Morgan Stanley favors the gastrointestinal tolerability of gastric cancer drug IBI343, while considering that CMG901 may benefit patients with lower target expression and expand its market; data in other cancers also present trade-offs between efficacy and safety.
Bernstein believes Imdelltra’s first-line maintenance data could significantly expand its commercial opportunity; INT strengthens the outlook for postoperative adjuvant treatment, while new lung cancer combinations raise the competitive bar. But the commercial value of efficacy improvements must also be assessed against toxicity, treatment duration and the patient population.
Nomura reviewed the ESMO 2026 clinical results: Innovent’s IBI343, Akeso’s ivonescimab and Kelun-Biotech’s sac-TMT improved overall survival in specific indications; the benefits in some other trials were mainly reflected in delayed disease progression, and the maturity of overall survival data is key to understanding the results.
