Protac自免赛道

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关注Protac自免赛道积极进展——行业周报
KAIYUAN SECURITIES· 2025-06-08 13:20
Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report highlights the significant progress in the Protac self-immune track, particularly with Kymera's STAT6 degrader molecule KT-621, which has shown complete degradation of the STAT6 target in both blood and skin at doses of ≥50mg. This molecule has the potential to treat Th2 inflammatory diseases and has demonstrated safety and efficacy comparable or superior to Dupilumab [4][11] - The pharmaceutical and biotechnology sector saw a 1.13% increase in the first week of June 2025, outperforming the CSI 300 index by 0.25 percentage points, ranking 17th among 31 sub-industries [5][14] Summary by Relevant Sections Protac Self-Immune Track Progress - Kymera's KT-621 has achieved complete degradation of the STAT6 target, which is crucial for treating Th2 type inflammatory diseases. The early efficacy and safety data are promising, and further data from patient populations are expected in the next 6-12 months [4][11][12] Market Performance - In the first week of June 2025, the pharmaceutical sector increased by 1.13%, with the raw material drug sector showing the highest growth at 2.89%. Other sectors such as blood products and in vitro diagnostics also performed well, while other biological products experienced a slight decline [5][18][20] - The report indicates that the overall market has been on a downward trend since the beginning of 2025, but the pharmaceutical sector has managed to maintain a positive trajectory [14][22] Recommended and Benefiting Stocks - Recommended stocks in the pharmaceutical and biotechnology sectors include: Heng Rui Medicine, East China Medicine, Sanofi Pharmaceutical, and others. In the CXO category, companies like WuXi AppTec and Tigermed are highlighted. The report also lists various companies across different sub-sectors such as traditional Chinese medicine, raw materials, medical devices, and retail pharmacies [5][24]
行业周报:关注Protac自免赛道积极进展-20250608
KAIYUAN SECURITIES· 2025-06-08 08:15
Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report highlights the significant progress in the Protac self-immune track, particularly with Kymera's STAT6 degrader molecule KT-621, which has shown complete degradation of the STAT6 target in both blood and skin at doses of ≥50mg. This molecule has the potential to treat Th2 inflammatory diseases and has demonstrated safety and efficacy comparable or superior to Dupilumab [4][11] - The pharmaceutical and biotechnology sector saw a 1.13% increase in the first week of June 2025, outperforming the CSI 300 index by 0.25 percentage points, ranking 17th among 31 sub-industries [5][14] Summary by Relevant Sections 1. Protac Self-Immune Track Progress - Kymera's KT-621 has achieved complete degradation of the STAT6 target, which is crucial for treating Th2 type inflammatory diseases. The early efficacy and safety data are promising, with further data expected in the coming 6-12 months [4][11][12] 2. Market Performance - In the first week of June 2025, the pharmaceutical sector rose by 1.13%, with the raw material drug sector showing the highest increase of 2.89%. Other sectors such as blood products and in vitro diagnostics also performed well, while other biological products saw a slight decline [5][18][20] 3. Recommended and Benefiting Stocks - Recommended stocks include major pharmaceutical and biotechnology companies such as Heng Rui Medicine, Huadong Medicine, and others across various segments including CXO, research services, traditional Chinese medicine, raw materials, medical devices, and retail pharmacies [5][24]