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