Jin Rong Jie·2025-12-11 03:57Core Viewpoint - Rongchang Biopharma (09995) experienced a significant stock increase, with a rise of over 7% during trading, closing at 81.5 HKD, with a transaction volume of 310 million HKD, following the presentation of clinical trial data for its PD-1/VEGF bispecific antibody RC148 at the ESMO-IO conference in London [1] Group 1: Clinical Trial Data - The clinical study (RC148-C001) for RC148, a PD-1/VEGF bispecific antibody, was presented at the ESMO-IO conference, showing promising results for treating non-small cell lung cancer [1] - The study reported an overall response rate (ORR) of 66.7% and a disease control rate (DCR) of 95.2% for the RC148 20 mg/kg Q3W combined with docetaxel treatment [1] - Among PD-L1 positive patients (TPS≥1%), the ORR reached 80%, with a median follow-up time of approximately 7 months and a median progression-free survival (mPFS) of 8.3 months [1] Group 2: Regulatory Approvals and Market Potential - RC148 received FDA approval in August to initiate a Phase II clinical trial in the United States, marking its entry into global clinical development [1] - The drug has also been approved in China for clinical research in monotherapy and combination therapy for advanced solid tumors [1] - The increasing global business development (BD) activity in the PD-1/VEGF space, with companies like CanSino Biologics and 3SBio leading the way, indicates strong market potential for RC148 [1]