Adlai Nortye (ANL) stands to benefit from the GSK (GSK)-Hutchmed (HCM) deal, which validates growing interest in targeted KRAS therapies, Oppenheimer said in a note emailed Friday.
Hutchmed said Thursday its unit licensed rights to GSK to develop and commercialize experimental cancer treatment HMPL-A830 outside Greater China.
HMPL-A830 is an EGFR-targeted antibody-drug conjugate carrying a KRAS inhibitor payload. The deal highlights increasing interest in targeted approaches that aim to improve the therapeutic index of RAS-pathway inhibition, Oppenheimer analysts said.
Adlai Nortye's approach is differentiated, with AN9025 already in the clinic and data expected in H1 2027. AN4035 uses a pan-RAS(ON) inhibitor payload with a CEACAM5-targeting antibody, which could provide advantages in breadth, durability, and target selection, the analysts added.
The deal should improve "investor awareness of comparable RAS-focused platforms and reinforce the strategic value embedded within Adlai Nortye's differentiated RAS franchise," the analysts said.
Oppenheimer has an outperform rating and a $32 price target on Adlai Nortye.
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