According to the CITIC Securities Research Report, GDF-15 blockers are expected to treat cancer cancer and improve the efficacy of PD-1. There are more than 1 million cancer patients worldwide, and no targeted drugs have been approved; about 50-85% of patients will be resistant to PD-1. GDF-15 blockers have conceptually verified their efficacy in cachexia treatment in phase II clinical trials, and have now entered the registered clinical stage. We believe that GDF-15 blockers are expected to be approved to treat tumor cachexia; GDF-15 blockers combined with PD-1 therapy have shown positive data in the early clinical stages. Currently, several phase II clinical trials have been carried out, but subsequent clinical conceptual verification is still needed. We believe that GDF-15 blockers are expected to be approved in the future to treat cancer cachexia, creating multi-billion dollar single products.

According to the CITIC Securities Research Report, GDF-15 blockers are expected to treat cancer cancer and improve the efficacy of PD-1. There are more than 1 million cancer patients worldwide, and no targeted drugs have been approved; about 50-85% of patients will be resistant to PD-1. GDF-15 blockers have conceptually verified their efficacy in cachexia treatment in phase II clinical trials, and have now entered the registered clinical stage. We believe that GDF-15 blockers are expected to be approved to treat tumor cachexia; GDF-15 blockers combined with PD-1 therapy have shown positive data in the early clinical stages. Currently, several phase II clinical trials have been carried out, but subsequent clinical conceptual verification is still needed. We believe that GDF-15 blockers are expected to be approved in the future to treat cancer cachexia, creating multi-billion dollar single products.