LEADS BIOLABS-B (09887) saw its shares jump more than 6% in the morning session, trading up 5.73% at HK$57.20 as of the time of writing, with turnover reaching HK$103 million.

On the news front, LEADS BIOLABS-B announced that updated data from its Phase II clinical study of the self-developed investigational drug Wrexin® (Opasutsumab, a PD-L1/4-1BB bispecific antibody) combined with chemotherapy as a first-line treatment for non-small cell lung cancer (NSCLC) were presented in an oral session at the 2026 World Conference on Lung Cancer (WCLC 2026). The updated findings reveal unprecedented high response rates, with nearly identical clinical benefits observed in both PD-L1-negative (PD-L1 tumor proportion score (TPS) <1%) and PD-L1-positive (PD-L1 TPS ≥1%) patients with squamous NSCLC. Meanwhile, patients with non-squamous NSCLC and PD-L1 TPS ≥1% achieved deep and durable tumor responses.

Currently, Wrexin® is being investigated across 14 indications in clinical studies, including one single-arm pivotal registration trial, one confirmatory Phase III study, and nine proof-of-concept trials, spanning multiple major cancer types and "cold tumors".

According to China Post Securities, LBL-024 is on the verge of a domestic launch, with academic conferences set to present updated data on key indications. The NDA for LBL-024 as a later-line treatment for ep-NEC has been accepted and granted priority review, with approval expected in the first half of 2027. The company initiated business development activities in August. The confirmatory Phase III trial of LBL-024 combined with chemotherapy for first-line ep-NEC is expected to begin patient enrollment in the second half of 2026, and data from the Ib/II phase trial will be released at ESMO 2026.