Ascentage Pharma initiated with an Overweight at JPMorgan

JPMorgan analyst Yang Huang initiated coverage of Ascentage Pharma (AAPG) with an Overweight rating and HK$52 price target The company’s Olverembatinib, having been approved for three CML – chronic myeloid leukemia – indications in China, is a de-risked asset currently undergoing global trials and could be launched in the U.S. as early as 2027 by Takeda (TAK), which has gained exclusive option to this asset’s ex-China rights, the analyst tells investors in a research note. Ascentage’s lisaftoclax is also nearing commercialization, with an NMPA decision for CLL/SLL expected to come through later this year, the firm states, adding that the two programs are “highly differentiated assets” with best-in-class potential, underpinning the company’s growth in the short-to-medium term.