Chinese Biotech Ascentage Pharma's Valuation Driven By Late-Stage De-Risked Assets: JPMorgan
1. JPMorgan initiated coverage on AAPG with an Overweight rating. 2. Olverembatinib and lisaftoclax drive AAPG's valuation as late-stage assets. 3. AAPG's 2024 sales projected at $134.3 million, up 342% year-over-year. 4. JP Morgan estimates peak sales for olverembatinib at 1.6 billion Yuan by 2030. 5. AAPG stock rose 11.6% to $20.50 following the report.