Shares of Kelun-Biotech (06990) climbed more than 4% before the midday break, last trading 3.64% higher at HK$541.50 with turnover reaching HK$157 million.

According to the company's interim results, first-half revenue came in at RMB 978 million, up 2.93% year-on-year, while net profit attributable to shareholders reached RMB 388 million, reversing a year-ago loss. During the period, products including sac-TMT (marketed as Jiadailai) saw rapid volume growth after being included in medical insurance catalogs. Product sales revenue for the first half totaled RMB 657 million, surging 112% year-on-year.

Industry observers note that with the 2026 medical insurance negotiation window approaching, the company's products are entering a full-scale volume growth cycle. Combined with the company's efforts to expand product accessibility, commercial revenue is expected to strengthen considerably, as earlier research and development achievements rapidly transform into operational results.

Notably, sac-TMT has achieved primary endpoints in multiple registrational studies and posted its first dual-positive results in a global Phase III trial. This underscores a strategic roadmap spanning monotherapy to combination therapy, later-line to earlier-line treatment, China to global markets, and multi-indication expansion.