ultimatexbonusstreakvideopoker| Kangfang Biotech's decline narrowed in the afternoon, the company denied that clinical data fell short of expectations
editor 2024-05-24 14:14:27 Home 30
Securities Times NewsultimatexbonusstreakvideopokerKangfang Biotech plunged sharply in intraday trading on the 24th, plunging by about 45% at one time. The decline gradually narrowed in the afternoon. As of press time, the stock fell by about 20%, with a market value of about HK$33 billion.
Today, market news said that the Chinese Phase III clinical data of Kangfang Biotech AK112 in the treatment of EGFR-TKi-treated non-small cell lung cancer fell short of expectations.
Subsequently, the company responded that the HR corresponding to AK112 progression-free survival disclosed by the American Society of Clinical Oncology (ASCO) in 2024 reached 0ultimatexbonusstreakvideopoker.46, which is the core data for evaluating clinical study results. The data results are excellent and there is no saying that they are lower than expected. Currently, the data of AK112 -301 has been accepted as an oral report by the 2024ASCO Conference due to its excellent results. According to the organizer's plan, it will be published globally on June 1.
At the same time, the company announced that the State Food and Drug Administration (NMPA) has approved the new drug marketing application of the world's first bispecific antibody drug, Idafone (Evosi injection, PD-1/VEGF) independently developed by the company. The indication is combination chemotherapy for the treatment of locally advanced or metastatic non-squamous non-small cell lung cancer (nsq-NSCLC) with EGFR mutations that have progressed after treatment with epidermal growth factor receptor (EGFR) tyrosine stimulation inhibitors (TKI).
Kangfang Biotech stated that Idafone ® (Ivosec Injection) is the world's first PD-1/VEGF dual-specific tumor immunotherapy drug independently developed by the company. Idarfang ® was approved for marketing by the State Food and Drug Administration of China in May 2024 for the treatment of locally advanced or metastatic nsq-NSCLC that progresses after EGFR-TKI treatment.
At present, ivosic has comprehensively deployed various lung cancer patient populations, and a number of head-to-head studies are under way, such as a Phase III study of single-agent versus pembrolizumab alone in the first-line treatment of PD-L1-positive NSCLC, a Phase III study of combination chemotherapy versus tirellizumab combined with chemotherapy for the first-line treatment of sqNSCLC, and a global multicenter Phase III study of ivosic combined with chemotherapy versus pembrolizumab combined with chemotherapy for the first-line treatment of sqNSCLC. Ivosi is currently undergoing clinical trials covering 16 indications including digestive tract tumors, hepatocellular carcinoma, and colorectal cancer.
After making reasonable inquiries about the Company, the Board confirmed that it is not aware of any other information that may cause unusual fluctuations in the price or trading volume of the Company's shares or that must be published to avoid the emergence of a false market in the Company's securities, or any inside information that is required to be disclosed under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
Kangfang Biotech also warned that the company cannot ensure that the company will ultimately successfully develop and sell Idarfang ® (Ivosi, PD-1/VEGF). Company shareholders and potential investors are advised to exercise caution when buying or selling company shares.
Proofread: Tao Qian