ALPHAMAB-B (09966) rose more than 12% during the morning trading session. At the time of writing, the stock was up 10.54% to HK$10.38, with a turnover of HK$279.146 million. The catalyst for the move was recent news from the company. ALPHAMAB recently announced that its drug KN026, combined with a proprietary albumin-bound docetaxel (HB1801) developed by CSPC Pharmaceutical Group, has met the primary endpoint in a Phase III clinical study for the neoadjuvant treatment of HER2-positive breast cancer. This marks the first time a China-developed HER2 bispecific antibody has demonstrated superior efficacy over the "trastuzumab + pertuzumab" dual monoclonal antibody combination regimen in a head-to-head Phase III study. Previously, Soochow Securities noted that ALPHAMAB's two most advanced products, KN026 and JSKN003, have both secured domestic collaboration agreements with CSPC Pharmaceutical Group. Among them, KN026 already submitted a domestic New Drug Application (NDA) in September 2025 for second-line treatment of HER2-positive gastric cancer patients and has received priority review status. The analysts anticipate this indication could potentially launch in 2026. If approval is granted before June 30, it would have the opportunity to participate in this year's National Reimbursement Drug List (NRDL) negotiations, which would accelerate the commercial ramp-up of KN026.