Key Takeaways:
Guojin Securities maintained its “Buy” rating for Kangfang Bio (09926), citing strong commercial sales and the global potential of its key drugs after the company posted 3.06 billion yuan in 2025 revenue.
"The company's core products are undergoing rapid commercial volume growth and have the potential to lead the global iteration of clinical drug use," Guojin Securities' analysts said in a note on April 7.
The endorsement follows Kangfang Bio’s 2025 results, which saw product sales revenue climb 51 percent year-over-year to 3.03 billion yuan. The growth was driven by the inclusion of core products Cardonili and Ivosi in China's national medical insurance directory. Guojin now forecasts net profit of 0.4 billion yuan in 2026 and 1.3 billion in 2027, a revision from previous estimates of 0.5 billion and 1.8 billion yuan respectively. The firm also initiated a 2028 net profit forecast of 1.9 billion yuan.
Kangfang Bio's international strategy is advancing, with its partner SMMT conducting five Phase III international trials for the dual-antibody drug Ivosi. The drug is under review by the U.S. Food and Drug Administration for treating a type of non-small cell lung cancer (nsq-NSCLC), positioning it to potentially become the first Chinese-developed dual-antibody drug approved in the U.S.
The company is also advancing a Phase III trial for its Cardonili therapy as a first-line treatment for gastric cancer, directly comparing it against the established Nivolumab therapy.
The positive analyst coverage underscores growing confidence in Kangfang Bio's ability to transition from domestic success to the global stage. An FDA approval for Ivosi would be a major validation of its research platform and open the lucrative U.S. market, representing a significant catalyst for the stock.
This article is for informational purposes only and does not constitute investment advice.
