Incannex Healthcare stock tumbles after filing $100M offering
Investing.com - UBS initiated coverage on 3SBio Inc (HK:1530) (OTC:TRSBF) with a Buy rating and a price target of HK$30.00 on Friday.
The pharmaceutical company, which focuses on haematology and autoimmune diseases, recently secured a significant out-licensing agreement with Pfizer (NYSE:PFE) for its SSGJ-707 (PD-1/VEGF bsAb) product with a total potential deal size of US$6.15 billion.
UBS views this record-making agreement as validation of 3SBio’s research and development capabilities, noting potential upside in SSGJ-707’s overseas peak sales and value from other pipeline assets.
The firm forecasts 3SBio will achieve 11.7% compound annual growth rate in revenue and 12.1% in net profit from 2024 to 2034.
Key upcoming catalysts identified by UBS include potential SSGJ-707 data updates in the second half of 2025, upfront payment revenue booking in the third quarter of 2025, and the initiation of SSGJ-707 overseas clinical trials.
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