Core Insights - Traditional chemotherapy has been the main weapon against cancer, but advancements in targeted therapies and immunotherapies have provided new hope for patients. However, many still face challenges such as drug resistance and treatment bottlenecks. The emergence of bispecific antibodies and antibody-drug conjugates (ADCs) offers renewed optimism for late-stage cancer patients [1][2][3] Group 1: Patient Experiences - A 62-year-old patient diagnosed with late-stage lung cancer experienced significant relief from symptoms after using targeted therapy, but faced disease progression and treatment failure with subsequent therapies. After switching to a bispecific antibody, the patient saw a reduction in pleural effusion and improvement in overall health after just two doses [1] - A 46-year-old patient with late-stage gastric cancer underwent multiple lines of treatment without success until an ADC was introduced. This therapy not only halted gastrointestinal bleeding but also significantly reduced the size of liver metastases after three cycles of treatment, demonstrating the effectiveness of targeted drug delivery [2] Group 2: Treatment Mechanisms - Bispecific antibodies work by activating the immune system while simultaneously inhibiting tumor blood supply, thus broadening the treatment targets and enhancing efficacy against various cancer types [1] - ADCs combine targeted therapy with chemotherapy, allowing for precise delivery of cytotoxic agents directly to cancer cells, resulting in minimal damage to normal cells and improved treatment outcomes [2][3] Group 3: Clinical Considerations - While bispecific antibodies and ADCs represent significant advancements in cancer treatment, they are not suitable for all late-stage cancer patients. A thorough assessment of the patient's health status, tumor type, stage, and genetic factors is essential for developing an appropriate treatment plan [3]

行业研究丨深度报告丨医疗保健 创新药迎来政策、产业和业绩三因素共振 再论创新药估值体系 l 证券研究报告 l 请阅读最后评级说明和重要声明 丨证券研究报告丨 报告要点 [Table_Summary] 当前创新药行业迎来了政策、产业和业绩的三因素共振，有望进入价值重估的新周期。过去"熊 市思维"下的估值方法可能已经不适用于当前，可能需要我们对创新药公司的估值体系进行重 塑。结合当前创新药行业发生的实际变化，本篇报告重新构建了适合当前创新药行业的简易 P/Peak Sales 估值体系，从估值角度上回答了创新药行业上涨的核心逻辑。 分析师及联系人 [Table_Author] 彭英骐 刘长洪 SAC：S0490524030005 SFC：BUZ392 请阅读最后评级说明和重要声明 2 / 28 %% %% %% %% research.95579.com 2 医疗保健 cjzqdt11111 [Table_Title 创新药迎来政策、产业和业绩三因素共振 2] ——再论创新药估值体系 [Table_Summary2] 政策、产业和业绩三因素共振，创新药大有可为 政策端：医药行业属于强监管行业，呈现一定的"政策周期 ...