Zhi Tong Cai Jing·2025-08-15 01:37Group 1 - The core viewpoint of the report is that the company maintains its profit forecast for Rongchang Biologics, predicting losses of 915 million yuan for 2025 and 333 million yuan for 2026, while highlighting the positive results of the Phase III clinical trial for Taitasip and the approval of RC148 for Phase II trials in the U.S. [1] - The company announced on August 13 that Taitasip, a dual-target fusion protein for treating primary Sjögren's syndrome (pSS), has met its primary endpoint in Phase III clinical trials and will soon submit a marketing application to the National Medical Products Administration (NMPA) [2] - Taitasip has shown significant potential in improving clinical symptoms for pSS patients, with Phase II data indicating a 4.3-point reduction in the ESSDAI score compared to baseline after 24 weeks of treatment, outperforming placebo [3] Group 2 - RC148, a novel PD-1/VEGF bispecific antibody, has received FDA approval for Phase II clinical trials in the U.S. for various advanced solid tumors, indicating its entry into global clinical development [4] - RC148 is also progressing smoothly in clinical studies in China, with good efficacy and safety observed in earlier trials, and has been proposed for inclusion as a breakthrough therapy by the CDE for specific indications [5]