Jefferies: Executive Increase Holdings Demonstrates Confidence in Development CS2009 Clinical Data Shines and Establishes Expectations for BD Maintains Buy Rating on CSPC Pharmaceutical Group Limited-B (02616.HK)

According to the Wise Finance APP, Jefferies released a research report stating that the management of Chi-Med (02616.HK) planned to increase their holdings, confirming the company's confidence in the pipeline authorization negotiations. The core asset of the company, CS2009, has outstanding differentiation advantages: low incidence of VEGF-related adverse reactions, significant optimization of CTLA-4 target safety, and excellent efficacy in NSCLC (non-small cell lung cancer) and cold tumor indications. The company plans to initiate multiple global multicenter Phase III pivotal clinical trials by the end of 2026 (covering non-small cell lung cancer and colorectal cancer), supporting the global market application and external business authorization of the product. The bank is optimistic about the commercialization and authorization potential of CS2009, maintaining a "buy" rating for Chi-Med, with a target price of 20 Hong Kong dollars, representing a 298% increase from the current price.