T cells in the tumor microenvironment, currently in phase 1b/2 studies in combination with anti-PD-1 therapy for Metastatic Microsatellite-stable Colorectal Cancer [5]. - The SAFEbody platform is versatile and can be applied to various antibody-based therapeutic modalities, including Fc empowered antibodies and antibody-drug conjugates [5].

Core Insights - Adagene Inc. announced updated data from its Phase 1b/2 study of ADG126 in advanced microsatellite stable colorectal cancer (MSS CRC) with promising efficacy and safety results [1][2][3] Efficacy - ADG126 in combination with pembrolizumab achieved a 29% confirmed overall response rate (ORR) in the 20 mg/kg cohorts, while the 10 mg/kg cohorts had an ORR of 17% [1][3] - The median overall survival (OS) for the 10 mg/kg cohorts was reported at 19.4 months, with the median OS for the 20 mg/kg cohorts not yet reached [3][4] - All six responders in the 20 mg/kg cohorts remain on treatment, with four patients on study for over forty weeks [1] Safety - The 20 mg/kg Q6W dosing regimen demonstrated fewer than 20% Grade 3 adverse events, with no treatment discontinuations [2][4] - The study indicated a significant reduction in treatment-related toxicities while maintaining a near 30% ORR [2] Study Design - A total of 67 MSS CRC patients with no liver metastases were treated with ADG126 at either 10 mg/kg or 20 mg/kg, in combination with pembrolizumab [2] - The dosing regimens included a loading dose of 20 mg/kg followed by either 10 mg/kg every three weeks or 20 mg/kg every six weeks [2] Future Plans - As data continue to mature, the company plans to discuss the dosing regimen with regulatory bodies for the next phase of clinical development [4]