Ziyi Chen, an analyst from Goldman Sachs, has initiated a new Buy rating on Keymed Biosciences, Inc. (2162).
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Ziyi Chen’s rating is based on Keymed Biosciences, Inc.’s strategic positioning in the biotech sector, particularly in the field of immunology diseases. The company has successfully launched its first commercial product, stapokibart, which has been approved in China for treating atopic dermatitis, chronic rhinosinusitis, and seasonal allergic rhinitis. This product is notable for being the first domestic IL-4Rα monoclonal antibody, following the well-known dupilumab.
Chen believes that stapokibart’s first-mover advantage in the market provides a strong valuation foundation for Keymed. The product is expected to achieve peak sales exceeding RMB 5 billion by 2035, which underscores its potential as a significant revenue driver. Additionally, there is potential for increased market penetration of biologic treatments for chronic rhinosinusitis and seasonal allergic rhinitis, which could further enhance the company’s financial performance.