China's Alphamab Oncology climbs on progress of new drug development

Alphamab Oncology

07/11/2023 05:50

** Shares of Alphamab Oncology  9966.HK  jump 7.9% to
HK$12.88, their highest since May 18
    ** Stock on track for biggest one-day pct rise since Oct. 27
if gains hold; third biggest pct gainer in Hang Seng Composite
Index  .HSCI 
    ** Co says Center for Drug Evaluation (CDE) of National
Medical Products Administration of China has granted
breakthrough therapy designation for KN026
    ** KN026 targets bispecific antibody in combination with
chemotherapy for the treatment of patients with HER2-positive
gastric cancer
    ** Co says it believes the designation will accelerate the
clinical development and marketing progress of KN026
    ** Hong Kong's healthcare index  .HSCIH  falls 1.5%, Hang
Seng Index  .HSI  down 1.4%
    ** Stock up 17.5% YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))