开源证券给予百利天恒买入评级，公司信息更新报告：Iza-bren获FDA授予BTD，加速布局全球市场

Group 1 - The core viewpoint of the report is that Baili Tianheng (688506.SH) is given a "buy" rating due to its promising drug development pipeline and recent FDA designation [2] - Iza-bren (BL-B01D1) has received Breakthrough Therapy Designation (BTD) from the FDA for treating EGFR mutation non-small cell lung cancer (NSCLC) [2] - The company is expected to submit its New Drug Application (NDA) in China soon, with three global registration clinical trials planned to start in 2025 [2] - Baili Tianheng possesses a differentiated ADC platform and globally leading multi-antibody platforms, including First-in-Class (FIC) and Best-in-Class (BIC) pipelines [2]