The Zhitong Finance App learned that Conoa-B (02162) rose more than 7% in early trading. As of press release, it rose 4.33% to HK$72.3, with a turnover of HK$102 million.

According to the news, Connoya's results show that in the first three quarters of 2026, the company Spugibimab achieved product revenue of about 660 million yuan, an increase of 227% over the previous year, of which Q3 revenue was about 267 million yuan. With the implementation of medical insurance payments, continued expansion of hospital coverage, and increased contributions to new indications such as atopic dermatitis in adolescents, spoximab is expected to maintain a relatively rapid growth rate.

J.P. Morgan Chase published a report covering Connoah for the first time, giving it an “gain” rating, with a target price of HK$95. The bank believes that as a differentiated Chinese biologics platform, Conoah can seize the immunology market, where penetration is still low, and has room for global oncology to improve. Stapokibart provides valuation support. Greater upward potential comes from Sone-Ve, CM336, and CM512, and its global potential is still underestimated. After the stock price outperformed so far this year, the October pullback provided an attractive entry point.

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