This phase I trial studies the safety, side effects, and best dose of ADG126, in combination with ivonescimab alone, in combination with ivonescimab, leucovorin, and fluorouracil, or in combination with ivonescimab and leucovorin, fluorouracil, and irinotecan (FOLFIRI regimen) in treating patients with microsatellite stable (MSS) colorectal cancer that may have spread from where it first started to nearby tissue, lymph nodes, or distant parts of the body (advanced) or has spread from where it first started (primary site) to other places in the body (metastatic). Immunotherapy with monoclonal antibodies, such as ivonescimab and ADG126, may help the body's immune system attack the cancer, and may interfere with the ability of tumor cells to grow and spread. Ivonescimab may also stop or slow the cancer by blocking the growth of new blood vessels necessary for tumor growth. Leucovorin calcium is a type of drug called a folic acid analog, which means it is similar to the vitamin folic acid. It is used in combination with certain chemotherapy drugs to enhance their ability to kill tumor cells or to lessen their harmful side effects. Fluorouracil is a type of chemotherapy called an antimetabolite, which is a drug that mimics a natural chemical and prevents its use in cells. It interferes with the production of a key component of deoxyribonucleic acid (DNA), which prevents the DNA from copying itself. This causes tumor cells and other rapidly dividing cells to die. Fluorouracil also gets incorporated into ribonucleic acid (RNA) and DNA, disrupting critical cell functions. Irinotecan is in a class of antineoplastic medications called topoisomerase I inhibitors. It blocks a certain enzyme needed for cell division and DNA repair and may kill cancer cells. Giving ADG126 with ivonescimab, with or without leucovorin and fluorouracil or FOLFIRI regimen, may be safe in treating patients with MSS advanced/metastatic colorectal cancer.

开始日期2026-07-21

申办/合作机构

City of Hope National Medical Center

[+1]

NCT06846268

/ Recruiting临床2期IIT

Phase II Trial of Neoadjuvant ADG126 and Pembrolizumab in Locally Advanced Colorectal Cancer

This is a single site, open-label, single-arm phase II study to determine feasibility, tolerability, and preliminary efficacy of neoadjuvant ADG126 and pembrolizumab in stage II or III colorectal cancer.

开始日期2025-04-14

申办/合作机构

National University Hospital

[+1]

CTR20241474

/ Recruiting临床1/2期

一项在晚期/转移性实体瘤患者中进行的 ADG126 联合帕博利珠单抗（抗 PD-1 抗体）的 Ib/II 期、开放、剂量递增和扩展研究

评估 ADG126 在递增剂量水平下与帕博利珠单抗联合治疗晚期/转移性实体瘤成人患者的安全性和耐受性

开始日期2024-07-12

申办/合作机构

天演药业（苏州）有限公司

100 项与 Muzastotug 相关的临床结果

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100 项与 Muzastotug 相关的转化医学

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100 项与 Muzastotug 相关的专利（医药）

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项与 Muzastotug 相关的文献（医药）

2026-03-01·Therapeutic Advances in Medical Oncology

Molecular complete response to the RIN protocol (regorafenib, ipilimumab, and nivolumab) in a patient with advanced recurrent metastatic mismatch repair proficient/microsatellite stable (pMMR/MSS) rectal cancer

Article

作者: Pigazzi, Alessio ; Afghan, Maaz Khan ; Javaid, Sana ; Kasi, Pashtoon Murtaza ; Cardenes, Higinia ; Qadri, Fatima ; Lutfi, Areeb ; Guniganti, Preethi

Rectal cancer recurrence remains a major therapeutic challenge, particularly in patients unresponsive to conventional regimens. Tumors with mismatch-repair-proficient (pMMR) or microsatellite-stable (MSS) status represent the majority of colorectal cancers and are characteristically resistant to immune checkpoint inhibitors. We report a 50-year-old woman with recurrent metastatic KRAS-G12D mutant MSS rectal adenocarcinoma refractory to and with complications to standard chemotherapy regimens who achieved a complete and durable molecular response following initiation of the RIN protocol, a combination of regorafenib, ipilimumab, and nivolumab. A sustained decline in biomarker levels was observed, with both circulating tumor DNA and carcinoembryonic antigen becoming undetectable within 6 months, consistent with a complete molecular response accompanied by a marked interval decrease in FDG-avid disease and sustained radiologic and pathologic remission. This case illustrates the potential for multimodal immune modulation to overcome intrinsic resistance in pMMR/MSS in non-liver metastatic (NLM) colorectal cancer. While previous studies have demonstrated limited benefit of immunotherapy in this tumor subtype, the present findings suggest an emerging therapeutic opportunity that warrants prospective evaluation to confirm efficacy, explore the mechanistic basis, and identify biomarkers predictive of durable response beyond the absence of liver metastases. More effective combinatorial regimens like zanzalintinib and atezolizumb (STELLAR-303) trial, as well as newer generation of CTLA-4 inhibitors like botensilimab, vilastobart, and muzastotug are showing more promise for patients with MSS colorectal cancers in particular who do not have liver metastases (NLM).

160

项与 Muzastotug 相关的新闻（医药）

2026-05-12

·GlobeNewswire-Health Care

Adagene to Participate in Two Upcoming Investor Conferences

SAN DIEGO and SUZHOU, China, May 12, 2026 (GLOBE NEWSWIRE) -- Adagene Inc. (“Adagene or the Company”) (Nasdaq: ADAG), a company transforming the discovery and development of novel antibody-based therapies, today announced that senior management will participate in one-on-one investor meetings and a fireside chat at the Stifel Annual Virtual Oncology Event on May 19-20, 2026 and one-on-one investor meetings at the Jefferies LLC Global Healthcare Conference being held June 2-4, 2026 in New York, NY. Stifel Annual Virtual Oncology Event Format: Fireside Chat and 1x1 MeetingsDate/Time: Tuesday, May 19, 2026, at 2:30 PM (Eastern Time)Webcast: Link here Jefferies LLC Global Healthcare Conference Format: 1x1 meetingsDate/Time: Wednesday-Thursday, June 3-4, 2026 If you are interested in meeting with Adagene management during the conferences, please reach out to your respective conference representative. A webcast of the presentations will be accessible in the Investors section of the Company’s website at https://www.adagene.com for at least 30 days. About AdageneAdagene Inc. (Nasdaq: ADAG) is a platform-driven, clinical-stage biotechnology company committed to transforming the discovery and development of novel antibody-based cancer immunotherapies. Adagene combines computational biology and artificial intelligence to design novel antibodies that address globally unmet patient needs. The company has forged strategic collaborations with reputable global partners that leverage its SAFEbody precision masking technology in multiple approaches at the vanguard of science. Powered by its proprietary Dynamic Precision Library (DPL) platform, composed of NEObody™, SAFEbody, and POWERbody™ technologies, Adagene’s highly differentiated pipeline features novel immunotherapy programs. The company’s SAFEbody technology is designed to address safety and tolerability challenges associated with many antibody therapeutics by using precision masking technology to shield the binding domain of the biologic therapy. Through activation in the tumor microenvironment, this allows for tumor-specific targeting of antibodies, while minimizing on-target off-tumor toxicity in healthy tissues. Adagene’s lead clinical program, muzastotug (ADG126), is a masked, anti-CTLA-4 SAFEbody with FDA Fast Track designation that targets a unique epitope of CTLA-4 in regulatory T cells (Tregs) in the tumor microenvironment. Muzastotug is currently in Phase 1b/2 and Phase 2 clinical studies in combination with anti-PD-1 therapy, particularly focused on microsatellite stable (MSS) metastatic colorectal cancer (CRC). Validated by ongoing clinical research, the SAFEbody platform can be applied to a wide variety of antibody-based therapeutic modalities, including Fc empowered antibodies, antibody-drug conjugates, and bi/multi-specific T-cell engagers. For more information, please visit: https://investor.adagene.com.Follow Adagene on WeChat, LinkedIn and X. SAFEbody® is a registered trademark in the United States, China, Australia, Japan, Singapore, and the European Union. Safe Harbor StatementThis press release contains forward-looking statements, including statements regarding certain clinical results of ADG126, the potential implications of clinical data for patients, and Adagene’s advancement of, and anticipated preclinical activities, clinical development, regulatory milestones, and commercialization of its product candidates. Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including but not limited to Adagene’s ability to demonstrate the safety and efficacy of its drug candidates; the clinical results for its drug candidates, which may not support further development or regulatory approval; the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approval of Adagene’s drug candidates; Adagene’s ability to achieve commercial success for its drug candidates, if approved; Adagene’s ability to obtain and maintain protection of intellectual property for its technology and drugs; Adagene’s reliance on third parties to conduct drug development, manufacturing and other services; Adagene’s limited operating history and Adagene’s ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates; Adagene’s ability to enter into additional collaboration agreements beyond its existing strategic partnerships or collaborations, and the impact of the COVID-19 pandemic on Adagene’s clinical development, commercial and other operations, as well as those risks more fully discussed in the “Risk Factors” section in Adagene’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Adagene, and Adagene undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Investor Contacts:Raymond TamRaymond_tam@adagene.com Corey DavisLifeSci Advisorscdavis@lifesciadvisors.com

免疫疗法临床2期快速通道

2026-05-12

·BioSpace

Adagene to Participate in Two Upcoming Investor Conferences - May 12, 2026

SAN DIEGO and SUZHOU, China, May 12, 2026 (GLOBE NEWSWIRE) -- Adagene Inc. (“Adagene or the Company”) (Nasdaq: ADAG), a company transforming the discovery and development of novel antibody-based therapies, today announced that senior management will participate in one-on-one investor meetings and a fireside chat at the Stifel Annual Virtual Oncology Event on May 19-20, 2026 and one-on-one investor meetings at the Jefferies LLC Global Healthcare Conference being held June 2-4, 2026 in New York, NY. Stifel Annual Virtual Oncology Event Format: Fireside Chat and 1x1 Meetings Date/Time: Tuesday, May 19, 2026, at 2:30 PM (Eastern Time) Webcast: Link here Jefferies LLC Global Healthcare Conference Format: 1x1 meetings Date/Time: Wednesday-Thursday, June 3-4, 2026 If you are interested in meeting with Adagene management during the conferences, please reach out to your respective conference representative. A webcast of the presentations will be accessible in the Investors section of the Company’s website at for at least 30 days. About Adagene Adagene Inc. (Nasdaq: ADAG) is a platform-driven, clinical-stage biotechnology company committed to transforming the discovery and development of novel antibody-based cancer immunotherapies. Adagene combines computational biology and artificial intelligence to design novel antibodies that address globally unmet patient needs. The company has forged strategic collaborations with reputable global partners that leverage its SAFEbody precision masking technology in multiple approaches at the vanguard of science. Powered by its proprietary Dynamic Precision Library (DPL) platform, composed of NEObody™, SAFEbody, and POWERbody™ technologies, Adagene’s highly differentiated pipeline features novel immunotherapy programs. The company’s SAFEbody technology is designed to address safety and tolerability challenges associated with many antibody therapeutics by using precision masking technology to shield the binding domain of the biologic therapy. Through activation in the tumor microenvironment, this allows for tumor-specific targeting of antibodies, while minimizing on-target off-tumor toxicity in healthy tissues. Adagene’s lead clinical program, muzastotug (ADG126), is a masked, anti-CTLA-4 SAFEbody with FDA Fast Track designation that targets a unique epitope of CTLA-4 in regulatory T cells (Tregs) in the tumor microenvironment. Muzastotug is currently in Phase 1b/2 and Phase 2 clinical studies in combination with anti-PD-1 therapy, particularly focused on microsatellite stable (MSS) metastatic colorectal cancer (CRC). Validated by ongoing clinical research, the SAFEbody platform can be applied to a wide variety of antibody-based therapeutic modalities, including Fc empowered antibodies, antibody-drug conjugates, and bi/multi-specific T-cell engagers. For more information, please visit: Follow Adagene on WeChat, LinkedIn and X. SAFEbody® is a registered trademark in the United States, China, Australia, Japan, Singapore, and the European Union. Safe Harbor Statement This press release contains forward-looking statements, including statements regarding certain clinical results of ADG126, the potential implications of clinical data for patients, and Adagene’s advancement of, and anticipated preclinical activities, clinical development, regulatory milestones, and commercialization of its product candidates. Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including but not limited to Adagene’s ability to demonstrate the safety and efficacy of its drug candidates; the clinical results for its drug candidates, which may not support further development or regulatory approval; the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approval of Adagene’s drug candidates; Adagene’s ability to achieve commercial success for its drug candidates, if approved; Adagene’s ability to obtain and maintain protection of intellectual property for its technology and drugs; Adagene’s reliance on third parties to conduct drug development, manufacturing and other services; Adagene’s limited operating history and Adagene’s ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates; Adagene’s ability to enter into additional collaboration agreements beyond its existing strategic partnerships or collaborations, and the impact of the COVID-19 pandemic on Adagene’s clinical development, commercial and other operations, as well as those risks more fully discussed in the “Risk Factors” section in Adagene’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Adagene, and Adagene undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Investor Contacts: Raymond Tam Raymond_tam@adagene.com Corey Davis LifeSci Advisors cdavis@lifesciadvisors.com

2026-04-24

·松叶金研

2026年美国癌症研究协会（AACR）年会中国创新药企跟踪

2026年美国癌症研究协会（AACR）年会上中国生物医药公司发布的最新临床数据。总体来看，中国已成为AACR第二大参与国，展示了超过250-400个研究项目，尤其在新型抗体偶联药物、双特异性/三特异性抗体、T细胞衔接器等前沿领域数据密集。一、核心趋势：创新模态加速，竞争集中在ADC与IO组合 ·双载荷ADC（TOP1+MMAE、TOP1+STING等）和双特异性ADC（如EGFR/HER3、EGFR/MUC1）成为研发热点，旨在克服耐药、扩大覆盖人群。 ·PD-(L)1/VEGF双抗：多个同类产品数据集中读出，疗效接近，差异化开发策略（如适应症选择、联合方案）将成为关键。 ·DLL3 ADC在SCLC中的颅内疗效获得初步验证，且向神经内分泌癌拓展。 ·T细胞衔接器开始探索mRNA编码、多靶点协同等新一代设计。二、主要公司亮点与数据对比 1.翰森制药 ·HS-20093（B7-H3 ADC）+ PD-L1：在2L+非鳞NSCLC（无AGA）中，cORR为47.1%，mPFS为11.2个月，优于现有同类组合（如AK112/化疗~7.1个月）。9个月DOR率达90%，展现协同效应。 ·HS-10504（四代EGFR TKI）：在3L+ NSCLC（C797S突变）中，cORR为47.1%，DCR为91.2%，与BDTX-1535（42%）相比具竞争力。但≥3级TEAE达74.3%，主要为实验室异常。 ·高盛认为B7-H3 ADC+IO可能提升2L+ NSCLC治疗标准；JPM强调其数据在IO失败患者中仍具活性。 2.君实生物 ·JS207（PD-1/VEGF）+ JS007（CTLA-4）：在1L HCC中，ORR达71.4%（n=7），显著优于现有标准（Atezo+Bev ORR 30%）。安全性可控（G3+ TRAE 30%）。 ·JS207 + XELOX：在1L CRC中，ORR为67.7%（n=31），与同类产品相当。 ·JS212（EGFR/HER3 ADC）：在EGFRm NSCLC、ESCC、HR+/HER2- BC中均显示活性，ORR分别为30%、45.5%、37.5%。G3+ TRAE仅22.8%，远低于同类izaben（60-70%）。 ·JPM认为JS212表现出最佳安全性，且JS207组合在HCC中具“同类最佳”潜力。 3.再鼎医药 ·Zoci（DLL3 ADC）： o颅内ORR达53.7%（1.6mg/kg组62.5%），优于拓扑替康（33%）和tarlatamab（62.5%但样本小）。 o在epNEC中ORR为38.2%，DCR为55.9%，计划于2026年底推进注册研究。 o与Amgen、BI合作探索ADC+TCE联合方案。 ·高盛强调其颅内疗效验证，UBS认为其差异化支持SCLC和NEC适应症扩展。 4.康方生物 ·Cadonilimab（PD-1/CTLA-4）+化疗：在1L PDAC中，局部晚期组mOS达23.4个月，转移性组为10.5个月，与NALIRIFOX（11.1个月）相当。ORR为33.9%，DCR为96.4%。 ·JPM认为数据方向积极但未显著优于现有标准。 5.中国生物制药（SBP） ·LM-299（PD-1/VEGF）：在1L NSCLC（PD-L1+）中，ORR为55%（20mg/kg），G3+ TRAE仅17%，展现耐受性优势。 ·LM-338（STn ADC）、LM-364（Nectin-4 ADC）在多种PDX模型中显示强效抗肿瘤活性。 ·UBS看好其临床与临床前资产的组合潜力。 6.石药集团 ·SYS6010（EGFR ADC）：在2L+ NPC中，ORR为31.5%，mPFS为7.5个月，12个月OS率为66.4%。G3+ TEAE为64.3%，以血液学为主。 ·JPM认为其与PD-1联合可能进一步提升疗效。 7.其他值得关注的数据 ·D3 Bio（Elisrasib, KRAS G12C）：在2L+ NSCLC中，ORR为55.9%，mPFS为11.8个月，显著优于已上市产品（sotorasib 6.8个月）。 ·Adagene（ADG126, masked CTLA-4）：在HCC中联合Atezo+Bev，ORR达50%（vs 17.5%对照），安全性良好。 ·Elpiscience（ES014, CD39/TGF-β）：在硬纤维瘤中ORR为40%，与已批标准治疗竞争。 ·Everest（EVM16, mRNA疫苗）：8/9患者产生新抗原特异性T细胞反应，初步PR和SD。三、风险因素与挑战 ·行业共性风险：VBP降价超预期、创新药谈判价格低于预期、消费恢复缓慢、地缘政治影响。 ·临床数据解读风险：多数为早期、非头对头、小样本数据，疗效可能随样本扩大而下降。 ·竞争加剧：PD-1/VEGF类产品拥挤，B7-H3 ADC、DLL3 ADC等赛道也快速拥挤。 ·安全性问题：部分产品G3+ AE率仍较高（如HS-10504达74.3%），可能限制长期使用。四、总结与启示维度核心结论最亮眼资产翰森B7-H3 ADC+IO（疗效协同）、君实JS207组合（HCC潜力）、再鼎Zoci（颅内+epNEC）、D3 Bio KRAS G12C（疗效显著）最具差异化安全数据君实JS212（G3+ TRAE 22.8%）、SBP LM-299（G3+ 17%）最拥挤赛道 PD-(L)1/VEGF双抗、EGFR/HER3 ADC 最值得关注的新兴平台双载荷ADC、mRNA TCE、程序化激活CTLA-4、四代EGFR TKI 最可能的下一波获批/注册推进再鼎Zoci（epNEC登记研究）、翰森HS-20093（III期推进）、君实JS212（扩展队列）总体而言，AACR 2026确认了中国在下一代肿瘤治疗创新中的全球第二极地位。数据密集、模态多样、竞争加剧，但差异化（安全性、适应症、组合策略）仍是胜出关键。ASCO 2026将是下一个验证窗口。以下根据三份报告（UBS、J.P. Morgan、Goldman Sachs）及补充的公开资料，将明确推荐或重点关注的个股整理成表。股票代码简称主营业务推荐理由港股 3692.HK 翰森制药创新药研发，覆盖抗肿瘤、抗感染、中枢神经系统等领域，拥有超过40个候选创新药项目，涵盖ADC、siRNA、双抗等前沿技术平台（1）HS-20093（B7-H3 ADC）+ PD-L1组合在2L+非鳞NSCLC（无AGA）患者中实现cORR 47.1%、mPFS 11.2个月，9个月DOR率达90%，显著优于同类组合（Goldman Sachs、J.P. Morgan等认为可能提升2L+ NSCLC治疗标准）；（2）HS-10504（四代EGFR TKI）在3L+ NSCLC（C797S突变）中cORR达47.1%，与BDTX-1535（42%）相比具竞争力（UBS、J.P. Morgan） 1877.HK / 688180.SH 君实生物 PD-1单抗（特瑞普利单抗）为核心，拓展PD-1/VEGF双抗、EGFR/HER3双抗ADC等前沿IO组合管线（1）JS207（PD-1/VEGF）+ JS007（CTLA-4）在1L HCC（n=7）中ORR达71.4%，远超Atezo+Bev的~30%基准，G3+ TRAE仅30%（J.P. Morgan、UBS）；（2）JS212（EGFR/HER3 ADC）在ESCC中ORR为45.5%，G3+ TRAE仅22.8%，远低于同类BL-B01D1的60-70%，相较同类具显著安全性优势（J.P. Morgan、UBS）；（3）公司为少数同时拥有PD-1/VEGF双抗和双抗ADC两大前沿管线的药企 9926.HK 康方生物双特异性抗体研发，核心产品包括卡度尼利（PD-1/CTLA-4，全球首个获批的肿瘤免疫双抗）和依沃西（PD-1/VEGF）（1）卡度尼利+化疗在1L PDAC局部晚期组mOS达23.4个月，ORR为33.9%，J.P. Morgan认为数据方向积极；（2）UBS指出PD-1/CTLA-4+VEGF组合在1L HCC中取得mOS 26.9个月，为现有疗法中最高数值之一 01177.HK 中国生物制药创新药及仿制药研发生产，布局PD-L1、PD-1/VEGF双抗（LM-299）等IO管线（1）LM-299（PD-1/VEGF双抗，授权默沙东，总金额达32.88亿美元）在1L NSCLC（PD-L1+）中ORR达55%，G3+ TRAE仅17%，展现潜在耐受性优势；（2）Goldman Sachs认为该数据与赛道领先产品AK112的50% ORR相当；（3）UBS指出LM-338（STn ADC）和LM-364（Nectin-4 ADC）在多模型PDX中显示强效抗肿瘤活性 09688.HK / ZLAB.US 再鼎医药商业化阶段生物制药，专注肿瘤、免疫、神经科学等领域，拥有zoci（DLL3 ADC）、则乐（尼拉帕利）等管线（1）zoci在2L+ SCLC中颅内ORR达53.7%（1.6mg/kg组62.5%），优于topotecan（33%）；（2）在epNEC中ORR达38.2%、DCR 55.9%，计划2026年底推进注册研究；（3）与Amgen、BI合作探索ADC+TCE联合方案，Goldman Sachs认为颅内疗效验证使zoci差异化价值明显；（4）UBS指出TCE+ADC路径在SCLC治疗中具有高度潜力 01093.HK 石药集团创新药（恩必普等）及原料药研发生产，重点布局EGFR ADC和DLL3 ADC等赛道（1）SYS6010（EGFR ADC）在2L+ NPC中ORR 31.5%、mPFS 7.5个月，J.P. Morgan认为与PD-1联用有望进一步提升疗效；（2）UBS指出FHI数据显示SYS6010具可管理的安全性和抗肿瘤活性；（3）Goldman Sachs引用公司2026年催化事件（EGFR ADC III期数据读出、潜在BD授权） 01801.HK 信达生物肿瘤及心血管代谢、自身免疫等疾病领域，覆盖单抗、双抗、ADC、细胞治疗等（1）PD-1抑制剂信迪利单抗稳居国产PD-1第一梯队，持续贡献稳定现金流；（2）PD-1/IL-2双抗（IBI363）在NSCLC、结直肠癌等中展现优异数据，注册性III期已在中美启动；（3）J.P. Morgan涵盖其覆盖范围（"Immunity+"策略） 600276.SS 恒瑞医药传统药企向创新转型，抗肿瘤领域覆盖激酶抑制剂、ADC、肿瘤免疫等（1）SHR-A1811（HER2 ADC）+ PD-L1在HER2+ NSCLC中ORR为69.4%，18个月PFS率达66%（J.P. Morgan）；（2）HRS-6209（CDK4抑制剂）在HR+/HER2- BC中PFS达7.4-9.1个月（100mg BID），与Pfizer的PF-07220060（5.7个月）相比具竞争力；（3）J.P. Morgan涵盖其覆盖范围 688235.SH / 6160.HK 百济神州全球肿瘤治疗公司，核心产品泽布替尼（BTK抑制剂）和替雷利珠单抗（PD-1）（1）AACR 2026展示多项重磅成果，为科创板AACR展示最多的企业之一；（2）2025年产品收入377.70亿元（+39.9%），首次全年盈利；（3）J.P. Morgan覆盖所有类别（A/H股及美股）此外，报告提及但未给予明确推荐的个股中，科伦博泰（6990.HK）TROP2 ADC芦康沙妥珠单抗已商业化；荣昌生物（9995.HK）拥有维迪西妥单抗（首款国产ADC）和泰它西普（全球首款双靶点SLE生物药）；金斯瑞生物科技（1548.HK）持有传奇生物（细胞疗法龙头），继续受到关注。上述公司虽均被提及，但三份报告对其AACR数据或推荐力度较弱。 EDITTED BY Kelvin

100 项与 Muzastotug 相关的药物交易

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适应症	最高研发状态	国家/地区	公司	日期
大肠腺癌	临床2期	新加坡	天演药业（苏州）有限公司	2025-04-14
直肠癌	临床2期	新加坡	天演药业（苏州）有限公司	2025-04-14
微卫星稳定型结直肠癌	临床2期	美国	天演药业（苏州）有限公司	2024-07-12
微卫星稳定型结直肠癌	临床2期	中国	天演药业（苏州）有限公司	2024-07-12
微卫星稳定型结直肠癌	临床2期	中国香港	天演药业（苏州）有限公司	2024-07-12
微卫星稳定型结直肠癌	临床2期	韩国	天演药业（苏州）有限公司	2024-07-12
非小细胞肺癌	临床2期	美国	天演药业（苏州）有限公司	2024-07-12
非小细胞肺癌	临床2期	中国	天演药业（苏州）有限公司	2024-07-12
非小细胞肺癌	临床2期	中国香港	天演药业（苏州）有限公司	2024-07-12
非小细胞肺癌	临床2期	韩国	天演药业（苏州）有限公司	2024-07-12

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研究	分期	人群特征	评价人数	分组	结果	评价	发布日期


NCT04524871 (MORPHEUS-Liver, AACR2026)	临床1/2期	不可切除的肝细胞癌一线	46	ADG126 + Atezolizumab + Bevacizumab	觸艱獵鬱鏇膚範蓋醖淵(鹽選積築夢襯鬱襯鏇窪) = 齋艱衊網獵餘憲鹹艱餘範網襯窪鑰壓襯憲鬱餘 (繭蓋襯獵簾窪衊餘選鏇 ) 更多	积极	2026-04-20
				Atezolizumab + Bevacizumab	觸艱獵鬱鏇膚範蓋醖淵(鹽選積築夢襯鬱襯鏇窪) = 簾觸齋遞構遞壓餘願衊範網襯窪鑰壓襯憲鬱餘 (繭蓋襯獵簾窪衊餘選鏇 ) 更多
NCT06846268 (ESMO_ASIA2025)	临床2期	局部晚期恶性肿瘤新辅助	16	ADG126 and pembrolizumab	廠願壓鑰糧構獵壓觸衊(憲廠獵壓鬱夢壓蓋願範) = 鑰壓醖糧遞艱艱繭夢範築齋選鏇積衊餘願醖鹽 (顧蓋簾窪衊範醖蓋選夢 ) 更多	积极	2025-12-05
CTR20241474 (NEWS) 人工标引	临床1/2期	微卫星稳定型结直肠癌 \| 晚期癌症 Microsatellite Stable (MSS)	-	ADG126+Pembrolizumab	鏇襯廠願憲鹽壓衊夢鹹(簾築鹽襯壓選憲遞鹽簾) = 壓衊鬱憲艱醖鏇壓蓋顧廠願積遞獵鹽醖醖廠蓋 (蓋製廠鹽遞製網廠衊廠 ) 更多	积极	2025-09-08
NCT05405595 (ESMO_TAT Asia2025) 人工标引	临床1/2期	微卫星稳定型结直肠癌	54	ADG126/pembrolizumab (200 mg Q3W) (10 mg/kg Q6W)	餘觸遞糧膚憲範艱艱衊(蓋構鹽鬱遞齋廠築願鹽) = 糧願齋憲餘製膚願繭獵顧鏇廠積鏇襯憲繭膚繭 (範憲艱顧選齋構糧餘淵 ) 更多	积极	2025-07-18
				ADG126/pembrolizumab (200 mg Q3W) (10 mg/kg Q3W)	餘觸遞糧膚憲範艱艱衊(蓋構鹽鬱遞齋廠築願鹽) = 鹽壓衊網簾獵襯襯築獵顧鏇廠積鏇襯憲繭膚繭 (範憲艱顧選齋構糧餘淵, 4.6 ~ 9.0) 更多
NCT05405595 (ASCO2025) 人工标引	临床1/2期	微卫星稳定型结直肠癌 Microsatellite Stable (MSS)	54	ADG126 10 mg/kg Q6WADG126 10 mg/kg Q6W + Pembrolizumab (200 mg, Q3W)Pembrolizumab (200 mg, Q3W)	膚淵簾衊繭獵膚鏇廠膚(衊餘鹹觸衊構網憲鑰繭) = 38% (5/13), 20% (6/30) and 0% (0/11) for 20 mg/kg LD1, 10 mg/kg Q3W and 10 mg/kg Q6W cohorts, respectively 鑰構鑰淵願夢顧製獵艱 (衊願淵鏇餘膚齋齋憲選 )	积极	2025-05-30
				ADG126 10 mg/kg Q6WADG126 10 mg/kg Q6W + PembrolizumabPembrolizumab 200 mg Q3W
NCT05405595 (ASCO_GI2025) 人工标引	临床1/2期	微卫星稳定型结直肠癌 Microsatellite Stable (MSS)	72	ADG126 10 mg/kg Q6WADG126 10 mg/kg Q6W + pembrolizumab	憲顧憲願鬱餘淵糧願積(蓋憲鏇鬱鹹廠鏇鏇觸壓) = 鹽鑰衊窪衊衊觸鹹鹽夢衊糧顧鏇餘積繭壓淵範 (鏇鑰製餘築製築觸餘鏇 )	积极	2025-01-23
				ADG126 10 mg/kg Q3WADG126 10 mg/kg Q3W + pembrolizumab	憲顧憲願鬱餘淵糧願積(蓋憲鏇鬱鹹廠鏇鏇觸壓) = 遞範範製鏇簾願夢醖遞衊糧顧鏇餘積繭壓淵範 (鏇鑰製餘築製築觸餘鏇 )
NCT04645069 (744, SITC2024)	临床1/2期	微卫星稳定型结直肠癌	64	Muzastotug 10 mg/kg Q3W	構繭齋壓鏇醖艱願製壓(艱製餘壓觸憲蓋鑰窪艱) = 憲選蓋築廠遞鏇顧簾築鏇築廠艱簾鹹鏇餘齋選 (選範鏇壓獵顧壓築窪鏇 ) 更多	积极	2024-11-05
NCT05405595 (ESMO 12024 \| ESMO 22024) 人工标引	临床1/2期	转移性微卫星稳定结直肠癌 Microsatellite Stable (MSS)	60	ADG126+Pembrolizumab (ADG126 10 mg/kg Q3W)	壓簾糧夢觸衊選糧鑰鬱(餘齋簾製鹹鹹壓範糧願) = 艱膚遞夢淵淵築糧壓製憲簾鹹繭簾衊觸夢選夢 (廠網壓鑰夢願廠鹽選齋 )	积极	2024-09-16
				ADG126+Pembrolizumab (ADG126 10 mg/kg Q3W + MSS CRC EXP)	獵選衊憲窪壓鑰醖簾夢(積願憲膚遞膚遞鬱衊遞) = 鬱網窪餘製鏇壓壓積廠繭淵繭範齋構鏇夢繭膚 (積齋築窪繭構觸構餘窪 ) 更多
NCT05405595 (ASCO_GI2024) 人工标引	临床1/2期	转移性微卫星稳定结直肠癌	47	ADG126+pembrolizumab	艱範簾齋憲遞鹹範獵繭(廠願壓壓繭鏇窪壓襯艱) = 窪蓋積艱廠鬱衊顧壓鬱遞顧願蓋糧願糧網範構 (鑰鏇遞襯襯餘鑰簾構醖 ) 更多	积极	2024-01-20
				ADG126+pembrolizumab (expansion cohort + ADG126 10 mpk Q6W)	憲簾繭繭齋憲齋願範襯(艱鬱壓壓憲淵窪積遞餘) = 積廠簾鹹蓋憲夢選廠衊蓋積構糧鹽餘鬱夢餘齋 (襯鏇齋願網蓋簾製廠齋 )
NCT04645069 (ADG126-1001, AACR2023) 人工标引	临床1/2期	实体瘤	-	ADG126	醖齋艱顧簾壓淵簾廠遞(醖獵網衊糧觸獵觸顧膚) = TRAEs ≥10% included diarrhea (17%), fatigue (17%), pruritus (13%), and rash (10%) in monotherapy. TRAEs (> 10%) included diarrhea (21%), fatigue (14%), pruritus (14%), rash (14%) and nausea (14%) in combination therapy. 觸繭襯鹽淵網簾廠膚製 (鬱窪蓋範積積鏇簾餘膚 ) 更多	积极	2023-04-14
				ADG126+Toripalimab