Core Insights - The company, Jingfang (02595.HK), is a biopharmaceutical firm focused on developing new treatment solutions for tumors, autoimmune, and inflammatory diseases, with a pipeline of eight candidate products, five of which are in clinical development [3][4] Company Overview - Jingfang's core product, GFH925 (fulzerasib), is a newly discovered drug that has received commercial approval in China for treating advanced non-small cell lung cancer (NSCLC), making it the first approved selective KRAS G12C inhibitor in China and the third globally [3][4] - The company is conducting an ongoing Ib/II clinical trial (KROCUS trial) in EU countries to evaluate the potential of GFH925 in combination with cetuximab as a first-line treatment for advanced NSCLC [4] Clinical Development Plans - Jingfang plans to leverage clinical results obtained in Europe to apply for a Phase III clinical trial in the US and Europe, having held an IND pre-meeting with the FDA in February 2025, with plans to initiate the Phase III trial in Q4 2025 [4] - GFH375, an oral bioavailable small molecule inhibitor targeting KRAS G12D, has initiated a Phase I/II clinical trial in China for patients with advanced solid tumors carrying the KRAS G12D mutation, with a key clinical trial expected to start in Q4 2025 [4] Market Potential - The global market for KRAS G12C inhibitors for treating NSCLC is projected to grow from $90 million in 2021 to $464.7 million by 2024, with a compound annual growth rate (CAGR) of 72.8%, and is expected to reach $2.7576 billion by 2033, with a CAGR of 21.9% from 2024 [5] - The market for KRAS G12C inhibitors for treating colorectal cancer (CRC) is expected to grow from $24.5 million in 2024 to $733 million by 2033, with a CAGR of 45.9% starting in 2024 [5] - In the Greater China region, the market for KRAS G12C inhibitors for treating NSCLC is anticipated to grow from $13.1 million in 2024 to $559.8 million by 2033, with a CAGR of 51.7% from 2024 [5]
【真灼机构观点】劲方医药（02595.HK）新股介绍