Apollomics gains as partner gets conditional nod for lung cancer drug in China
16/11/2023 14:30
** Shares of drug developer Apollomics Inc APLM.O more
than doubles to $2.00 in premarket trading
** Co says its partner, Avistone Biotechnology, received
conditional approval from China's regulator to commercialize
vebreltinib to treat patients with a type of lung cancer in
China
** Adds, Apollomics is in active discussions with U.S. FDA
for a potential marketing application for the drug
** Under the partnership agreement, Avistone holds the
exclusive rights to vebreltinib in China, Hong Kong and Macau,
while APLM retains the exclusive rights in the rest of the
world, including the U.S
** Up to last close, stock down ~92% YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))