生物医药行业创新药动态更新：肺癌ADC药物：TROP2、EGFR×HER3、EGFR、PD-L1 ADC在NSCLC疗效突出，DLL3 ADC在SCLCORR优秀

Investment Rating - The report maintains a rating of "B" for the biopharmaceutical industry, indicating expected volatility greater than the benchmark index [1]. Core Insights - The biopharmaceutical industry has shown significant market performance over the past year, with innovative drug developments, particularly in the area of ADCs (Antibody-Drug Conjugates) for lung cancer treatment [1]. - PD-1/L1 combined with ADCs is expected to overcome resistance and improve overall response rates (ORR), with promising results from various clinical trials [3][4]. - The report highlights specific drugs such as sac-TMT, HLX43, and SYS6010, which have demonstrated significant efficacy and tolerability in treating NSCLC and SCLC [3][5]. Summary by Sections Market Performance - The biopharmaceutical industry has outperformed the market, driven by advancements in innovative therapies [1]. Clinical Trials and Efficacy - In first-line treatment for non-squamous NSCLC, sac-TMT combined with PD-L1 showed an ORR of 59.3% and a median progression-free survival (mPFS) of 15.0 months, compared to 9-10 months for chemotherapy combined with PD-1 [4]. - In second-line EGFR wild-type NSCLC, the ORR for the drug iza-bren was 50.0%, while SYS6010 achieved an ORR of 88.9% in previously treated EGFR-mutant NSCLC [5]. Drug Tolerability - The report notes that the common grade 3 or higher treatment-related adverse events (TRAE) for the mentioned drugs were primarily hematological toxicities, with specific rates of treatment discontinuation due to TRAE being 2.4% for iza-bren [3][5].